Biogen Inc. (NASDAQ:BIIB) Receives $261.58 Average PT from Analysts

Shares of Biogen Inc. (NASDAQ:BIIB) have been given an average recommendation of “Moderate Buy” by the twenty-eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. Twelve equities research analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $258.96.

BIIB has been the subject of several research reports. StockNews.com upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 2nd. Wolfe Research began coverage on shares of Biogen in a report on Friday. They issued a “peer perform” rating for the company. Oppenheimer lowered their price target on Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Citigroup initiated coverage on Biogen in a research note on Thursday. They set a “neutral” rating and a $190.00 price objective for the company. Finally, Morgan Stanley lowered Biogen from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $285.00 to $204.00 in a report on Thursday, October 31st.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $159.99 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. Biogen has a 12 month low of $159.60 and a 12 month high of $268.30. The firm has a market capitalization of $23.31 billion, a P/E ratio of 14.45, a P/E/G ratio of 1.57 and a beta of -0.06. The company’s fifty day moving average price is $186.80 and its 200 day moving average price is $207.77.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business’s revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $4.36 EPS. As a group, sell-side analysts predict that Biogen will post 16.4 earnings per share for the current fiscal year.

Insider Activity at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of the 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 owns 5,316 shares in the company, valued at approximately $1,085,633.52. This represents a 7.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Biogen by 15.0% in the 1st quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock worth $3,573,075,000 after buying an additional 2,163,068 shares during the last quarter. Primecap Management Co. CA boosted its position in shares of Biogen by 0.7% in the second quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock worth $3,787,543,000 after acquiring an additional 117,578 shares during the last quarter. State Street Corp grew its holdings in Biogen by 3.5% in the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after purchasing an additional 248,942 shares during the period. Price T Rowe Associates Inc. MD increased its position in Biogen by 5.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,589,629 shares of the biotechnology company’s stock worth $342,772,000 after purchasing an additional 81,283 shares during the last quarter. Finally, RA Capital Management L.P. raised its stake in Biogen by 20.6% during the third quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock worth $229,595,000 after purchasing an additional 202,317 shares during the period. 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.