Biogen (NASDAQ:BIIB) Price Target Cut to $200.00

Biogen (NASDAQ:BIIB) had its price target lowered by equities research analysts at Barclays from $215.00 to $200.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the biotechnology company’s stock. Barclays‘s target price points to a potential downside of 1.15% from the company’s current price.

Several other equities analysts also recently issued reports on BIIB. Needham & Company LLC reissued a “buy” rating and set a $294.00 price target on shares of Biogen in a report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $364.00 price target on shares of Biogen in a report on Tuesday, March 5th. Robert W. Baird reduced their price target on shares of Biogen from $333.00 to $316.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Canaccord Genuity Group reduced their price objective on shares of Biogen from $310.00 to $305.00 and set a “buy” rating for the company in a report on Tuesday, February 20th. Finally, UBS Group reduced their price objective on shares of Biogen from $250.00 to $214.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $293.88.

Biogen Stock Performance

Biogen stock traded up $0.34 during mid-day trading on Thursday, reaching $202.33. The company’s stock had a trading volume of 941,622 shares, compared to its average volume of 1,188,205. The firm has a market cap of $29.41 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 1.84 and a beta of -0.02. The business has a 50 day moving average price of $213.18 and a 200-day moving average price of $234.39. The company has a current ratio of 2.00, a quick ratio of 1.26 and a debt-to-equity ratio of 0.46. Biogen has a twelve month low of $189.44 and a twelve month high of $319.76.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Biogen had a net margin of 11.81% and a return on equity of 14.91%. The firm’s revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.40 earnings per share. Sell-side analysts predict that Biogen will post 15.47 EPS for the current fiscal year.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 262 shares of the stock in a transaction on Thursday, February 22nd. The stock was 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 in the company, valued at $1,080,929.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Biogen news, insider Priya Singhal sold 262 shares of the stock in a transaction on Thursday, February 22nd. The stock was 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 in the company, valued at $1,080,929.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eric K. Rowinsky acquired 455 shares of the company’s 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 purchase, the director now directly owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The disclosure for this purchase can be found here. Insiders sold a total of 882 shares of company stock valued at $202,030 over the last ninety days. 0.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BIIB. OFI Invest Asset Management acquired a new stake in shares of Biogen in the third quarter valued at $26,000. Livelsberger Financial Advisory acquired a new stake in shares of Biogen in the fourth quarter valued at $26,000. Rise Advisors LLC acquired a new stake in shares of Biogen in the first quarter valued at $27,000. Gladius Capital Management LP acquired a new stake in shares of Biogen in the third quarter valued at $28,000. Finally, KB Financial Partners LLC increased its stake in shares of Biogen by 105.1% in the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 62 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

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.