Barclays Issues Pessimistic Forecast for Biogen (NASDAQ:BIIB) Stock Price

Biogen (NASDAQ:BIIB) had its price objective trimmed by Barclays from $190.00 to $180.00 in a report published on Thursday, Benzinga reports. The brokerage currently has an equal weight rating on the biotechnology company’s stock.

BIIB has been the subject of several other reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $292.00 target price on shares of Biogen in a report on Monday, September 9th. UBS Group lowered their price objective on Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. Morgan Stanley downgraded Biogen from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $285.00 to $204.00 in a report on Thursday. Wedbush reduced their price target on Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. Finally, Scotiabank dropped 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. Ten equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Biogen has an average rating of “Moderate Buy” and an average price target of $262.83.

Biogen Price Performance

BIIB opened at $173.79 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.48 and a current ratio of 1.26. The stock has a market capitalization of $25.32 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 1.73 and a beta of -0.06. The stock’s 50 day moving average price is $192.71 and its 200-day moving average price is $209.59. Biogen has a 52-week low of $173.14 and a 52-week high of $268.30.

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

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the sale, the insider now directly owns 5,316 shares in the company, valued at approximately $1,085,633.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Biogen

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Biogen by 15.0% during the 1st quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock valued at $3,573,075,000 after buying an additional 2,163,068 shares in the last quarter. International Assets Investment Management LLC increased its stake in Biogen by 19,722.9% in the 3rd quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock worth $695,870,000 after buying an additional 357,181 shares in the last quarter. RA Capital Management L.P. raised its holdings in Biogen by 39.0% during the first 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 stake in shares of Biogen by 1,227.4% in the first quarter. SG Americas Securities LLC now owns 176,262 shares of the biotechnology company’s stock worth $38,007,000 after acquiring an additional 162,983 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Biogen by 27.2% during 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 purchasing an additional 122,101 shares in the last quarter. 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.