Biogen (NASDAQ:BIIB) PT Lowered to $214.00

Biogen (NASDAQ:BIIB) had its price objective cut by research analysts at UBS Group from $250.00 to $214.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the biotechnology company’s stock. UBS Group’s price objective indicates a potential upside of 11.37% from the stock’s previous close.

Several other equities analysts have also recently commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. HC Wainwright restated a “buy” rating and issued a $325.00 price objective on shares of Biogen in a report on Wednesday, February 14th. BMO Capital Markets cut their price target on shares of Biogen from $295.00 to $285.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. Piper Sandler cut their price target on shares of Biogen from $350.00 to $325.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 14th. Finally, William Blair restated an “outperform” rating on shares of Biogen in a research note on Monday, April 1st. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $296.35.

Biogen Stock Down 1.5 %

Shares of NASDAQ BIIB opened at $192.16 on Wednesday. The company has a 50 day simple moving average of $217.16 and a 200-day simple moving average of $236.56. The company has a market capitalization of $27.93 billion, a P/E ratio of 24.08, a P/E/G ratio of 1.86 and a beta of -0.02. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.00 and a quick ratio of 1.26. Biogen has a 1 year low of $192.01 and a 1 year high of $319.76.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.47 billion. Biogen had a return on equity of 14.91% and a net margin of 11.81%. During the same quarter in the prior year, the business earned $4.05 EPS. On average, equities research analysts predict that Biogen will post 15.48 earnings per share for the current year.

Insider Buying and Selling at Biogen

In other Biogen news, Director Eric K. Rowinsky purchased 455 shares of Biogen stock in a transaction on Thursday, February 15th. The shares were bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the completion of the acquisition, the director now directly owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Eric K. Rowinsky acquired 455 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was acquired at an average price of $222.54 per share, with a total value of $101,255.70. Following the completion of the transaction, the director now directly owns 20,629 shares in the company, valued at approximately $4,590,777.66. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Priya Singhal sold 262 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the transaction, the insider now directly owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The disclosure for this sale can be found here. Insiders have sold 882 shares of company stock valued at $202,030 over the last quarter. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Biogen

Institutional investors have recently modified their holdings of the company. Altshuler Shaham Ltd acquired a new position in shares of Biogen in the fourth quarter valued at approximately $25,000. OFI Invest Asset Management purchased a new position in Biogen during the third quarter worth approximately $26,000. Livelsberger Financial Advisory purchased a new position in Biogen during the fourth quarter worth approximately $26,000. Rise Advisors LLC purchased a new position in Biogen during the first quarter worth approximately $27,000. Finally, Gladius Capital Management LP purchased a new position in Biogen during the third quarter worth approximately $28,000. 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.