Fintel reports that on April 17, 2023, Piper Sandler upgraded their outlook for Biogen (NASDAQ:BIIB) from Neutral to Overweight .
Analyst Price Forecast Suggests 13.66% Upside
As of April 6, 2023, the average one-year price target for Biogen is $327.50. The forecasts range from a low of $251.49 to a high of $407.40. The average price target represents an increase of 13.66% from its latest reported closing price of $288.13.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Biogen is $9,565MM, a decrease of 5.98%. The projected annual non-GAAP EPS is $15.98.
What are Other Shareholders Doing?
BBTLX - Bridge Builder Tax Managed Large Cap Fund holds 2K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 83.22%. The firm decreased its portfolio allocation in BIIB by 4.64% over the last quarter.
Scott Investment Partners LLP holds 3K shares representing 0.00% ownership of the company. No change in the last quarter.
JPDEX - JPMorgan Tax Aware Equity Fund Class I holds 28K shares representing 0.02% ownership of the company. In it's prior filing, the firm reported owning 13K shares, representing an increase of 52.73%. The firm increased its portfolio allocation in BIIB by 158.97% over the last quarter.
Lifeworks Advisors holds 3K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 4K shares, representing a decrease of 32.74%. The firm decreased its portfolio allocation in BIIB by 27.80% over the last quarter.
Alaska Permanent Fund holds 8K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 15K shares, representing a decrease of 84.79%. The firm decreased its portfolio allocation in BIIB by 48.94% over the last quarter.
What is the Fund Sentiment?
There are 1977 funds or institutions reporting positions in Biogen.
This is an increase
of
91
owner(s) or 4.83% in the last quarter.
Average portfolio weight of all funds dedicated to BIIB is 0.41%,
an increase
of 14.05%.
Total shares owned by institutions increased
in the last three months by 0.72% to 135,725K shares.
The put/call ratio of BIIB is 0.83, indicating a
bullish
outlook.
Biogen Background Information
(This description is provided by the company.)
At Biogen, mission is clear: company is pioneer in neuroscience. Biogen discovers, develops and delivers worldwide innovative therapies for people living with serious neurological and neurodegenerative diseases as well as related therapeutic adjacencies. One of the world's first global biotechnology companies, Biogen was founded in 1978 by Charles Weissmann, Heinz Schaller, Kenneth Murray and Nobel Prize winners Walter Gilbert and Phillip Sharp. Today Biogen has the leading portfolio of medicines to treat multiple sclerosis, has introduced the first approved treatment for spinal muscular atrophy, commercializes biosimilars of advanced biologics and is focused on advancing research programs in multiple sclerosis and neuroimmunology, Alzheimer's disease and dementia, neuromuscular disorders, movement disorders, ophthalmology, neuropsychiatry, immunology, acute neurology and neuropathic pain.
See all Biogen regulatory filings.This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
