Biogen (NASDAQ:BIIB) Given New $215.00 Price Target at Barclays

Biogen (NASDAQ:BIIBGet Free Report) had its price target dropped by Barclays from $230.00 to $215.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the biotechnology company’s stock. Barclays‘s price target indicates a potential upside of 3.69% from the stock’s previous close.

Several other research firms also recently commented on BIIB. Oppenheimer decreased their target price on Biogen from $295.00 to $290.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. Canaccord Genuity Group decreased their target price on Biogen from $310.00 to $305.00 and set a “buy” rating on the stock in a research report on Tuesday, February 20th. UBS Group decreased their target price on Biogen from $276.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, February 16th. Wells Fargo & Company downgraded Biogen from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $315.00 to $240.00 in a research report on Wednesday, February 14th. Finally, StockNews.com downgraded Biogen from a “buy” rating to a “hold” rating in a research report on Tuesday, February 20th. Nine analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $302.52.

Get Our Latest Analysis on Biogen

Biogen Stock Up 0.5 %

BIIB traded up $0.96 on Thursday, hitting $207.34. 86,113 shares of the company were exchanged, compared to its average volume of 1,159,036. Biogen has a 12 month low of $205.26 and a 12 month high of $319.76. The company has a market cap of $30.14 billion, a PE ratio of 26.02, a PEG ratio of 1.73 and a beta of -0.02. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.26 and a current ratio of 2.00. The stock’s fifty day moving average is $226.03 and its 200-day moving average is $240.51.

Biogen (NASDAQ:BIIBGet Free Report) last released its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.18 by ($0.23). The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.47 billion. Biogen had a net margin of 11.81% and a return on equity of 14.91%. During the same quarter in the prior year, the company earned $4.05 EPS. Equities research analysts predict that Biogen will post 15.48 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Priya Singhal sold 262 shares of Biogen stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the transaction, the insider now directly owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Eric K. Rowinsky bought 455 shares of Biogen stock in a transaction dated Thursday, February 15th. The stock was bought at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the purchase, the director now directly owns 20,629 shares in the company, valued at approximately $4,590,777.66. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the sale, the insider now owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The disclosure for this sale can be found here. Insiders sold a total of 882 shares of company stock valued at $202,030 in the last three months. Insiders own 0.60% of the company’s stock.

Institutional Trading of Biogen

Large investors have recently made changes to their positions in the company. Altshuler Shaham Ltd acquired a new stake in shares of Biogen in the 4th quarter valued at about $25,000. OFI Invest Asset Management acquired a new position in Biogen during the 3rd quarter valued at about $26,000. Livelsberger Financial Advisory acquired a new position in Biogen during the 4th quarter valued at about $26,000. Gladius Capital Management LP acquired a new position in Biogen during the 3rd quarter valued at about $28,000. Finally, KB Financial Partners LLC boosted its stake in Biogen by 105.1% during the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 62 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Company Profile

(Get Free Report)

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.

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