Barclays Lowers Biogen (NASDAQ:BIIB) Price Target to $180.00

Biogen (NASDAQ:BIIB) had its target price reduced by equities researchers at Barclays from $190.00 to $180.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the biotechnology company’s stock. Barclays‘s target price suggests a potential upside of 2.06% from the stock’s current price.

A number of other research analysts also recently issued reports on the stock. Wedbush cut their target price on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating on the stock in a research report on Monday, September 23rd. Needham & Company LLC restated a “buy” rating and issued a $270.00 price objective on shares of Biogen in a research report on Wednesday. TD Cowen reduced their target price on Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday. Oppenheimer lowered their target price on Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Mizuho dropped their price target on Biogen from $277.00 to $251.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th. Ten equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $262.83.

Biogen Price Performance

Shares of Biogen stock traded down $4.82 during trading on Thursday, hitting $176.36. 861,872 shares of the company’s stock traded hands, compared to its average volume of 1,128,382. Biogen has a twelve month low of $174.76 and a twelve month high of $268.30. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.48. The company has a market cap of $25.68 billion, a PE ratio of 21.99, a PEG ratio of 1.87 and a beta of -0.06. The firm’s fifty day moving average price is $193.92 and its 200 day moving average price is $209.77.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the previous year, the company posted $4.36 earnings per share. Biogen’s quarterly revenue was down 2.5% compared to the same quarter last year. Analysts forecast that Biogen will post 16.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the sale, the insider now owns 5,316 shares of the company’s stock, valued at $1,085,633.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Biogen by 15.0% during the 1st quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock valued at $3,573,075,000 after buying an additional 2,163,068 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Biogen by 19,722.9% during the 3rd quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock valued at $695,870,000 after buying an additional 357,181 shares in the last quarter. RA Capital Management L.P. raised its position in shares of Biogen by 39.0% during the 1st quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock valued at $159,723,000 after buying an additional 207,835 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Biogen by 1,227.4% during the 1st quarter. SG Americas Securities LLC now owns 176,262 shares of the biotechnology company’s stock valued at $38,007,000 after buying an additional 162,983 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Biogen by 27.2% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 570,533 shares of the biotechnology company’s stock valued at $123,024,000 after buying an additional 122,101 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

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.