Barclays Cuts Biogen (NASDAQ:BIIB) Price Target to $180.00

Biogen (NASDAQ:BIIB) had its target price cut by Barclays from $190.00 to $180.00 in a research report released on Thursday morning, Benzinga reports. They currently have an equal weight rating on the biotechnology company’s stock.

Several other research firms have also recently weighed in on BIIB. Wedbush dropped their price objective on Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. Scotiabank cut their price target on shares of Biogen from $275.00 to $244.00 and set a “sector outperform” rating on the stock in a report on Friday, August 2nd. Mizuho decreased their price objective on shares of Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $270.00 target price on shares of Biogen in a research report on Wednesday. Finally, Morgan Stanley cut shares of Biogen from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $285.00 to $204.00 in a research report on Thursday. Ten investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $262.83.

Biogen Stock Down 0.1 %

Shares of NASDAQ BIIB opened at $173.79 on Thursday. The firm’s fifty day moving average is $192.71 and its 200 day moving average is $209.47. Biogen has a 52 week low of $173.14 and a 52 week high of $268.30. The company has a quick ratio of 1.48, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The company has a market cap of $25.32 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 1.73 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.36 earnings per share. On average, equities research analysts expect that Biogen will post 16.36 earnings per share for the current year.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 431 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the sale, the insider now directly owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is owned by insiders.

Institutional Trading of Biogen

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Biogen by 15.0% during the first quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock valued at $3,573,075,000 after purchasing an additional 2,163,068 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Biogen by 19,722.9% during the 3rd quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock valued at $695,870,000 after acquiring an additional 357,181 shares during the period. RA Capital Management L.P. lifted its stake in Biogen by 39.0% during the 1st quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock valued at $159,723,000 after acquiring an additional 207,835 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Biogen by 1,227.4% during the 1st quarter. SG Americas Securities LLC now owns 176,262 shares of the biotechnology company’s stock valued at $38,007,000 after acquiring an additional 162,983 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Biogen by 27.2% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 570,533 shares of the biotechnology company’s stock worth $123,024,000 after acquiring an additional 122,101 shares during the period. 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.