Biogen (NASDAQ:BIIB) Given New $175.00 Price Target at JPMorgan Chase & Co.

Biogen (NASDAQ:BIIB - Get Free Report) had its price target dropped by research analysts at JPMorgan Chase & Co. from $185.00 to $175.00 in a report released on Monday,Benzinga reports. The firm currently has a "neutral" rating on the biotechnology company's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 42.59% from the company's current price.

BIIB has been the topic of a number of other research reports. Morgan Stanley dropped their target price on shares of Biogen from $157.00 to $152.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. The Goldman Sachs Group cut their price objective on shares of Biogen from $219.00 to $197.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Royal Bank of Canada dropped their price target on Biogen from $217.00 to $205.00 and set an "outperform" rating on the stock in a research note on Friday. HSBC cut Biogen from a "buy" rating to a "hold" rating and set a $118.00 price objective for the company. in a research note on Monday, April 28th. Finally, Wells Fargo & Company cut their target price on Biogen from $165.00 to $140.00 and set an "equal weight" rating on the stock in a report on Thursday, February 13th. Twenty research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $194.56.

Biogen Trading Down 0.6 %

NASDAQ BIIB traded down $0.80 during mid-day trading on Monday, reaching $122.73. 115,616 shares of the stock were exchanged, compared to its average volume of 1,351,416. The stock has a market cap of $17.96 billion, a P/E ratio of 11.00, a P/E/G ratio of 1.51 and a beta of 0.13. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. Biogen has a one year low of $110.04 and a one year high of $238.00. The stock has a 50 day simple moving average of $130.58 and a 200-day simple moving average of $146.45.

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

Insider Transactions at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the transaction, the director now owns 11,318 shares in the company, valued at $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The sale 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 corporate insiders.

Institutional Trading of Biogen

A number of institutional investors have recently modified their holdings of the business. Lee Danner & Bass Inc. bought a new stake in Biogen during the 4th quarter valued at $25,000. Larson Financial Group LLC boosted its stake in Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock worth $25,000 after purchasing an additional 141 shares during the period. Colonial Trust Co SC grew its holdings in Biogen by 9,300.0% during the 4th quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock valued at $29,000 after buying an additional 186 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in Biogen in the 1st quarter valued at $26,000. Finally, SRS Capital Advisors Inc. purchased a new position in Biogen during the fourth quarter worth about $33,000. 87.93% of the stock is currently owned by hedge funds and other 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.

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