UBS Group Lowers Biogen (NASDAQ:BIIB) Price Target to $202.00

Biogen (NASDAQ:BIIB) had its price objective lowered by equities researchers at UBS Group from $234.00 to $202.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the biotechnology company’s stock. UBS Group’s price target suggests a potential upside of 8.79% from the stock’s previous close.

Several other equities research analysts have also issued reports on BIIB. Barclays dropped their price target on Biogen from $200.00 to $190.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Truist Financial reaffirmed a “buy” rating and issued a $302.00 target price (down previously from $340.00) on shares of Biogen in a research note on Monday, August 5th. Piper Sandler reduced their price target on shares of Biogen from $335.00 to $313.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Wells Fargo & Company lowered their price objective on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Finally, StockNews.com raised shares of Biogen from a “buy” rating to a “strong-buy” rating in a report on Monday, September 2nd. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Biogen currently has an average rating of “Moderate Buy” and an average price target of $273.78.

Biogen Trading Up 0.5 %

Shares of BIIB stock opened at $185.68 on Thursday. The company has a market capitalization of $27.03 billion, a PE ratio of 23.18, a price-to-earnings-growth ratio of 1.97 and a beta of -0.06. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.48 and a current ratio of 2.29. The business’s fifty day moving average is $200.69 and its 200 day moving average is $212.87. Biogen has a 52-week low of $183.56 and a 52-week high of $269.43.

Biogen (NASDAQ:BIIB) last announced its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.00 by $1.28. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. Biogen’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the previous year, the business posted $4.02 earnings per share. On average, equities research analysts anticipate that Biogen will post 16.12 EPS for the current fiscal year.

Insider Activity at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the transaction, the insider now owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by corporate insiders.

Institutional Trading of Biogen

A number of hedge funds have recently made changes to their positions in BIIB. Park Avenue Securities LLC raised its position in shares of Biogen by 4.0% in the 3rd quarter. Park Avenue Securities LLC now owns 2,630 shares of the biotechnology company’s stock worth $510,000 after purchasing an additional 101 shares during the last quarter. Czech National Bank raised its holdings in Biogen by 6.9% in the third quarter. Czech National Bank now owns 29,672 shares of the biotechnology company’s stock worth $5,752,000 after buying an additional 1,928 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Biogen in the second quarter worth approximately $9,898,000. Sanctuary Advisors LLC bought a new position in shares of Biogen in the second quarter worth approximately $1,387,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Biogen by 8.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,309 shares of the biotechnology company’s stock valued at $1,694,000 after buying an additional 543 shares during the last quarter. 87.93% of the stock is owned by institutional investors.

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.