Biogen Inc. (NASDAQ:BIIB) Receives Average Rating of "Hold" from Analysts

Biogen Inc. (NASDAQ:BIIB - Get Free Report) has been given an average recommendation of "Hold" by the thirty-two ratings firms that are covering the stock, 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 1 year target price among brokerages that have covered the stock in the last year is $195.85.

Several analysts have recently commented on the company. Scotiabank decreased their target price on Biogen from $244.00 to $224.00 and set a "sector outperform" rating on the stock in a report on Thursday, February 13th. William Blair reissued an "outperform" rating on shares of Biogen in a report on Monday, January 13th. The Goldman Sachs Group dropped their target price on shares of Biogen from $219.00 to $197.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company decreased their price target on shares of Biogen from $165.00 to $140.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 13th. Finally, Truist Financial dropped their price objective on shares of Biogen from $210.00 to $199.00 and set a "buy" rating for the company in a research report on Tuesday.

Biogen Trading Up 2.2 %

Shares of Biogen stock opened at $123.53 on Friday. The stock has a market capitalization of $18.08 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 1.51 and a beta of 0.13. Biogen has a 12-month low of $110.04 and a 12-month high of $238.00. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The company has a 50-day simple moving average of $130.58 and a 200 day simple moving average of $147.04.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.26 by ($0.24). The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.25 billion. Biogen had a net margin of 16.87% and a return on equity of 14.98%. The business's revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $3.67 EPS. Research analysts expect that Biogen will post 15.83 earnings per share for the current fiscal year.

Insider Transactions at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the sale, the director now directly owns 11,318 shares in the company, valued at $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Biogen

A number of large investors have recently added to or reduced their stakes in BIIB. Larson Financial Group LLC grew its holdings in shares of Biogen by 640.9% during the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock worth $25,000 after buying an additional 141 shares in the last quarter. Lee Danner & Bass Inc. bought a new position in shares of Biogen during the 4th quarter worth approximately $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Biogen in the first quarter valued at approximately $26,000. Colonial Trust Co SC lifted its position in shares of Biogen by 9,300.0% in the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock worth $29,000 after purchasing an additional 186 shares in the last quarter. Finally, Private Trust Co. NA boosted its holdings in Biogen by 74.8% during the first quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company's stock worth $31,000 after purchasing an additional 98 shares during the last quarter. Institutional investors own 87.93% of the company's stock.

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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