Biogen (NASDAQ:BIIB) Given New $169.00 Price Target at Mizuho

Biogen (NASDAQ:BIIB - Get Free Report) had its target price reduced by Mizuho from $207.00 to $169.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the biotechnology company's stock. Mizuho's price target points to a potential upside of 44.27% from the company's previous close.

A number of other research firms also recently issued reports on BIIB. Canaccord Genuity Group reduced their price target on shares of Biogen from $265.00 to $220.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Argus downgraded Biogen from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. HSBC cut shares of Biogen from a "buy" rating to a "hold" rating and set a $118.00 price objective on the stock. in a research note on Monday, April 28th. Oppenheimer set a $205.00 price target on Biogen in a report on Friday. Finally, BMO Capital Markets cut their target price on shares of Biogen from $156.00 to $139.00 and set a "market perform" rating for the company in a research note on Thursday, February 13th. Twenty analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Biogen presently has a consensus rating of "Hold" and an average target price of $191.30.

Biogen Price Performance

Biogen stock opened at $117.15 on Wednesday. The business has a 50 day simple moving average of $129.75 and a 200-day simple moving average of $145.77. Biogen has a 12 month low of $110.04 and a 12 month high of $238.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The stock has a market capitalization of $17.17 billion, a PE ratio of 10.42, a price-to-earnings-growth ratio of 1.51 and a beta of 0.12.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.26 by ($0.24). Biogen had a return on equity of 14.98% and a net margin of 16.87%. The business had revenue of $2.43 billion during the quarter, compared to analysts' expectations of $2.25 billion. During the same quarter in the previous year, the company posted $3.67 EPS. The company's revenue was up 6.2% compared to the same quarter last year. Equities analysts predict that Biogen will post 15.83 earnings per share for the current year.

Insider Buying and Selling at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the transaction, the director now directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Biogen

Institutional investors have recently modified their holdings of the company. Signaturefd LLC increased its position in Biogen by 3.5% in the 4th quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company's stock valued at $320,000 after acquiring an additional 71 shares during the period. Quent Capital LLC raised its holdings in Biogen by 31.9% during the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company's stock worth $46,000 after purchasing an additional 72 shares in the last quarter. Principal Securities Inc. lifted its position in Biogen by 30.1% in the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company's stock worth $52,000 after purchasing an additional 78 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Biogen by 1.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company's stock valued at $767,000 after purchasing an additional 79 shares in the last quarter. Finally, Israel Discount Bank of New York increased its position in shares of Biogen by 6.2% during the 4th quarter. Israel Discount Bank of New York now owns 1,405 shares of the biotechnology company's stock valued at $215,000 after purchasing an additional 82 shares during the period. 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.

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