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

Biogen Inc. (NASDAQ:BIIB - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twenty-seven ratings firms that are currently covering the stock, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $295.58.

BIIB has been the subject of a number of analyst reports. Needham & Company LLC reduced their price objective on Biogen from $305.00 to $300.00 and set a "buy" rating for the company in a research report on Tuesday, February 13th. Barclays reduced their price objective on Biogen from $230.00 to $215.00 and set an "equal weight" rating for the company in a research report on Thursday, April 4th. Oppenheimer reduced their target price on Biogen from $290.00 to $270.00 and set an "outperform" rating for the company in a report on Friday. Truist Financial reissued a "buy" rating and issued a $340.00 target price on shares of Biogen in a report on Monday, March 25th. Finally, Bank of America reduced their target price on Biogen from $280.00 to $260.00 and set a "neutral" rating for the company in a report on Friday, April 12th.

Insider Buying and Selling at Biogen

In other Biogen news, insider Priya Singhal sold 262 shares of Biogen stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the transaction, the insider now directly owns 4,886 shares in the company, valued at approximately $1,080,929.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Biogen news, Director Eric K. Rowinsky bought 455 shares of the company's stock in a transaction that occurred on Thursday, February 15th. The stock was purchased at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the purchase, the director now owns 20,629 shares of the company's stock, valued at approximately $4,590,777.66. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Priya Singhal sold 262 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the transaction, the insider now directly owns 4,886 shares of the company's stock, valued at approximately $1,080,929.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 882 shares of company stock worth $202,030. 0.60% of the stock is currently owned by insiders.

Institutional Trading of Biogen

A number of institutional investors and hedge funds have recently made changes to their positions in BIIB. Vanguard Group Inc. raised its position in shares of Biogen by 18.2% during the 4th quarter. Vanguard Group Inc. now owns 14,407,330 shares of the biotechnology company's stock worth $3,728,185,000 after purchasing an additional 2,218,744 shares during the period. Norges Bank acquired a new stake in shares of Biogen during the 4th quarter worth approximately $378,728,000. FIL Ltd raised its position in shares of Biogen by 936.4% during the 4th quarter. FIL Ltd now owns 656,502 shares of the biotechnology company's stock worth $169,883,000 after purchasing an additional 593,158 shares during the period. First Trust Advisors LP raised its position in shares of Biogen by 141.0% during the 4th quarter. First Trust Advisors LP now owns 977,308 shares of the biotechnology company's stock worth $252,898,000 after purchasing an additional 571,795 shares during the period. Finally, International Assets Investment Management LLC increased its position in Biogen by 24,726.3% in the 4th quarter. International Assets Investment Management LLC now owns 476,913 shares of the biotechnology company's stock valued at $123,411,000 after acquiring an additional 474,992 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Trading Down 0.5 %

BIIB stock traded down $0.93 during trading on Tuesday, hitting $193.18. 1,459,784 shares of the company traded hands, compared to its average volume of 1,165,281. The firm has a market capitalization of $28.08 billion, a PE ratio of 24.21, a P/E/G ratio of 1.85 and a beta of -0.02. Biogen has a 1 year low of $189.44 and a 1 year high of $319.76. The company has a 50-day moving average of $213.55 and a 200-day moving average of $234.62. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.26 and a current ratio of 2.00.

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