Biogen Inc. (NASDAQ:BIIB) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Biogen Inc. (NASDAQ:BIIB) have been assigned an average rating of “Hold” from the twenty-nine research firms that are presently covering the firm, Marketbeat reports. Seventeen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $235.68.

A number of equities research analysts have recently weighed in on BIIB shares. Needham & Company LLC lowered Biogen from a “buy” rating to a “hold” rating and set a $270.00 target price for the company. in a research note on Monday, November 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $292.00 price target on shares of Biogen in a report on Monday, September 9th. Bank of America restated a “neutral” rating and issued a $178.00 price objective on shares of Biogen in a research report on Tuesday, December 10th. Wolfe Research began coverage on shares of Biogen in a report on Friday, November 15th. They set a “peer perform” rating for the company. Finally, BMO Capital Markets downgraded Biogen from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $230.00 to $164.00 in a report on Friday, December 20th.

Biogen Trading Down 1.9 %

BIIB stock opened at $150.00 on Friday. Biogen has a one year low of $145.07 and a one year high of $268.30. The company has a market capitalization of $21.86 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 1.74 and a beta of -0.08. The company’s 50 day moving average price is $160.79 and its two-hundred day moving average price is $190.86. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the company earned $4.36 EPS. The firm’s revenue was down 2.5% compared to the same quarter last year. As a group, analysts predict that Biogen will post 16.43 earnings per share for the current fiscal year.

Institutional Trading of Biogen

A number of hedge funds have recently made changes to their positions in the stock. Grandfield & Dodd LLC increased its holdings in shares of Biogen by 5.2% in the 3rd quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock worth $244,000 after purchasing an additional 62 shares in the last quarter. Quintet Private Bank Europe S.A. lifted its position in Biogen by 9.7% during the third quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock valued at $138,000 after purchasing an additional 63 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of Biogen by 25.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock worth $75,000 after purchasing an additional 77 shares during the period. Deseret Mutual Benefit Administrators lifted its holdings in shares of Biogen by 5.5% in the 2nd quarter. Deseret Mutual Benefit Administrators now owns 1,524 shares of the biotechnology company’s stock worth $353,000 after acquiring an additional 79 shares during the last quarter. Finally, Huntington National Bank raised its holdings in shares of Biogen by 3.5% in the third quarter. Huntington National Bank now owns 2,308 shares of the biotechnology company’s stock worth $447,000 after buying an additional 79 shares during the period. 87.93% of the stock is owned by institutional investors.

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.