Biogen (NASDAQ:BIIB) Given New $175.00 Price Target at JPMorgan Chase & Co.

Biogen (NASDAQ:BIIB) had its price objective lowered by JPMorgan Chase & Co. from $185.00 to $175.00 in a research note released on Monday,Benzinga reports. The firm currently has a neutral rating on the biotechnology company’s stock.

BIIB has been the topic of a number of other research reports. Argus lowered Biogen from a “buy” rating to a “hold” rating in a research note on Friday, April 4th. Hsbc Global Res cut Biogen from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 28th. Citigroup cut their price objective on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Piper Sandler decreased their target price on shares of Biogen from $135.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Finally, BMO Capital Markets cut their price target on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a report on Thursday, February 13th. Twenty research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $194.56.

Biogen Stock Down 1.4 %

Shares of BIIB opened at $121.80 on Monday. The firm has a market cap of $17.83 billion, a P/E ratio of 10.88, a price-to-earnings-growth ratio of 1.51 and a beta of 0.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. Biogen has a 52 week low of $110.04 and a 52 week high of $238.00. The firm’s 50-day simple moving average is $130.21 and its 200 day simple moving average is $145.97.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.26 by ($0.24). Biogen had a return on equity of 14.98% and a net margin of 16.87%. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter last year, the firm earned $3.67 EPS. Biogen’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, analysts forecast that Biogen will post 15.83 earnings per share for the current year.

Insider Activity at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the sale, the director now owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Lee Danner & Bass Inc. bought a new stake in Biogen in the fourth quarter worth approximately $25,000. Larson Financial Group LLC lifted its position in shares of Biogen by 640.9% during the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 141 shares during the period. Colonial Trust Co SC boosted its stake in Biogen by 9,300.0% during the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 186 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in Biogen in the first quarter worth $26,000. Finally, SRS Capital Advisors Inc. bought a new stake in Biogen in the fourth quarter valued at $33,000. 87.93% of the stock is owned by institutional investors and hedge funds.

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.