Biogen (NASDAQ:BIIB) PT Lowered to $202.00

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

A number of other equities research analysts have also recently commented on the company. Mizuho decreased their price target on Biogen from $277.00 to $251.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. Barclays lowered their price target on Biogen from $200.00 to $190.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $285.00 price objective on shares of Biogen in a research report on Tuesday, September 24th. William Blair reissued an “outperform” rating on shares of Biogen in a report on Wednesday, July 3rd. Finally, StockNews.com raised shares of Biogen from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $273.78.

Biogen Price Performance

Shares of Biogen stock opened at $185.68 on Thursday. The stock’s fifty day moving average is $200.69 and its 200 day moving average is $212.87. Biogen has a one year low of $183.56 and a one year high of $269.43. 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 stock has a market cap of $27.03 billion, a P/E ratio of 23.18, a P/E/G ratio of 1.97 and a beta of -0.06.

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

Insiders Place Their Bets

In other news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the sale, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Biogen

Several large investors have recently bought and sold shares of the company. Leo Wealth LLC purchased a new position in shares of Biogen in the fourth quarter worth about $2,265,000. Duality Advisers LP acquired a new position in shares of Biogen during the 1st quarter worth approximately $1,290,000. Tocqueville Asset Management L.P. grew its position in shares of Biogen by 924.4% in the first quarter. Tocqueville Asset Management L.P. now owns 46,200 shares of the biotechnology company’s stock valued at $9,962,000 after purchasing an additional 41,690 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Biogen by 0.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 386,482 shares of the biotechnology company’s stock valued at $83,337,000 after purchasing an additional 3,380 shares during the last quarter. Finally, Cetera Investment Advisers lifted its position in Biogen by 235.1% during the first quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock worth $3,204,000 after buying an additional 10,425 shares in the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

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.