UBS Group Trims Biogen (NASDAQ:BIIB) Target Price to $214.00

Biogen (NASDAQ:BIIB) had its target price decreased by UBS Group from $250.00 to $214.00 in a report published on Wednesday morning, Benzinga reports. UBS Group currently has a neutral rating on the biotechnology company’s stock.

Several other research analysts have also issued reports on the stock. Mizuho cut their target price on shares of Biogen from $355.00 to $277.00 and set a buy rating for the company in a research report on Thursday, February 22nd. Barclays cut their target price on shares of Biogen from $230.00 to $215.00 and set an equal weight rating for the company in a research report on Thursday, April 4th. Oppenheimer cut their target price on shares of Biogen from $295.00 to $290.00 and set an outperform rating for the company in a research report on Wednesday, February 14th. JPMorgan Chase & Co. cut their target price on shares of Biogen from $270.00 to $240.00 and set a neutral rating for the company in a research report on Thursday, April 11th. Finally, Needham & Company LLC lowered their price target on shares of Biogen from $305.00 to $300.00 and set a buy rating for the company in a research note on Tuesday, February 13th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $295.58.

Biogen Stock Up 2.0 %

Shares of NASDAQ:BIIB opened at $194.38 on Wednesday. The firm has a fifty day moving average price of $215.23 and a two-hundred day moving average price of $235.83. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.00 and a quick ratio of 1.26. Biogen has a one year low of $189.44 and a one year high of $319.76. The company has a market cap of $28.26 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 1.83 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). Biogen had a return on equity of 14.91% and a net margin of 11.81%. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the prior year, the firm posted $4.05 earnings per share. Analysts anticipate that Biogen will post 15.48 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Priya Singhal sold 262 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the transaction, the insider now directly owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Eric K. Rowinsky purchased 455 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average cost of $222.54 per share, with a total value of $101,255.70. Following the completion of the purchase, the director now directly owns 20,629 shares in the company, valued at $4,590,777.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Priya Singhal sold 262 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the sale, the insider now owns 4,886 shares in the company, valued at approximately $1,080,929.78. The disclosure for this sale can be found here. Insiders sold a total of 882 shares of company stock valued at $202,030 over the last three months. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Biogen

A number of hedge funds and other institutional investors have recently bought and sold shares of BIIB. Altshuler Shaham Ltd purchased a new stake in Biogen in the fourth quarter worth about $25,000. OFI Invest Asset Management purchased a new stake in Biogen in the third quarter worth about $26,000. Livelsberger Financial Advisory purchased a new stake in Biogen in the fourth quarter worth about $26,000. Rise Advisors LLC purchased a new stake in Biogen in the first quarter worth about $27,000. Finally, Gladius Capital Management LP purchased a new stake in Biogen in the third quarter worth about $28,000. 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.