Biogen Inc. (NASDAQ:BIIB) Given Consensus Recommendation of "Hold" by Brokerages

Biogen Inc. (NASDAQ:BIIB - Get Free Report) has been assigned an average rating of "Hold" from the thirty-two ratings firms that are currently covering the stock, Marketbeat reports. Twenty research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $188.19.

A number of equities research analysts have issued reports on BIIB shares. Morgan Stanley reduced their price objective on shares of Biogen from $157.00 to $152.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Wedbush reiterated a "neutral" rating and set a $121.00 price objective on shares of Biogen in a research note on Thursday, June 12th. HSBC downgraded shares of Biogen from a "buy" rating to a "hold" rating and set a $118.00 price objective on the stock. in a research note on Monday, April 28th. JPMorgan Chase & Co. reduced their price objective on shares of Biogen from $185.00 to $175.00 and set a "neutral" rating on the stock in a research note on Monday, May 5th. Finally, Argus downgraded shares of Biogen from a "buy" rating to a "hold" rating in a research note on Friday, April 4th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BIIB. Larson Financial Group LLC raised its holdings in Biogen by 640.9% during the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock worth $25,000 after purchasing an additional 141 shares during the last quarter. Lee Danner & Bass Inc. bought a new position in Biogen during the 4th quarter worth approximately $25,000. Opal Wealth Advisors LLC bought a new position in Biogen during the 1st quarter worth approximately $26,000. Vision Financial Markets LLC bought a new position in Biogen during the 1st quarter worth approximately $27,000. Finally, Greykasell Wealth Strategies Inc. bought a new position in Biogen during the 1st quarter worth approximately $27,000. Institutional investors own 87.93% of the company's stock.

Biogen Stock Performance

NASDAQ BIIB opened at $127.04 on Friday. 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 firm's fifty day moving average price is $124.83 and its two-hundred day moving average price is $136.25. Biogen has a 1 year low of $110.04 and a 1 year high of $238.00. The firm has a market capitalization of $18.62 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 1.00 and a beta of 0.14.

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

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