Mizuho Cuts Biogen (NASDAQ:BIIB) Price Target to $207.00

Biogen (NASDAQ:BIIB) had its price objective trimmed by Mizuho from $251.00 to $207.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the biotechnology company’s stock.

A number of other equities research analysts have also recently weighed in on BIIB. Morgan Stanley cut Biogen from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $285.00 to $204.00 in a research note on Thursday, October 31st. Scotiabank decreased their price target on shares of Biogen from $275.00 to $244.00 and set a “sector outperform” rating for the company in a research note on Friday, August 2nd. Wolfe Research began coverage on shares of Biogen in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. Robert W. Baird increased their target price on shares of Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Finally, Wedbush lowered their price target on Biogen from $210.00 to $205.00 and set a “neutral” rating on the stock in a report on Monday, September 23rd. Thirteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $257.20.

Biogen Stock Down 0.1 %

Shares of NASDAQ:BIIB opened at $157.90 on Thursday. The firm has a 50 day simple moving average of $181.85 and a 200-day simple moving average of $205.22. Biogen has a twelve month low of $153.62 and a twelve month high of $268.30. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $23.01 billion, a PE ratio of 14.26, a P/E/G ratio of 1.49 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (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 company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the company posted $4.36 earnings per share. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, equities analysts predict that Biogen will post 16.44 EPS for the current fiscal year.

Insider Buying and Selling

In other Biogen 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 in the company, 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 SEC, which can be accessed through this link. 0.16% of the stock is currently owned by insiders.

Institutional Trading of Biogen

Several large investors have recently modified their holdings of BIIB. Plato Investment Management Ltd lifted 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 valued at $25,000 after buying an additional 53 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Biogen in the second quarter worth $33,000. Ashton Thomas Securities LLC purchased a new stake in shares of Biogen in the third quarter valued at $33,000. EntryPoint Capital LLC acquired a new stake in shares of Biogen during the first quarter valued at $36,000. Finally, Versant Capital Management Inc increased its position in Biogen by 123.2% during 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. 87.93% of the stock is currently owned by institutional investors and hedge funds.

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.