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

Biogen (NASDAQ:BIIB) had its target price trimmed by Barclays from $215.00 to $200.00 in a report published on Thursday morning, Benzinga reports. They currently have an equal weight rating on the biotechnology company’s stock.

BIIB has been the topic of several other research reports. Wedbush upped their target price on Biogen from $213.00 to $215.00 and gave the company a neutral rating in a research report on Thursday. Canaccord Genuity Group cut their target price on Biogen from $310.00 to $305.00 and set a buy rating on the stock in a research report on Tuesday, February 20th. Bank of America cut their target price on Biogen from $280.00 to $260.00 and set a neutral rating on the stock in a research report on Friday, April 12th. BTIG Research restated a neutral rating on shares of Biogen in a research report on Sunday, January 7th. Finally, UBS Group dropped their price target on Biogen from $250.00 to $214.00 and set a neutral rating on the stock in a research note on Wednesday, April 17th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $293.88.

Biogen Trading Up 3.2 %

NASDAQ BIIB opened at $208.90 on Thursday. The business’s 50-day moving average price is $212.55 and its two-hundred day moving average price is $233.57. Biogen has a 12 month low of $189.44 and a 12 month high of $319.76. The firm has a market capitalization of $30.42 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 2.06 and a beta of -0.02. 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 (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the company posted $3.40 EPS. The business’s revenue was down 7.0% on a year-over-year basis. On average, analysts expect that Biogen will post 15.55 EPS for the current year.

Insider Activity

In other Biogen news, insider Priya Singhal sold 419 shares of the stock in a transaction on 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 directly owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Biogen news, insider Priya Singhal sold 419 shares of the stock in a transaction on 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 directly owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eric K. Rowinsky acquired 455 shares of Biogen stock in a transaction on Thursday, February 15th. The shares were purchased at an average cost of $222.54 per share, with a total value of $101,255.70. Following the completion of the acquisition, 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 valued at $202,030 over the last three months. Corporate insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Biogen

Several institutional investors and hedge funds have recently bought and sold shares of BIIB. Vanguard Group Inc. boosted its holdings in shares of Biogen by 18.2% in the fourth quarter. Vanguard Group Inc. now owns 14,407,330 shares of the biotechnology company’s stock worth $3,728,185,000 after acquiring an additional 2,218,744 shares during the period. Norges Bank bought a new position in shares of Biogen in the fourth quarter worth $378,728,000. FIL Ltd boosted its holdings in shares of Biogen by 936.4% in the fourth quarter. FIL Ltd now owns 656,502 shares of the biotechnology company’s stock worth $169,883,000 after acquiring an additional 593,158 shares during the period. First Trust Advisors LP boosted its holdings in shares of Biogen by 141.0% in the fourth quarter. First Trust Advisors LP now owns 977,308 shares of the biotechnology company’s stock worth $252,898,000 after acquiring an additional 571,795 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in shares of Biogen by 24,726.3% in the fourth quarter. International Assets Investment Management LLC now owns 476,913 shares of the biotechnology company’s stock worth $123,411,000 after acquiring an additional 474,992 shares during the period. 87.93% of the stock is owned by 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.