Biogen (NASDAQ:BIIB) Given New $207.00 Price Target at Mizuho

Biogen (NASDAQ:BIIB - Get Free Report) had its target price decreased by research analysts at Mizuho from $251.00 to $207.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the biotechnology company's stock. Mizuho's price target indicates a potential upside of 32.69% from the company's current price.

Other analysts have also issued research reports about the stock. Oppenheimer lowered their price objective on shares of Biogen from $270.00 to $255.00 and set an "outperform" rating for the company in a research note on Thursday, October 31st. Wedbush decreased their price target on shares of Biogen from $210.00 to $205.00 and set a "neutral" rating for the company in a research note on Monday, September 23rd. Citigroup began coverage on shares of Biogen in a report on Thursday, November 14th. They set a "neutral" rating and a $190.00 price objective on the stock. StockNews.com raised Biogen from a "buy" rating to a "strong-buy" rating in a research report on Monday, September 2nd. Finally, Barclays dropped their price target on Biogen from $190.00 to $180.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 31st. Thirteen equities research 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 company's stock. Based on data from MarketBeat.com, Biogen has an average rating of "Moderate Buy" and a consensus target price of $257.20.

Biogen Stock Up 0.4 %

Shares of NASDAQ BIIB opened at $156.00 on Thursday. Biogen has a 1 year low of $153.62 and a 1 year high of $268.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The firm has a market cap of $22.73 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 1.47 and a beta of -0.06. The company has a 50 day simple moving average of $183.39 and a 200 day simple moving average of $206.09.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period last year, the company earned $4.36 earnings per share. The firm's revenue was down 2.5% compared to the same quarter last year. On average, research analysts forecast that Biogen will post 16.45 EPS for the current year.

Insider Activity

In other news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the sale, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. The trade was a 7.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Institutional Trading of Biogen

A number of large investors have recently added to or reduced their stakes in the stock. Plato Investment Management Ltd grew its position in shares of Biogen by 82.8% during the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company's stock valued at $25,000 after acquiring an additional 53 shares during the period. Itau Unibanco Holding S.A. bought a new position in Biogen during the second quarter valued at $33,000. Ashton Thomas Securities LLC purchased a new stake in Biogen in the third quarter worth $33,000. EntryPoint Capital LLC bought a new stake in shares of Biogen in the first quarter valued at $36,000. Finally, Versant Capital Management Inc lifted its position in shares of Biogen by 123.2% during the 2nd quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company's stock valued at $36,000 after buying an additional 85 shares during the last quarter. Hedge funds and other 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.

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