Biogen Inc. (NASDAQ:BIIB) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Biogen Inc. has received a consensus recommendation of "Hold" from 32 research firms, with 21 analysts suggesting a hold rating and 11 issuing buy ratings.
• Recent price target adjustments include Citigroup raising its target from $125 to $135, while Royal Bank of Canada increased its target from $208 to $219, maintaining an "outperform" rating.
• Insider selling reports revealed that Priya Singhal sold 517 shares at an average price of $133.55, marking an 8.22% reduction in her holdings.

Shares of Biogen Inc. (NASDAQ:BIIB - Get Free Report) have received an average rating of "Hold" from the thirty-one ratings firms that are presently covering the stock, MarketBeat Ratings reports. Twenty-one investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $181.6538.

BIIB has been the subject of a number of research analyst reports. HC Wainwright increased their price target on shares of Biogen from $187.00 to $194.00 and gave the company a "buy" rating in a report on Friday, August 1st. Citigroup upped their target price on shares of Biogen from $125.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Wedbush reiterated a "neutral" rating and set a $121.00 price target on shares of Biogen in a research report on Thursday, June 12th. Truist Financial started coverage on Biogen in a research note on Monday, July 21st. They set a "hold" rating and a $142.00 price target on the stock. Finally, Morgan Stanley dropped their price objective on Biogen from $146.00 to $144.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st.

Insider Buying and Selling at Biogen

In other news, insider Rachid Izzar sold 2,223 shares of the firm's 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 $854,550. This trade represents a 25.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Priya Singhal sold 517 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total transaction of $69,045.35. Following the completion of the sale, the insider owned 5,772 shares in the company, valued at $770,850.60. This represents a 8.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Biogen

Large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Biogen by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 17,290,651 shares of the biotechnology company's stock worth $2,171,533,000 after purchasing an additional 257,812 shares during the last quarter. State Street Corp grew its holdings in Biogen by 1.0% during the 2nd quarter. State Street Corp now owns 7,468,807 shares of the biotechnology company's stock valued at $938,007,000 after buying an additional 71,897 shares during the last quarter. Geode Capital Management LLC increased its position in Biogen by 1.9% during the second quarter. Geode Capital Management LLC now owns 3,918,150 shares of the biotechnology company's stock worth $490,089,000 after buying an additional 71,286 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Biogen by 2.4% in the second quarter. Invesco Ltd. now owns 2,320,126 shares of the biotechnology company's stock worth $291,385,000 after acquiring an additional 55,119 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Biogen in the second quarter valued at $284,358,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Price Performance

Shares of BIIB traded down $3.43 during mid-day trading on Friday, hitting $140.18. The company's stock had a trading volume of 176,356 shares, compared to its average volume of 1,550,933. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36. Biogen has a 1-year low of $110.04 and a 1-year high of $204.18. The firm has a market capitalization of $20.55 billion, a P/E ratio of 13.41, a P/E/G ratio of 1.11 and a beta of 0.11. The firm has a 50-day simple moving average of $133.24 and a 200 day simple moving average of $130.69.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.93 by $1.54. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The firm had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.32 billion. During the same quarter in the prior year, the business posted $5.28 earnings per share. Biogen's revenue was up 7.3% compared to the same quarter last year. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Analysts predict that Biogen will post 15.83 EPS for the current fiscal year.

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.