Analysts Are Cutting Price Targets of These 5 Stocks

03. Biogen Inc. (NASDAQ:BIIB)

Number of Hedge Fund Holders: 67

Biogen Inc. (NASDAQ:BIIB) is a biotechnology company working on neurological and neurodegenerative diseases and their treatments. It is based in Cambridge, Massachusetts. Established in 1978, Biogen Inc. (NASDAQ:BIIB) has been a trailblazer in the field of biotechnology, introducing several groundbreaking innovations. Their achievements include developing a diverse range of medicines aimed at treating multiple sclerosis, becoming the first company to receive approval for a treatment for spinal muscular atrophy, and collaborating on two treatments targeting a crucial aspect of Alzheimer’s disease pathology. On July 26, BofA revised the price target for Biogen Inc. (NASDAQ:BIIB), reducing it from $320 to $310. This indicates that BofA’s analysts have reevaluated their assessment of Biogen Inc. (NASDAQ:BIIB) valuation and arrived at a slightly lower target price compared to their previous estimate.