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

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

BIIB has been the topic of a number of other research reports. Truist Financial reaffirmed a buy rating and issued a $340.00 target price on shares of Biogen in a research report on Monday, March 25th. Needham & Company LLC dropped their price objective on Biogen from $305.00 to $300.00 and set a buy rating on the stock in a research note on Tuesday, February 13th. BTIG Research reissued a neutral rating on shares of Biogen in a research note on Sunday, January 7th. Wells Fargo & Company lowered shares of Biogen from an overweight rating to an equal weight rating and dropped their price target for the stock from $315.00 to $240.00 in a research report on Wednesday, February 14th. Finally, Piper Sandler decreased their price objective on shares of Biogen from $350.00 to $325.00 and set an overweight rating for the company in a research report on Wednesday, February 14th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $296.35.

Biogen Trading Down 1.5 %

Shares of NASDAQ BIIB opened at $192.16 on Wednesday. The company’s fifty day moving average is $217.16 and its 200-day moving average is $236.56. The company has a quick ratio of 1.26, a current ratio of 2.00 and a debt-to-equity ratio of 0.46. The stock has a market cap of $27.93 billion, a price-to-earnings ratio of 24.08, a P/E/G ratio of 1.86 and a beta of -0.02. Biogen has a twelve month low of $192.01 and a twelve month high of $319.76.

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

Insider Activity

In related news, insider Priya Singhal sold 419 shares of the stock in a transaction that occurred 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 sale, the insider now owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other 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 sale, the insider now directly owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Eric K. Rowinsky purchased 455 shares of the company’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 purchase, the director now owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 882 shares of company stock worth $202,030. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Altshuler Shaham Ltd bought a new stake in shares of Biogen during the 4th quarter valued at approximately $25,000. OFI Invest Asset Management acquired a new stake in shares of Biogen during the 3rd quarter valued at $26,000. Livelsberger Financial Advisory acquired a new position in Biogen in the 4th quarter worth about $26,000. Rise Advisors LLC bought a new position in Biogen in the first quarter valued at about $27,000. Finally, Gladius Capital Management LP acquired a new stake in shares of Biogen during the third quarter valued at about $28,000. 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.