Fintel reports that on June 7, 2023, Baird reiterated coverage of Biogen (NASDAQ:BIIB) with a Outperform recommendation.
Analyst Price Forecast Suggests 13.22% Upside
As of June 1, 2023, the average one-year price target for Biogen is 339.43. The forecasts range from a low of 265.63 to a high of $417.90. The average price target represents an increase of 13.22% from its latest reported closing price of 299.79.
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The projected annual revenue for Biogen is 9,565MM, a decrease of 5.34%. The projected annual non-GAAP EPS is 15.98.
What is the Fund Sentiment?
There are 1989 funds or institutions reporting positions in Biogen. This is an increase of 36 owner(s) or 1.84% in the last quarter. Average portfolio weight of all funds dedicated to BIIB is 0.35%, a decrease of 5.81%. Total shares owned by institutions increased in the last three months by 2.13% to 138,431K shares. 
The put/call ratio of BIIB is 0.75, indicating a bullish outlook.
What are Other Shareholders Doing?
Primecap Management holds 16,001K shares representing 11.05% ownership of the company. In it's prior filing, the firm reported owning 15,701K shares, representing an increase of 1.88%. The firm decreased its portfolio allocation in BIIB by 2.54% over the last quarter.
VPMCX - Vanguard PRIMECAP Fund Investor Shares holds 9,006K shares representing 6.22% ownership of the company. In it's prior filing, the firm reported owning 8,917K shares, representing an increase of 0.98%. The firm decreased its portfolio allocation in BIIB by 4.30% over the last quarter.
Wellington Management Group Llp holds 5,453K shares representing 3.77% ownership of the company. In it's prior filing, the firm reported owning 5,411K shares, representing an increase of 0.76%. The firm decreased its portfolio allocation in BIIB by 85.89% over the last quarter.
VGHCX - Vanguard Health Care Fund Investor Shares holds 4,887K shares representing 3.38% ownership of the company. In it's prior filing, the firm reported owning 4,971K shares, representing a decrease of 1.70%. The firm decreased its portfolio allocation in BIIB by 1.00% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,472K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 4,375K shares, representing an increase of 2.16%. The firm decreased its portfolio allocation in BIIB by 5.25% over the last quarter.
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.
Key filings for this company:
This story originally appeared on Fintel.
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