Biogen (NASDAQ:BIIB) Price Target Lowered to $210.00 at JPMorgan Chase & Co.

Biogen (NASDAQ:BIIB) had its price target trimmed by JPMorgan Chase & Co. from $220.00 to $210.00 in a research note published on Monday, Benzinga reports. The brokerage currently has a neutral rating on the biotechnology company’s stock.

Several other research analysts have also recently issued reports on BIIB. HC Wainwright restated a “buy” rating and issued a $300.00 target price on shares of Biogen in a report on Thursday, October 31st. Barclays cut their price target on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. 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. Raymond James reissued a “market perform” rating on shares of Biogen in a research note on Thursday, October 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $270.00 price target on shares of Biogen in a report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Biogen has an average rating of “Moderate Buy” and a consensus target price of $261.58.

Biogen Stock Performance

Biogen stock opened at $173.52 on Monday. The firm has a fifty day simple moving average of $192.09 and a two-hundred day simple moving average of $209.47. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. Biogen has a twelve month low of $170.71 and a twelve month high of $268.30. The company has a market capitalization of $25.29 billion, a PE ratio of 15.67, a P/E/G ratio of 1.65 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the prior year, the business posted $4.36 EPS. Biogen’s quarterly revenue was down 2.5% compared to the same quarter last year. Research analysts expect that Biogen will post 16.4 EPS for the current year.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total value of $88,018.82. Following the transaction, the insider now owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Biogen

Hedge funds have recently made changes to their positions in the company. KCM Investment Advisors LLC raised its holdings in shares of Biogen by 1.7% during the 1st quarter. KCM Investment Advisors LLC now owns 2,953 shares of the biotechnology company’s stock worth $637,000 after acquiring an additional 48 shares in the last quarter. First Horizon Advisors Inc. raised its stake in Biogen by 39.8% during the second quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 49 shares in the last quarter. QRG Capital Management Inc. lifted its position in Biogen by 2.0% during the first quarter. QRG Capital Management Inc. now owns 2,634 shares of the biotechnology company’s stock valued at $568,000 after purchasing an additional 51 shares during the last quarter. Plato Investment Management Ltd increased its stake in Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 53 shares during the last quarter. Finally, Jacobi Capital Management LLC increased its position in shares of Biogen by 3.4% during the 1st quarter. Jacobi Capital Management LLC now owns 1,664 shares of the biotechnology company’s stock valued at $359,000 after purchasing an additional 55 shares during the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

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.