UBS Group Lowers Biogen (NASDAQ:BIIB) Price Target to $202.00

Biogen (NASDAQ:BIIB) had its price objective decreased by UBS Group from $234.00 to $202.00 in a research report sent to investors on Thursday, Benzinga reports. UBS Group currently has a neutral rating on the biotechnology company’s stock.

BIIB has been the topic of several other reports. Barclays reduced their price target on Biogen from $200.00 to $190.00 and set an equal weight rating on the stock in a research report on Friday, August 2nd. Truist Financial reaffirmed a buy rating and set a $302.00 price objective (down from $340.00) on shares of Biogen in a research report on Monday, August 5th. Scotiabank decreased their target price on shares of Biogen from $275.00 to $244.00 and set a sector outperform rating for the company in a research note on Friday, August 2nd. Needham & Company LLC restated a buy rating and issued a $285.00 price target on shares of Biogen in a research note on Tuesday, September 24th. Finally, Robert W. Baird dropped their price target on Biogen from $316.00 to $294.00 and set an outperform rating on the stock in a research note on Monday, July 29th. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Biogen presently has a consensus rating of Moderate Buy and a consensus target price of $273.78.

Biogen Trading Up 0.5 %

Shares of BIIB stock opened at $185.68 on Thursday. The company has a market capitalization of $27.03 billion, a PE ratio of 23.18, a price-to-earnings-growth ratio of 1.97 and a beta of -0.06. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.48 and a current ratio of 2.29. The business’s fifty day moving average is $200.69 and its 200 day moving average is $212.79. Biogen has a 52-week low of $183.56 and a 52-week high of $269.43.

Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.00 by $1.28. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Biogen had a return on equity of 15.71% and a net margin of 11.98%. The firm’s revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.02 earnings per share. On average, equities research analysts anticipate that Biogen will post 16.12 EPS for the current fiscal year.

Insider Activity

In other news, insider Priya Singhal sold 431 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the sale, the insider now directly owns 5,316 shares in the company, valued at approximately $1,085,633.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Biogen

Several large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its stake in shares of Biogen by 5.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 135,176 shares of the biotechnology company’s stock worth $34,979,000 after acquiring an additional 6,980 shares in the last quarter. Capital World Investors acquired a new position in Biogen in the 4th quarter worth about $8,850,000. Tower Research Capital LLC TRC lifted its position in shares of Biogen by 171.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 27,389 shares of the biotechnology company’s stock valued at $7,087,000 after buying an additional 17,302 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in shares of Biogen by 33.2% during the 4th quarter. Oppenheimer & Co. Inc. now owns 11,156 shares of the biotechnology company’s stock worth $2,887,000 after purchasing an additional 2,779 shares during the last quarter. Finally, Cibc World Markets Corp lifted its position in shares of Biogen by 60.0% in the fourth quarter. Cibc World Markets Corp now owns 39,452 shares of the biotechnology company’s stock valued at $10,209,000 after acquiring an additional 14,799 shares in the last quarter. 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.