Analysts Set Biogen Inc. (NASDAQ:BIIB) Target Price at $305.68

Shares of Biogen Inc. (NASDAQ:BIIB - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the twenty-seven analysts that are covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $305.68.

A number of analysts recently weighed in on the company. Mizuho decreased their price target on Biogen from $355.00 to $277.00 and set a "buy" rating on the stock in a research note on Thursday, February 22nd. William Blair reiterated an "outperform" rating on shares of Biogen in a research report on Wednesday, January 10th. BMO Capital Markets decreased their target price on Biogen from $295.00 to $285.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 14th. Bank Of America (Bofa) decreased their target price on Biogen from $290.00 to $280.00 and set a "neutral" rating on the stock in a research report on Monday, February 12th. Finally, Wells Fargo & Company downgraded Biogen from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $315.00 to $240.00 in a research report on Wednesday, February 14th.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 419 shares of the business's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $239.45, for a total transaction of $100,329.55. Following the completion of the transaction, the insider now owns 4,516 shares in the company, valued at approximately $1,081,356.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Priya Singhal sold 419 shares of the business's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $239.45, for a total transaction of $100,329.55. Following the completion of the transaction, the insider now owns 4,516 shares in the company, valued at approximately $1,081,356.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric K. Rowinsky acquired 455 shares of Biogen stock in a transaction that occurred on Thursday, February 15th. The shares were bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the transaction, the director now directly owns 20,629 shares in the company, valued at $4,590,777.66. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 789 shares of company stock valued at $182,213. Insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Boone Capital Management LLC boosted its position in Biogen by 52.9% during the 3rd quarter. Boone Capital Management LLC now owns 96,115 shares of the biotechnology company's stock worth $24,703,000 after acquiring an additional 33,238 shares during the period. iA Global Asset Management Inc. raised its stake in shares of Biogen by 35.2% in the 3rd quarter. iA Global Asset Management Inc. now owns 12,071 shares of the biotechnology company's stock worth $3,102,000 after buying an additional 3,145 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of Biogen by 13.8% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 68,391 shares of the biotechnology company's stock worth $17,577,000 after buying an additional 8,291 shares in the last quarter. Dynamic Advisor Solutions LLC raised its stake in shares of Biogen by 6.2% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 4,850 shares of the biotechnology company's stock worth $1,251,000 after buying an additional 285 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Biogen by 2.8% in the 3rd quarter. Northern Trust Corp now owns 1,643,035 shares of the biotechnology company's stock worth $422,276,000 after buying an additional 45,437 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company's stock.

Biogen Stock Performance

BIIB traded down $0.71 during trading on Friday, hitting $215.63. 1,912,276 shares of the stock were exchanged, compared to its average volume of 1,323,656. The firm has a market capitalization of $31.34 billion, a P/E ratio of 27.02, a PEG ratio of 1.81 and a beta of -0.03. The company has a quick ratio of 1.26, a current ratio of 2.00 and a debt-to-equity ratio of 0.46. The stock has a fifty day moving average price of $229.09 and a two-hundred day moving average price of $241.89. Biogen has a 1-year low of $211.01 and a 1-year high of $319.76.

Biogen (NASDAQ:BIIB - Get Free Report) last released its earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.18 by ($0.23). Biogen had a net margin of 11.81% and a return on equity of 14.91%. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same period in the previous year, the firm posted $4.05 EPS. As a group, sell-side analysts predict that Biogen will post 15.48 earnings per share 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.