UBS Group Lowers Biogen (NASDAQ:BIIB) Price Target to $214.00

Biogen (NASDAQ:BIIB) had its price objective reduced by analysts at UBS Group from $250.00 to $214.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the biotechnology company’s stock. UBS Group’s price objective points to a potential upside of 11.37% from the company’s previous close.

Other analysts have also issued reports about the company. Canaccord Genuity Group lowered their target price on Biogen from $310.00 to $305.00 and set a “buy” rating for the company in a research note on Tuesday, February 20th. BMO Capital Markets lowered their target price on Biogen from $295.00 to $285.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Wedbush lowered their target price on Biogen from $245.00 to $213.00 and set a “neutral” rating for the company in a research note on Wednesday. Bank of America lowered their target price on Biogen from $280.00 to $260.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Finally, StockNews.com lowered Biogen from a “buy” rating to a “hold” rating in a research note on Tuesday, February 20th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $296.35.

Biogen Stock Performance

Biogen stock opened at $192.16 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.00 and a quick ratio of 1.26. The stock has a fifty day moving average price of $217.16 and a two-hundred day moving average price of $236.56. Biogen has a 52-week low of $192.01 and a 52-week high of $319.76. The firm has a market capitalization of $27.93 billion, a P/E ratio of 24.08, a P/E/G ratio of 1.86 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last released 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 return on equity of 14.91% and a net margin of 11.81%. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the prior year, the company earned $4.05 earnings per share. As a group, analysts anticipate that Biogen will post 15.48 EPS for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BIIB. Vanguard Group Inc. increased its position in shares of Biogen by 18.2% during the 4th quarter. Vanguard Group Inc. now owns 14,407,330 shares of the biotechnology company’s stock worth $3,728,185,000 after purchasing an additional 2,218,744 shares during the last quarter. Norges Bank acquired a new position in shares of Biogen during the 4th quarter worth approximately $378,728,000. Price T Rowe Associates Inc. MD increased its position in shares of Biogen by 49.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,088,356 shares of the biotechnology company’s stock worth $580,627,000 after purchasing an additional 691,843 shares during the last quarter. FIL Ltd increased its holdings in shares of Biogen by 936.4% during the 4th quarter. FIL Ltd now owns 656,502 shares of the biotechnology company’s stock worth $169,883,000 after acquiring an additional 593,158 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Biogen by 141.0% during the 4th quarter. First Trust Advisors LP now owns 977,308 shares of the biotechnology company’s stock worth $252,898,000 after acquiring an additional 571,795 shares during the last quarter. Institutional investors and hedge funds 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.