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

Key Points

• Biogen Inc. has received an average brokerage rating of "Hold" from 31 firms, with 20 analysts giving hold ratings and 11 issuing buy ratings.
• The average 12-month target price for Biogen shares among analysts is $182.04, while recent reports have lowered target prices to around $142.00.
• Insider trading activities include significant sales by insiders, with Priya Singhal selling 517 shares and Rachid Izzar selling 2,223 shares, indicating a decrease in insider ownership.

Shares of Biogen Inc. (NASDAQ:BIIB - Get Free Report) have been given a consensus rating of "Hold" by the thirty-one brokerages that are currently covering the company, MarketBeat.com reports. Twenty research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $182.0385.

A number of equities analysts have recently issued reports on the company. Truist Financial assumed coverage on Biogen in a research note on Monday, July 21st. They issued a "hold" rating and a $142.00 price target on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Biogen in a research report on Wednesday, September 24th. Wall Street Zen upgraded Biogen from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Morgan Stanley lowered their target price on Biogen from $146.00 to $144.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Finally, Citigroup reiterated a "neutral" rating on shares of Biogen in a research report on Wednesday, September 24th.

Insider Buying and Selling at Biogen

In related news, insider Priya Singhal sold 517 shares of Biogen stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total transaction of $69,045.35. Following the transaction, the insider directly owned 5,772 shares in the company, valued at approximately $770,850.60. The trade was a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rachid Izzar sold 2,223 shares of Biogen stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total value of $300,105.00. Following 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 disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Biogen

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Biogen in the second quarter worth about $284,358,000. AQR Capital Management LLC increased its holdings in shares of Biogen by 153.6% in the first quarter. AQR Capital Management LLC now owns 1,368,842 shares of the biotechnology company's stock worth $187,258,000 after purchasing an additional 829,150 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Biogen by 1,663.4% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 780,567 shares of the biotechnology company's stock worth $106,813,000 after purchasing an additional 736,301 shares during the last quarter. Orion Porfolio Solutions LLC increased its holdings in shares of Biogen by 6,828.4% in the second quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company's stock worth $64,965,000 after purchasing an additional 509,809 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Biogen by 190.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 624,371 shares of the biotechnology company's stock worth $78,415,000 after purchasing an additional 409,591 shares during the last quarter. 87.93% of the stock is owned by institutional investors.

Biogen Stock Performance

Shares of BIIB opened at $138.52 on Tuesday. The business's fifty day simple moving average is $136.29 and its two-hundred day simple moving average is $130.47. 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 12 month low of $110.04 and a 12 month high of $195.00. The company has a market cap of $20.31 billion, a price-to-earnings ratio of 13.24, a P/E/G ratio of 1.08 and a beta of 0.11.

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

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