Biogen (NASDAQ:BIIB) Given New $202.00 Price Target at UBS Group

Biogen (NASDAQ:BIIB) had its price target cut by research analysts at UBS Group from $234.00 to $202.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the biotechnology company’s stock. UBS Group’s target price suggests a potential upside of 9.38% from the company’s current price.

A number of other equities analysts have also recently issued reports on BIIB. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $292.00 price objective on shares of Biogen in a research note on Thursday, September 19th. Mizuho reduced their price objective on shares of Biogen from $277.00 to $251.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 6th. William Blair reiterated an “outperform” rating on shares of Biogen in a report on Wednesday, July 3rd. Wedbush cut their target price on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating on the stock in a report on Monday, September 23rd. Finally, Piper Sandler cut their target price on shares of Biogen from $335.00 to $313.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Biogen presently has a consensus rating of “Moderate Buy” and a consensus price target of $274.78.

Biogen Price Performance

NASDAQ:BIIB traded down $4.07 during mid-day trading on Thursday, hitting $184.67. The company’s stock had a trading volume of 1,110,971 shares, compared to its average volume of 1,115,216. The company has a current ratio of 2.29, a quick ratio of 1.48 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $26.89 billion, a price-to-earnings ratio of 23.05, a P/E/G ratio of 1.97 and a beta of -0.06. Biogen has a fifty-two week low of $183.56 and a fifty-two week high of $269.43. The stock has a fifty day moving average of $202.05 and a 200-day moving average of $213.30.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.00 by $1.28. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same period in the prior year, the firm earned $4.02 earnings per share. The company’s quarterly revenue was up .4% compared to the same quarter last year. As a group, equities analysts forecast that Biogen will post 16.12 EPS for the current fiscal year.

Insider Activity

In related news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction dated 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 owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.16% of the company’s stock.

Institutional Trading of Biogen

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Livelsberger Financial Advisory acquired a new stake in Biogen in the 4th quarter worth about $26,000. Plato Investment Management Ltd raised its stake in Biogen by 82.8% in the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 53 shares in the last quarter. Rise Advisors LLC acquired a new stake in Biogen in the 1st quarter worth about $27,000. Itau Unibanco Holding S.A. acquired a new stake in Biogen in the 2nd quarter worth about $33,000. Finally, Versant Capital Management Inc raised its stake in Biogen by 123.2% in the 2nd quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 85 shares in the last quarter. Institutional investors 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.