Biogen Inc. (NASDAQ:BIIB) Receives Average Rating of “Moderate Buy” from Analysts

Biogen Inc. (NASDAQ:BIIB) has been given an average rating of “Moderate Buy” by the twenty-five analysts that are covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $275.30.

Several analysts have commented on BIIB shares. Wells Fargo & Company decreased their price objective on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Scotiabank decreased their target price on shares of Biogen from $275.00 to $244.00 and set a “sector outperform” rating for the company in a research report on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $292.00 price objective on shares of Biogen in a research note on Monday, September 9th. StockNews.com raised Biogen from a “buy” rating to a “strong-buy” rating in a report on Monday, September 2nd. Finally, William Blair reaffirmed an “outperform” rating on shares of Biogen in a report on Wednesday, July 3rd.

Insider Transactions at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the sale, the insider now owns 5,316 shares in the company, valued at approximately $1,085,633.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.16% of the company’s stock.

Institutional Trading of Biogen

Several large investors have recently added to or reduced their stakes in the stock. Leo Wealth LLC acquired a new position in shares of Biogen in the 4th quarter worth approximately $2,265,000. Duality Advisers LP purchased a new position in shares of Biogen during the first quarter worth $1,290,000. Tocqueville Asset Management L.P. grew its stake in shares of Biogen by 924.4% in the first quarter. Tocqueville Asset Management L.P. now owns 46,200 shares of the biotechnology company’s stock valued at $9,962,000 after buying an additional 41,690 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Biogen by 0.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 386,482 shares of the biotechnology company’s stock valued at $83,337,000 after buying an additional 3,380 shares during the period. Finally, Cetera Investment Advisers lifted its stake in Biogen by 235.1% during the 1st quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock worth $3,204,000 after acquiring an additional 10,425 shares in the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Price Performance

NASDAQ BIIB opened at $194.12 on Friday. The company has a market cap of $28.26 billion, a price-to-earnings ratio of 24.23, a PEG ratio of 2.01 and a beta of -0.06. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.48. The stock’s fifty day moving average price is $206.18 and its 200 day moving average price is $214.61. Biogen has a 1 year low of $189.44 and a 1 year high of $269.43.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.00 by $1.28. Biogen had a return on equity of 15.71% and a net margin of 11.98%. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same period last year, the business posted $4.02 earnings per share. The company’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, equities research analysts forecast that Biogen will post 16.12 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.