Biogen (NASDAQ:BIIB) Price Target Cut to $202.00 by Analysts at UBS Group

by · The Cerbat Gem

Biogen (NASDAQ:BIIB – Free Report) had its price objective decreased by UBS Group from $234.00 to $202.00 in a report released on Thursday, Benzinga reports. UBS Group currently has a neutral rating on the biotechnology company’s stock.

A number of other research analysts also recently weighed in on the stock. Scotiabank lowered their price target on shares of Biogen from $275.00 to $244.00 and set a sector outperform rating on the stock in a research note on Friday, August 2nd. Piper Sandler lowered their target price on Biogen from $335.00 to $313.00 and set an overweight rating on the stock in a research report on Friday, July 12th. Wedbush dropped their target price on Biogen from $210.00 to $205.00 and set a neutral rating on the stock in a report on Monday, September 23rd. Cantor Fitzgerald restated an overweight rating and issued a $292.00 price target on shares of Biogen in a research note on Monday, September 9th. Finally, Mizuho dropped their price objective on Biogen from $277.00 to $251.00 and set an outperform rating on the stock in a research note on Tuesday, August 6th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $273.78.

View Our Latest Stock Report on BIIB

Biogen Price Performance

BIIB stock opened at $185.68 on Thursday. The stock has a 50-day moving average price of $200.69 and a two-hundred day moving average price of $212.79. Biogen has a 1 year low of $183.56 and a 1 year high of $269.43. The stock has a market cap of $27.03 billion, a PE ratio of 23.18, a price-to-earnings-growth ratio of 1.97 and a beta of -0.06. The company has a current ratio of 2.29, a quick ratio of 1.48 and a debt-to-equity ratio of 0.40.

Biogen (NASDAQ:BIIB – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.00 by $1.28. Biogen had a return on equity of 15.71% and a net margin of 11.98%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same period last year, the company earned $4.02 earnings per share. Biogen’s quarterly revenue was up .4% on a year-over-year basis. Equities analysts forecast that Biogen will post 16.12 EPS for the current fiscal year.

Insider Activity at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the sale, the insider now owns 5,316 shares in the company, valued at $1,085,633.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Livelsberger Financial Advisory acquired a new stake in Biogen during the fourth quarter worth about $26,000. Plato Investment Management Ltd increased its stake in Biogen by 82.8% in the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 53 shares during the last quarter. Rise Advisors LLC bought a new position in shares of Biogen in the 1st quarter valued at $27,000. Itau Unibanco Holding S.A. bought a new position in Biogen in the second quarter valued at about $33,000. Finally, Versant Capital Management Inc boosted its stake in shares of Biogen by 123.2% in the 2nd quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 85 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

About Biogen

(Get Free Report)

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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