2 days Ago By ABMN Staff
Biogen ( NASDAQ:BIIB – Get Free Report ) had its price target dropped by equities researchers at Mizuho from $251.00 to $207.00 in a research report issued to clients and investors on Thursday, Benzinga reports.
The brokerage currently has an “outperform” rating on the biotechnology company’s stock. Mizuho’s price target suggests a potential upside of 31.10% from the company’s current price.
A number of other equities research analysts have also weighed in on the stock. UBS Group lowered their price target on shares of Biogen from $234.00 to $202.
00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Needham & Company LLC lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $270.00 target price on the stock.
in a research note on Monday, November 18th. Citigroup initiated coverage on Biogen in a research note on Thursday, November 14th. They set a “neutral” rating and a $190.
00 price objective on the stock. Morgan Stanley lowered shares of Biogen from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $285.00 to $204.
00 in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. dropped their price target on Biogen from $220.
00 to $210.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Thirteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock.
According to MarketBeat.com, Biogen presently has an average rating of “Moderate Buy” and a consensus target price of $257.20.
Read Our Latest Report on BIIB Biogen Trading Down 0.1 % Biogen ( NASDAQ:BIIB – Get Free Report ) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.
08 EPS for the quarter, topping the consensus estimate of $3.77 by $0.31.
Biogen had a return on equity of 14.98% and a net margin of 16.81%.
The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion.
During the same period in the previous year, the company posted $4.36 EPS. Biogen’s revenue for the quarter was down 2.
5% on a year-over-year basis. Equities analysts forecast that Biogen will post 16.45 earnings per share for the current fiscal year.
Insider Transactions at Biogen In other news, insider Priya Singhal sold 431 shares of the firm’s 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 transaction, the insider now directly owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52.
This trade represents a 7.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website .
0.16% of the stock is currently owned by corporate insiders. Hedge Funds Weigh In On Biogen Institutional investors have recently added to or reduced their stakes in the company.
Edgestream Partners L.P. bought a new position in shares of Biogen in the first quarter valued at approximately $356,000.
O Shaughnessy Asset Management LLC raised its position in Biogen by 5.0% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,940 shares of the biotechnology company’s stock valued at $849,000 after purchasing an additional 188 shares during the last quarter.
EntryPoint Capital LLC acquired a new position in Biogen in the first quarter worth $36,000. Advisors Asset Management Inc. grew its holdings in shares of Biogen by 6.
5% during the first quarter. Advisors Asset Management Inc. now owns 7,441 shares of the biotechnology company’s stock worth $1,605,000 after purchasing an additional 451 shares during the last quarter.
Finally, Toronto Dominion Bank increased its stake in shares of Biogen by 3.7% in the first quarter. Toronto Dominion Bank now owns 95,684 shares of the biotechnology company’s stock valued at $20,632,000 after buying an additional 3,444 shares in the last quarter.
87.93% of the stock is owned by institutional investors. About Biogen ( 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. Recommended Stories Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter .
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