Biogen Inc. (NASDAQ:BIIB) Receives Average Rating of “Moderate Buy” from Brokerages

Biogen Inc. (NASDAQ:BIIB) has earned an average rating of “Moderate Buy” from the twenty-five analysts that are presently covering the firm, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $271.39.

A number of research firms recently issued reports on BIIB. Wedbush dropped their price objective on Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. Raymond James restated a “market perform” rating on shares of Biogen in a report on Thursday, October 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $292.00 price objective on shares of Biogen in a report on Monday, September 9th. UBS Group dropped their target price on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Finally, Truist Financial reaffirmed a “buy” rating and set a $302.00 price target (down previously from $340.00) on shares of Biogen in a research note on Monday, August 5th.

Insider Activity

In related news, insider Priya Singhal sold 431 shares of the business’s 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 transaction, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Biogen

A number of large investors have recently modified their holdings of BIIB. Eastern Bank purchased a new position in shares of Biogen in the 3rd quarter valued at approximately $179,000. Arlington Partners LLC raised its holdings in shares of Biogen by 34.3% in the third quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company’s stock worth $3,724,000 after buying an additional 4,902 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Biogen by 3.4% in the third quarter. Raymond James & Associates now owns 192,065 shares of the biotechnology company’s stock worth $37,230,000 after buying an additional 6,384 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Biogen by 165.2% during the third quarter. Blue Trust Inc. now owns 472 shares of the biotechnology company’s stock worth $91,000 after buying an additional 294 shares during the period. Finally, Kirr Marbach & Co. LLC IN grew its holdings in shares of Biogen by 0.4% during the third quarter. Kirr Marbach & Co. LLC IN now owns 34,376 shares of the biotechnology company’s stock valued at $6,663,000 after buying an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Trading Down 2.9 %

Shares of BIIB opened at $184.65 on Tuesday. The company’s fifty day simple moving average is $196.76 and its 200-day simple moving average is $210.79. The company has a market cap of $26.88 billion, a P/E ratio of 23.05, a P/E/G ratio of 1.87 and a beta of -0.06. The company has a current ratio of 2.29, a quick ratio of 1.48 and a debt-to-equity ratio of 0.40. Biogen has a twelve month low of $181.31 and a twelve month high of $268.30.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.00 by $1.28. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter last year, the firm earned $4.02 earnings per share. As a group, analysts expect that Biogen will post 16.13 EPS for the current year.

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.