Needham & Company LLC reissued their buy rating on shares of Biogen (NASDAQ:BIIB – Free Report) in a report released on Friday, Benzinga reports. The brokerage currently has a $294.00 price target on the biotechnology company’s stock.
BIIB has been the subject of several other reports. HC Wainwright reiterated a buy rating and issued a $300.00 target price on shares of Biogen in a research note on Thursday, May 23rd. Piper Sandler reduced their target price on Biogen from $335.00 to $313.00 and set an overweight rating for the company in a research note on Friday, July 12th. Wedbush boosted their target price on Biogen from $213.00 to $215.00 and gave the stock a neutral rating in a report on Thursday, April 25th. Oppenheimer reaffirmed an outperform rating and set a $270.00 price target on shares of Biogen in a report on Monday, April 29th. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $317.00 price objective on shares of Biogen in a report on Wednesday, June 26th. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $284.22.
Get Our Latest Stock Analysis on BIIB
Biogen Stock Performance
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Plato Investment Management Ltd increased its holdings in Biogen by 82.8% in the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 53 shares during the period. Livelsberger Financial Advisory acquired a new position in Biogen during the fourth quarter valued at approximately $26,000. Rise Advisors LLC acquired a new position in Biogen during the first quarter valued at approximately $27,000. Hexagon Capital Partners LLC lifted its stake in Biogen by 76.1% during the fourth quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 51 shares during the last quarter. Finally, CVA Family Office LLC acquired a new stake in shares of Biogen in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 87.93% of the company’s stock.
Biogen Company Profile
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.
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