Biogen (NASDAQ:BIIB) Given New $270.00 Price Target at Oppenheimer

Biogen (NASDAQ:BIIB - Get Free Report) had its price target lowered by equities research analysts at Oppenheimer from $290.00 to $270.00 in a research report issued on Friday, Benzinga reports. The firm presently has an "outperform" rating on the biotechnology company's stock. Oppenheimer's price objective suggests a potential upside of 38.90% from the stock's current price.

A number of other equities analysts have also issued reports on BIIB. Truist Financial reissued a "buy" rating and issued a $340.00 price objective on shares of Biogen in a report on Monday, March 25th. Mizuho reduced their target price on Biogen from $355.00 to $277.00 and set a "buy" rating for the company in a report on Thursday, February 22nd. William Blair restated an "outperform" rating on shares of Biogen in a report on Monday, April 1st. JPMorgan Chase & Co. dropped their price target on shares of Biogen from $270.00 to $240.00 and set a "neutral" rating on the stock in a research note on Thursday, April 11th. Finally, Robert W. Baird lowered their target price on shares of Biogen from $333.00 to $316.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 14th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $295.58.

Biogen Stock Up 2.0 %

Shares of NASDAQ:BIIB traded up $3.86 during trading on Friday, hitting $194.38. The company's stock had a trading volume of 1,599,576 shares, compared to its average volume of 1,162,019. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.26 and a current ratio of 2.00. The company has a market capitalization of $28.26 billion, a PE ratio of 24.36, a PEG ratio of 1.83 and a beta of -0.02. Biogen has a fifty-two week low of $189.44 and a fifty-two week high of $319.76. The stock's 50-day moving average price is $215.23 and its two-hundred day moving average price is $235.83.

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 for the quarter, missing the consensus estimate of $3.18 by ($0.23). The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.47 billion. Biogen had a net margin of 11.81% and a return on equity of 14.91%. During the same period in the prior year, the firm earned $4.05 earnings per share. As a group, sell-side analysts expect that Biogen will post 15.48 EPS for the current year.

Insider Transactions at Biogen

In related news, Director Eric K. Rowinsky acquired 455 shares of the stock in a transaction 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 transaction, the director now owns 20,629 shares of the company's stock, valued at approximately $4,590,777.66. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Eric K. Rowinsky purchased 455 shares of Biogen stock in a transaction that occurred on Thursday, February 15th. The shares were bought at an average cost of $222.54 per share, with a total value of $101,255.70. Following the completion of the purchase, the director now directly owns 20,629 shares in the company, valued at $4,590,777.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Priya Singhal sold 419 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $239.45, for a total value of $100,329.55. Following the completion of the sale, the insider now directly owns 4,516 shares in the company, valued at $1,081,356.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 882 shares of company stock valued at $202,030. 0.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BIIB. Altshuler Shaham Ltd bought a new stake in Biogen during the 4th quarter valued at approximately $25,000. OFI Invest Asset Management bought a new stake in Biogen during the 3rd quarter valued at approximately $26,000. Livelsberger Financial Advisory bought a new stake in Biogen during the 4th quarter valued at approximately $26,000. Rise Advisors LLC bought a new stake in Biogen during the 1st quarter valued at approximately $27,000. Finally, Gladius Capital Management LP bought a new stake in Biogen during the 3rd quarter valued at approximately $28,000. 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.