Biogen Inc. (NASDAQ:BIIB) Given Average Rating of "Hold" by Analysts

Biogen Inc. (NASDAQ:BIIB - Get Free Report) has received an average rating of "Hold" from the thirty-two analysts that are covering the company, Marketbeat reports. Twenty investment analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $188.48.

BIIB has been the subject of a number of analyst reports. HC Wainwright reissued a "buy" rating and issued a $187.00 price target on shares of Biogen in a research report on Thursday, June 26th. JPMorgan Chase & Co. decreased their target price on Biogen from $185.00 to $175.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Morgan Stanley decreased their target price on Biogen from $157.00 to $152.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Royal Bank Of Canada set a $213.00 target price on Biogen and gave the company an "outperform" rating in a research report on Wednesday, June 25th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Biogen in a report on Thursday, June 12th.

Insider Transactions at Biogen

In other Biogen news, insider Rachid Izzar sold 2,223 shares of the stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total value of $300,105.00. Following the completion of the transaction, the insider owned 6,330 shares in the company, valued at approximately $854,550. This represents a 25.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On Biogen

Institutional investors have recently added to or reduced their stakes in the company. Integrated Quantitative Investments LLC bought a new position in Biogen in the fourth quarter worth $407,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Biogen by 6.5% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 416,960 shares of the biotechnology company's stock valued at $57,057,000 after acquiring an additional 25,464 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Biogen by 5.5% during the first quarter. Asset Management One Co. Ltd. now owns 61,420 shares of the biotechnology company's stock valued at $8,405,000 after acquiring an additional 3,194 shares in the last quarter. APG Asset Management N.V. increased its holdings in shares of Biogen by 346.1% during the fourth quarter. APG Asset Management N.V. now owns 105,446 shares of the biotechnology company's stock valued at $15,572,000 after acquiring an additional 81,811 shares in the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of Biogen by 36.1% during the fourth quarter. Prudential Financial Inc. now owns 576,276 shares of the biotechnology company's stock valued at $88,124,000 after acquiring an additional 152,992 shares in the last quarter. Institutional investors own 87.93% of the company's stock.

Biogen Stock Down 2.9%

Shares of BIIB traded down $3.70 during trading hours on Thursday, reaching $124.99. The stock had a trading volume of 1,511,417 shares, compared to its average volume of 1,446,763. Biogen has a 12 month low of $110.04 and a 12 month high of $236.48. The firm has a 50-day simple moving average of $129.04 and a 200 day simple moving average of $133.50. The company has a current ratio of 1.44, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $18.31 billion, a price-to-earnings ratio of 12.34, a P/E/G ratio of 1.03 and a beta of 0.14.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing analysts' consensus estimates of $3.26 by ($0.24). The company had revenue of $2.43 billion during the quarter, compared to analysts' expectations of $2.25 billion. Biogen had a net margin of 15.07% and a return on equity of 14.03%. The company's quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $3.67 earnings per share. Equities research analysts predict that Biogen will post 15.83 earnings per share for the current fiscal 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.