Biogen Inc (NASDAQ:BIIB) Given Average Rating of “Hold” by Brokerages

Shares of Biogen Inc (NASDAQ:BIIB) have been assigned a consensus rating of “Hold” from the thirty-four ratings firms that are currently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a sell recommendation, seventeen have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $306.48.

A number of research firms recently weighed in on BIIB. Stifel Nicolaus lowered their target price on shares of Biogen from $296.00 to $294.00 and set a “hold” rating on the stock in a research note on Wednesday, April 22nd. Sanford C. Bernstein lowered Biogen from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $360.00 to $297.00 in a research note on Tuesday, June 9th. Wolfe Research began coverage on Biogen in a research note on Tuesday, March 31st. They set a “market perform” rating and a $331.00 target price on the stock. Morgan Stanley reissued a “sell” rating and issued a $301.00 price target on shares of Biogen in a report on Thursday, May 28th. Finally, Canaccord Genuity reduced their price objective on shares of Biogen from $360.00 to $350.00 and set a “buy” rating on the stock in a research report on Friday, April 24th.

Shares of NASDAQ BIIB traded up $7.20 during trading on Tuesday, hitting $267.55. The company had a trading volume of 1,267,023 shares, compared to its average volume of 1,963,196. Biogen has a 12 month low of $215.77 and a 12 month high of $374.99. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.54 and a current ratio of 1.73. The firm has a market capitalization of $42.21 billion, a P/E ratio of 8.26, a price-to-earnings-growth ratio of 0.56 and a beta of 0.54. The stock has a 50 day simple moving average of $293.15 and a 200 day simple moving average of $302.02.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, April 22nd. The biotechnology company reported $9.14 EPS for the quarter, topping analysts’ consensus estimates of $7.73 by $1.41. The company had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.41 billion. Biogen had a net margin of 40.76% and a return on equity of 49.22%. The firm’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business earned $6.98 EPS. As a group, analysts predict that Biogen will post 33.14 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in BIIB. Stralem & Co. Inc. bought a new position in shares of Biogen during the first quarter valued at approximately $32,000. Solstein Capital LLC purchased a new stake in Biogen in the fourth quarter worth $34,000. Covington Capital Management boosted its stake in shares of Biogen by 53.8% during the fourth quarter. Covington Capital Management now owns 120 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 42 shares during the period. Advisory Alpha LLC boosted its stake in shares of Biogen by 318.8% during the fourth quarter. Advisory Alpha LLC now owns 134 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 102 shares during the period. Finally, Total Clarity Wealth Management Inc. bought a new position in shares of Biogen in the fourth quarter worth about $40,000. 87.45% of the stock is owned by hedge funds and other institutional investors.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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