Biogen (NASDAQ:BIIB) PT Lowered to $215.00

Biogen (NASDAQ:BIIB - Get Free Report) had its target price decreased by investment analysts at Barclays from $230.00 to $215.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an "equal weight" rating on the biotechnology company's stock. Barclays's target price indicates a potential upside of 4.72% from the stock's current price.

BIIB has been the topic of a number of other research reports. UBS Group cut their price objective on shares of Biogen from $276.00 to $250.00 and set a "neutral" rating on the stock in a report on Friday, February 16th. BTIG Research restated a "neutral" rating on shares of Biogen in a research report on Sunday, January 7th. Bank Of America (Bofa) decreased their price objective on shares of Biogen from $290.00 to $280.00 and set a "neutral" rating for the company in a report on Monday, February 12th. Mizuho reduced their target price on shares of Biogen from $355.00 to $277.00 and set a "buy" rating for the company in a report on Thursday, February 22nd. Finally, Piper Sandler reduced their target price on shares of Biogen from $350.00 to $325.00 and set an "overweight" rating for the company in a report on Wednesday, February 14th. Nine research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $302.52.

Biogen Price Performance

Shares of Biogen stock traded down $1.08 during trading on Thursday, hitting $205.30. 776,100 shares of the company were exchanged, compared to its average volume of 1,169,792. The company has a quick ratio of 1.26, a current ratio of 2.00 and a debt-to-equity ratio of 0.46. Biogen has a fifty-two week low of $205.22 and a fifty-two week high of $319.76. The stock has a market capitalization of $29.84 billion, a price-to-earnings ratio of 26.02, a P/E/G ratio of 1.73 and a beta of -0.02. The firm has a 50 day moving average price of $226.03 and a 200 day moving average price of $240.51.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.18 by ($0.23). Biogen had a net margin of 11.81% and a return on equity of 14.91%. The company had revenue of $2.39 billion for the quarter, compared to analysts' expectations of $2.47 billion. During the same period in the prior year, the firm earned $4.05 earnings per share. On average, equities analysts expect that Biogen will post 15.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 262 shares of Biogen 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 completion of the sale, the insider now owns 4,886 shares in the company, valued at approximately $1,080,929.78. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Eric K. Rowinsky acquired 455 shares of the firm's stock in a transaction that occurred on Thursday, February 15th. The stock was purchased at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the acquisition, the director now owns 20,629 shares in the company, valued at $4,590,777.66. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Priya Singhal sold 262 shares of Biogen 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 completion of the transaction, the insider now directly owns 4,886 shares in the company, valued at approximately $1,080,929.78. The disclosure for this sale can be found here. Over the last three months, insiders sold 882 shares of company stock valued at $202,030. Insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Altshuler Shaham Ltd bought a new stake in shares of Biogen in the fourth quarter worth $25,000. OFI Invest Asset Management acquired a new stake in Biogen during the 3rd quarter worth approximately $26,000. Livelsberger Financial Advisory acquired a new position in shares of Biogen in the 4th quarter worth approximately $26,000. Gladius Capital Management LP acquired a new position in shares of Biogen in the 3rd quarter worth approximately $28,000. Finally, KB Financial Partners LLC increased its stake in shares of Biogen by 105.1% in the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company's stock valued at $31,000 after acquiring an additional 62 shares in the last quarter. Institutional investors own 87.93% of the company's stock.

About Biogen

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.