Biogen (NASDAQ:BIIB) Price Target Lowered to $145.00 at Citigroup

Biogen (NASDAQ:BIIB) had its target price lowered by Citigroup from $160.00 to $145.00 in a report released on Thursday,Benzinga reports. The firm currently has a neutral rating on the biotechnology company’s stock.

Several other analysts also recently issued reports on the company. Royal Bank of Canada decreased their price target on Biogen from $231.00 to $225.00 and set an “outperform” rating for the company in a research note on Thursday. Robert W. Baird upped their target price on Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Jefferies Financial Group lowered shares of Biogen from a “buy” rating to a “hold” rating and dropped their price target for the company from $250.00 to $180.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. decreased their price objective on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Finally, Wolfe Research initiated coverage on shares of Biogen in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. Seventeen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $211.96.

Biogen Price Performance

NASDAQ BIIB opened at $138.45 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $20.17 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.65 and a beta of -0.08. Biogen has a 12-month low of $128.51 and a 12-month high of $238.00. The company has a 50 day moving average price of $147.73 and a two-hundred day moving average price of $174.05.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.81% and a return on equity of 14.98%. As a group, equities analysts predict that Biogen will post 16.42 earnings per share for the current fiscal year.

Institutional Trading of Biogen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board boosted its holdings in Biogen by 27.4% during the fourth quarter. Canada Pension Plan Investment Board now owns 261,162 shares of the biotechnology company’s stock valued at $39,937,000 after purchasing an additional 56,132 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Biogen by 20.6% during the 4th quarter. Marshall Wace LLP now owns 79,952 shares of the biotechnology company’s stock worth $12,226,000 after buying an additional 13,652 shares during the period. Jump Financial LLC lifted its position in shares of Biogen by 66.9% during the 4th quarter. Jump Financial LLC now owns 94,554 shares of the biotechnology company’s stock worth $14,459,000 after buying an additional 37,885 shares during the period. Guggenheim Capital LLC boosted its stake in Biogen by 0.9% in the 4th quarter. Guggenheim Capital LLC now owns 60,777 shares of the biotechnology company’s stock valued at $9,294,000 after buying an additional 533 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan bought a new stake in Biogen in the fourth quarter valued at $1,486,000. Institutional investors own 87.93% of the company’s stock.

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.