Biogen Inc. (NASDAQ:BIIB) Given Consensus Recommendation of “Hold” by Analysts

Shares of Biogen Inc. (NASDAQ:BIIB) have been given a consensus rating of “Hold” by the twenty-eight ratings firms that are covering the firm, Marketbeat Ratings reports. Sixteen investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $230.00.

A number of research firms recently weighed in on BIIB. Wolfe Research initiated coverage on Biogen in a report on Friday, November 15th. They set a “peer perform” rating on the stock. StockNews.com cut Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. Morgan Stanley cut shares of Biogen from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $285.00 to $204.00 in a report on Thursday, October 31st. Bank of America reissued a “neutral” rating and set a $178.00 price objective on shares of Biogen in a report on Tuesday, December 10th. Finally, Barclays dropped their price target on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st.

Biogen Stock Up 1.8 %

BIIB opened at $148.76 on Thursday. Biogen has a twelve month low of $139.71 and a twelve month high of $251.99. The firm’s 50-day simple moving average is $151.93 and its 200-day simple moving average is $181.26. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The firm has a market cap of $21.68 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 1.64 and a beta of -0.07.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the previous year, the company earned $4.36 EPS. Biogen’s revenue was down 2.5% on a year-over-year basis. Equities research analysts anticipate that Biogen will post 16.41 EPS for the current fiscal year.

Institutional Trading of Biogen

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Grandfield & Dodd LLC grew its holdings in shares of Biogen by 5.2% during the 3rd quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock valued at $244,000 after purchasing an additional 62 shares during the last quarter. Quintet Private Bank Europe S.A. raised its holdings in Biogen by 9.7% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock worth $138,000 after purchasing an additional 63 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in Biogen by 25.0% in the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after buying an additional 77 shares during the period. Huntington National Bank boosted its position in shares of Biogen by 3.5% during the 3rd quarter. Huntington National Bank now owns 2,308 shares of the biotechnology company’s stock valued at $447,000 after purchasing an additional 79 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Biogen by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company’s stock valued at $767,000 after purchasing an additional 79 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

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.