Biogen (NASDAQ:BIIB) Price Target Raised to $342.00

Biogen (NASDAQ:BIIB) had its price target upped by HSBC from $339.00 to $342.00 in a research note published on Friday, Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Several other analysts also recently commented on BIIB. UBS Group reduced their target price on shares of Biogen from $250.00 to $214.00 and set a neutral rating for the company in a report on Wednesday, April 17th. HC Wainwright reduced their price objective on Biogen from $325.00 to $300.00 and set a buy rating for the company in a report on Thursday, April 25th. Robert W. Baird lowered their target price on Biogen from $333.00 to $316.00 and set an outperform rating on the stock in a research note on Wednesday, February 14th. Bank of America reduced their price target on Biogen from $280.00 to $260.00 and set a neutral rating for the company in a research note on Friday, April 12th. Finally, Bank Of America (Bofa) lowered their price objective on Biogen from $290.00 to $280.00 and set a neutral rating on the stock in a research report on Monday, February 12th. Ten research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $290.92.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $217.51 on Friday. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average price is $212.00 and its two-hundred day moving average price is $231.62. The company has a market cap of $31.67 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 2.21 and a beta of -0.01. Biogen has a twelve month low of $189.44 and a twelve month high of $319.76.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.45 by $0.22. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the company posted $3.40 EPS. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. On average, analysts predict that Biogen will post 15.6 EPS for the current year.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the sale, the insider now directly owns 4,886 shares in the company, valued at approximately $1,080,929.78. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Priya Singhal sold 262 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the transaction, the insider now directly owns 4,886 shares in the company, valued at approximately $1,080,929.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eric K. Rowinsky bought 455 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was bought at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the transaction, the director now directly owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 882 shares of company stock valued at $202,030. 0.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Biogen

A number of institutional investors and hedge funds have recently bought and sold shares of BIIB. Livelsberger Financial Advisory acquired a new stake in shares of Biogen during the fourth quarter valued at about $26,000. OFI Invest Asset Management bought a new position in Biogen in the 3rd quarter valued at approximately $26,000. Gladius Capital Management LP acquired a new stake in Biogen during the 3rd quarter worth approximately $28,000. Hexagon Capital Partners LLC grew its holdings in Biogen by 76.1% during the 4th quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 51 shares during the last quarter. Finally, KB Financial Partners LLC increased its position in Biogen by 105.1% in the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 62 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

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.