Biogen (NASDAQ:BIIB) Given New $214.00 Price Target at UBS Group

Biogen (NASDAQ:BIIB) had its target price lowered by analysts at UBS Group from $250.00 to $214.00 in a research 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 target points to a potential upside of 12.32% from the stock’s previous close.

BIIB has been the topic of a number of other reports. Piper Sandler dropped their price objective on shares of Biogen from $350.00 to $325.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 14th. Robert W. Baird reduced their price target on shares of Biogen from $333.00 to $316.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $311.00 price target on shares of Biogen in a report on Tuesday, February 20th. BMO Capital Markets reduced their price target on shares of Biogen from $295.00 to $285.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Finally, Barclays reduced their price objective on shares of Biogen from $230.00 to $215.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 4th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $296.35.

Biogen Price Performance

Biogen stock opened at $190.52 on Wednesday. The stock has a market cap of $27.69 billion, a P/E ratio of 23.87, a price-to-earnings-growth ratio of 1.86 and a beta of -0.02. The company has a fifty day simple moving average of $216.17 and a 200-day simple moving average of $236.24. Biogen has a 12-month low of $189.52 and a 12-month high of $319.76. The company has a current ratio of 2.00, a quick ratio of 1.26 and a debt-to-equity ratio of 0.46.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.47 billion. During the same period last year, the firm earned $4.05 earnings per share. Equities analysts expect that Biogen will post 15.48 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Priya Singhal sold 262 shares of the firm’s 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 directly owns 4,886 shares in the company, valued at $1,080,929.78. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Eric K. Rowinsky purchased 455 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the completion of the transaction, the director now directly owns 20,629 shares in the company, valued at approximately $4,590,777.66. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Priya Singhal sold 262 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total transaction of $57,962.26. Following 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. Insiders sold a total of 882 shares of company stock worth $202,030 over the last ninety days. 0.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Biogen

A number of institutional investors have recently bought and sold shares of BIIB. Primecap Management Co. CA grew its holdings in shares of Biogen by 1.6% in the 4th quarter. Primecap Management Co. CA now owns 16,264,481 shares of the biotechnology company’s stock worth $4,208,760,000 after purchasing an additional 251,915 shares during the last quarter. Vanguard Group Inc. lifted its position in Biogen by 18.2% during the 4th quarter. Vanguard Group Inc. now owns 14,407,330 shares of the biotechnology company’s stock valued at $3,728,185,000 after purchasing an additional 2,218,744 shares during the period. State Street Corp lifted its position in Biogen by 2.8% during the 1st quarter. State Street Corp now owns 7,208,906 shares of the biotechnology company’s stock valued at $1,518,196,000 after purchasing an additional 197,400 shares during the period. Wellington Management Group LLP lifted its position in Biogen by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 5,374,310 shares of the biotechnology company’s stock valued at $1,381,251,000 after purchasing an additional 27,951 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in 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 valued at $580,627,000 after purchasing an additional 691,843 shares during the period. Institutional investors and hedge funds 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.