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

Shares of Biogen Inc. (NASDAQ:BIIB - Get Free Report) have earned a consensus rating of "Hold" from the thirty-two research firms that are presently covering the stock, MarketBeat.com reports. Twenty research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $191.30.

BIIB has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on Biogen from $185.00 to $175.00 and set a "neutral" rating on the stock in a research note on Monday, May 5th. Sanford C. Bernstein initiated coverage on Biogen in a research note on Tuesday, February 11th. They issued a "market perform" rating and a $160.00 price target on the stock. Scotiabank dropped their price target on Biogen from $244.00 to $224.00 and set a "sector outperform" rating on the stock in a research note on Thursday, February 13th. Citigroup decreased their price objective on Biogen from $160.00 to $145.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Finally, Mizuho decreased their price objective on Biogen from $207.00 to $169.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th.

Biogen Stock Performance

Shares of BIIB traded down $1.64 during trading hours on Wednesday, reaching $131.11. 3,640,026 shares of the company's stock traded hands, compared to its average volume of 1,411,593. The business's fifty day simple moving average is $123.43 and its two-hundred day simple moving average is $139.07. The firm has a market capitalization of $19.21 billion, a price-to-earnings ratio of 11.72, a P/E/G ratio of 1.51 and a beta of 0.12. Biogen has a twelve month low of $110.04 and a twelve month high of $238.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90.

Biogen (NASDAQ:BIIB - Get Free Report) last released 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 for the quarter, compared to analyst estimates of $2.25 billion. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Biogen's revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $3.67 earnings per share. Analysts predict that Biogen will post 15.83 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Stephen A. Sherwin sold 8,760 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the transaction, the director now directly owns 11,318 shares in the company, valued at $1,697,926.36. The trade was a 43.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Lee Danner & Bass Inc. acquired a new position in shares of Biogen during the fourth quarter worth approximately $25,000. Larson Financial Group LLC lifted 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 during the last quarter. Colonial Trust Co SC lifted its holdings in shares of Biogen by 9,300.0% during the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock worth $29,000 after buying an additional 186 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Biogen during the first quarter valued at approximately $26,000. Finally, Greykasell Wealth Strategies Inc. bought a new stake in shares of Biogen during the first quarter valued at approximately $27,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

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.