Barclays Lowers Biogen (NASDAQ:BIIB) Price Target to $200.00

Biogen (NASDAQ:BIIB) had its price objective dropped by equities researchers at Barclays from $215.00 to $200.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the biotechnology company’s stock. Barclays‘s price target points to a potential downside of 4.26% from the stock’s current price.

Several other equities analysts have also recently weighed in on the company. HC Wainwright lowered their price target on Biogen from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday. StockNews.com cut Biogen from a “buy” rating to a “hold” rating in a report on Tuesday, February 20th. 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 lowered their price target on Biogen from $333.00 to $316.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Finally, Bank of America lowered their price target on Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, Biogen has an average rating of “Moderate Buy” and a consensus price target of $293.88.

Biogen Stock Performance

Shares of BIIB opened at $208.90 on Thursday. The business’s fifty day simple moving average is $212.55 and its two-hundred day simple moving average is $233.78. The company has a current ratio of 2.10, a quick ratio of 1.26 and a debt-to-equity ratio of 0.41. Biogen has a 12 month low of $189.44 and a 12 month high of $319.76. The company has a market cap of $30.37 billion, a price-to-earnings ratio of 26.08, a P/E/G ratio of 1.92 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.45 by $0.22. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period last year, the business posted $3.40 EPS. The company’s revenue was down 7.0% compared to the same quarter last year. Research analysts anticipate that Biogen will post 15.48 earnings per share for the current fiscal year.

Insider Activity

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 purchased at an average price of $222.54 per share, for a total transaction 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 filing with the SEC, which is available through this link. In other news, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was 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 in the company, valued at $1,081,356.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eric K. Rowinsky purchased 455 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the transaction, the director now owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. Insiders sold a total of 882 shares of company stock worth $202,030 over the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Stratos Wealth Partners LTD. grew its position in Biogen by 1.1% in the third quarter. Stratos Wealth Partners LTD. now owns 4,032 shares of the biotechnology company’s stock worth $1,036,000 after acquiring an additional 42 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in Biogen by 2.3% in the third quarter. Sequoia Financial Advisors LLC now owns 2,043 shares of the biotechnology company’s stock worth $525,000 after acquiring an additional 45 shares in the last quarter. PAX Financial Group LLC grew its position in Biogen by 2.9% in the third quarter. PAX Financial Group LLC now owns 1,577 shares of the biotechnology company’s stock worth $405,000 after acquiring an additional 45 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its position in Biogen by 2.4% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,955 shares of the biotechnology company’s stock worth $502,000 after acquiring an additional 45 shares in the last quarter. Finally, Ballentine Partners LLC lifted its stake in Biogen by 3.2% in the third quarter. Ballentine Partners LLC now owns 1,528 shares of the biotechnology company’s stock worth $393,000 after purchasing an additional 48 shares during the last quarter. Hedge funds and other institutional investors 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.