Wall Street Analysts Trim Price Targets for These 5 Stocks

02. Biogen Inc. (NASDAQ:BIIB)

Number of Hedge Fund Holders: 67

On August 9, Robyn Karnauskas, an analyst from Truist Securities, adjusted the price target for Biogen Inc. (NASDAQ:BIIB), a company operating in the biotechnology sector. The revised price target now stands at $340, down from the previous value of $350. However, Karnauskas has maintained a “Buy” rating for the company despite this adjustment. This adjustment in the price target reflects Karnauskas’ reassessment of Biogen Inc. (NASDAQ:BIIB) potential valuation within the market. The decrease of $10 from the previous target indicates her updated perspective on the company’s worth, likely considering factors such as recent market dynamics, Biogen Inc. (NASDAQ:BIIB) performance, and industry trends. Karnauskas’s decision to retain a “Buy” rating signifies her continued positive view of Biogen Inc. (NASDAQ:BIIB) performance compared to market averages. This suggests that she believes Biogen Inc. (NASDAQ:BIIB) holds qualities that could lead to strong investment returns.