Morgan Stanley Lowers Biogen (NASDAQ:BIIB) Price Target to $152.00

Biogen (NASDAQ:BIIB) had its price target reduced by equities research analysts at Morgan Stanley from $157.00 to $152.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the biotechnology company’s stock. Morgan Stanley’s price target would suggest a potential upside of 36.74% from the stock’s current price.

BIIB has been the topic of several other reports. Needham & Company LLC restated a “hold” rating on shares of Biogen in a research note on Thursday, February 13th. BMO Capital Markets lowered their target price on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a report on Thursday, February 13th. The Goldman Sachs Group cut their price target on Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Argus lowered Biogen from a “buy” rating to a “hold” rating in a research note on Friday, April 4th. Finally, Truist Financial cut their target price on Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Eighteen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $213.15.

Biogen Stock Performance

Shares of BIIB traded down $2.89 during trading hours on Wednesday, hitting $111.16. The company had a trading volume of 204,692 shares, compared to its average volume of 1,330,950. The business has a fifty day moving average of $138.85 and a 200-day moving average of $155.86. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The firm has a market cap of $16.27 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 1.51 and a beta of 0.06. Biogen has a 12 month low of $109.14 and a 12 month high of $238.00.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Equities analysts anticipate that Biogen will post 15.83 EPS for the current fiscal year.

Insider Activity

In other news, Director Stephen A. Sherwin sold 8,760 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the transaction, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Biogen

A number of hedge funds have recently bought and sold shares of the company. Larson Financial Group LLC raised its position in shares of Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 141 shares in the last quarter. Lee Danner & Bass Inc. acquired a new stake in Biogen during the fourth quarter worth approximately $25,000. Colonial Trust Co SC increased its holdings in Biogen by 9,300.0% in the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 186 shares in the last quarter. OFI Invest Asset Management acquired a new position in Biogen in the fourth quarter valued at approximately $32,000. Finally, SRS Capital Advisors Inc. bought a new position in shares of Biogen during the 4th quarter worth approximately $33,000. 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.