Biogen (NASDAQ:BIIB) Price Target Cut to $190.00 by Analysts at Citigroup

Biogen (NASDAQ:BIIB) had its price objective lowered by Citigroup from $215.00 to $190.00 in a report released on Monday morning, Marketbeat reports. The brokerage currently has a neutral rating on the biotechnology company’s stock.

Other analysts also recently issued reports about the company. Canaccord Genuity Group upped their price objective on Biogen from $230.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. Argus upgraded Biogen to a “hold” rating in a research note on Thursday, April 9th. Sanford C. Bernstein restated a “market perform” rating on shares of Biogen in a research note on Monday, February 9th. UBS Group initiated coverage on Biogen in a report on Tuesday, January 6th. They set a “neutral” rating and a $185.00 price target for the company. Finally, Barclays began coverage on shares of Biogen in a research report on Thursday, February 19th. They issued an “equal weight” rating and a $185.00 price objective on the stock. Thirteen equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $208.23.

Biogen Stock Up 2.0%

Shares of NASDAQ:BIIB opened at $176.37 on Monday. The stock has a market cap of $25.88 billion, a P/E ratio of 20.02, a P/E/G ratio of 2.31 and a beta of 0.16. The firm has a fifty day moving average price of $186.54 and a 200 day moving average price of $173.24. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.68 and a quick ratio of 2.03. Biogen has a 1-year low of $114.66 and a 1-year high of $202.41.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Friday, February 6th. The biotechnology company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.38. Biogen had a net margin of 13.07% and a return on equity of 12.64%. The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same period in the previous year, the business posted $3.44 earnings per share. Biogen’s quarterly revenue was down 7.2% on a year-over-year basis. Biogen has set its FY 2026 guidance at 15.250-16.250 EPS. Sell-side analysts predict that Biogen will post 15.83 EPS for the current year.

Insider Activity

In other news, insider Priya Singhal sold 2,660 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $199.83, for a total value of $531,547.80. Following the completion of the sale, the insider directly owned 8,043 shares of the company’s stock, valued at $1,607,232.69. This trade represents a 24.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Biogen

A number of hedge funds and other institutional investors have recently bought and sold shares of BIIB. Rothschild Investment LLC increased its holdings in shares of Biogen by 12.3% in the 4th quarter. Rothschild Investment LLC now owns 513 shares of the biotechnology company’s stock valued at $90,000 after purchasing an additional 56 shares in the last quarter. Itau Unibanco Holding S.A. boosted its holdings in Biogen by 24.4% during the fourth quarter. Itau Unibanco Holding S.A. now owns 337 shares of the biotechnology company’s stock worth $59,000 after buying an additional 66 shares in the last quarter. Advisory Services Network LLC grew its position in Biogen by 3.9% during the third quarter. Advisory Services Network LLC now owns 1,792 shares of the biotechnology company’s stock worth $251,000 after buying an additional 68 shares during the period. CVA Family Office LLC grew its position in Biogen by 18.1% during the third quarter. CVA Family Office LLC now owns 464 shares of the biotechnology company’s stock worth $65,000 after buying an additional 71 shares during the period. Finally, Davis Investment Partners LLC increased its holdings in Biogen by 1.7% in the fourth quarter. Davis Investment Partners LLC now owns 4,374 shares of the biotechnology company’s stock valued at $778,000 after buying an additional 71 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Company Profile

Biogen Inc is a multinational biotechnology company focused on discovering, developing and delivering therapies for neurological and neurodegenerative diseases. Headquartered in Cambridge, Massachusetts, the company has a longstanding emphasis on neuroscience, with research and commercial activities spanning multiple therapeutic areas including multiple sclerosis, spinal muscular atrophy and Alzheimer’s disease. Biogen was founded in 1978 and has grown into a global biopharmaceutical firm with operations and commercial presence across North America, Europe, Japan and other international markets.

The company’s marketed portfolio has historically included several well-known therapies for multiple sclerosis such as Avonex, Tysabri and Tecfidera, and it has pursued treatments for rare neurological conditions and genetic neuromuscular disorders.