Biogen (NASDAQ:BIIB) Price Target Cut to $200.00 by Analysts at Barclays

Biogen (NASDAQ:BIIB) had its target price reduced by Barclays from $215.00 to $200.00 in a report published on Thursday, Benzinga reports. They currently have an equal weight rating on the biotechnology company’s stock.

Several other research firms have also recently issued reports on BIIB. Robert W. Baird lowered their price objective on shares of Biogen from $333.00 to $316.00 and set an outperform rating for the company in a research report on Wednesday, February 14th. Piper Sandler lowered their price target on shares of Biogen from $350.00 to $325.00 and set an overweight rating for the company in a research report on Wednesday, February 14th. Needham & Company LLC reaffirmed a buy rating and issued a $294.00 price target on shares of Biogen in a research report on Wednesday. UBS Group lowered their price target on shares of Biogen from $250.00 to $214.00 and set a neutral rating for the company in a research report on Wednesday, April 17th. Finally, Cantor Fitzgerald reaffirmed an overweight rating and issued a $311.00 price target on shares of Biogen in a research report on Tuesday, February 20th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Biogen currently has a consensus rating of Moderate Buy and a consensus price target of $293.88.

Biogen Price Performance

Biogen stock opened at $202.46 on Thursday. The stock has a market cap of $29.43 billion, a price-to-earnings ratio of 25.28, a price-to-earnings-growth ratio of 1.92 and a beta of -0.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.26. Biogen has a 1 year low of $189.44 and a 1 year high of $319.76. The firm has a 50-day moving average of $212.76 and a two-hundred day moving average of $234.17.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.45 by $0.22. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the company earned $3.40 EPS. On average, research analysts forecast that Biogen will post 15.48 earnings per share for the current year.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 419 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $239.45, for a total value of $100,329.55. Following the sale, the insider now directly owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Biogen news, Director Eric K. Rowinsky acquired 455 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was purchased at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the acquisition, the director now owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Priya Singhal sold 419 shares of Biogen stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the completion of the transaction, the insider now owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The disclosure for this sale can be found here. Insiders have sold a total of 882 shares of company stock valued at $202,030 over the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BIIB. OFI Invest Asset Management acquired a new position in shares of Biogen in the third quarter valued at approximately $26,000. Livelsberger Financial Advisory acquired a new position in Biogen during the 4th quarter worth approximately $26,000. Rise Advisors LLC acquired a new position in Biogen during the 1st quarter worth approximately $27,000. Gladius Capital Management LP acquired a new position in shares of Biogen in the 3rd quarter valued at $28,000. Finally, KB Financial Partners LLC boosted its holdings in shares of Biogen by 105.1% in the 3rd 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. Institutional investors and hedge funds own 87.93% of the company’s stock.

About Biogen

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.