Biogen (NASDAQ:BIIB) PT Raised to $342.00 at HSBC

Biogen (NASDAQ:BIIB) had its target price upped by equities research analysts at HSBC from $339.00 to $342.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. HSBC’s target price indicates a potential upside of 57.23% from the stock’s previous close.

BIIB has been the topic of a number of other reports. Robert W. Baird cut their target price on Biogen from $333.00 to $316.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 price objective on shares of Biogen in a research note on Monday, April 29th. Bank of America decreased their target price on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. William Blair reaffirmed an “outperform” rating on shares of Biogen in a research report on Monday, April 1st. Finally, Piper Sandler cut their price target on Biogen from $350.00 to $325.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Ten equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and an average price target of $290.92.

Biogen Trading Up 1.9 %

Shares of NASDAQ:BIIB traded up $4.00 during midday trading on Friday, reaching $217.51. The company’s stock had a trading volume of 1,144,154 shares, compared to its average volume of 1,334,818. The firm has a 50 day moving average price of $212.00 and a two-hundred day moving average price of $232.09. Biogen has a fifty-two week low of $189.44 and a fifty-two week high of $319.76. The firm has a market capitalization of $31.67 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 2.21 and a beta of -0.01. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.45 by $0.22. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The company’s revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.40 earnings per share. As a group, analysts forecast that Biogen will post 15.6 earnings per share for the current year.

Insider Transactions at Biogen

In other news, Director Eric K. Rowinsky acquired 455 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the purchase, the director now owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Eric K. Rowinsky bought 455 shares of Biogen stock in a transaction on Thursday, February 15th. The stock was acquired at an average price of $222.54 per share, with a total value of $101,255.70. Following the acquisition, the director now directly owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Priya Singhal sold 262 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the transaction, the insider now directly owns 4,886 shares of the company’s stock, 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 worth $202,030 in the last quarter. Insiders own 0.60% of the company’s stock.

Institutional Trading of Biogen

Institutional investors and hedge funds have recently modified their holdings of the business. Livelsberger Financial Advisory purchased a new stake in shares of Biogen during the 4th quarter valued at $26,000. OFI Invest Asset Management purchased a new stake in Biogen during the third quarter valued at about $26,000. Gladius Capital Management LP bought a new stake in Biogen during the third quarter worth about $28,000. Hexagon Capital Partners LLC boosted its holdings in shares of Biogen by 76.1% in the 4th quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 51 shares in the last quarter. Finally, KB Financial Partners LLC increased its position in shares of Biogen by 105.1% during the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 62 shares during the last quarter. 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.