Biogen Inc. (NASDAQ:BIIB) Given Consensus Rating of “Hold” by Analysts

Biogen Inc. (NASDAQ:BIIB) has received an average rating of “Hold” from the twenty-nine brokerages that are presently covering the firm, Marketbeat reports. Seventeen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $235.68.

Several research analysts have recently issued reports on the company. BMO Capital Markets lowered Biogen from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $230.00 to $164.00 in a research report on Friday, December 20th. Oppenheimer decreased their price objective on Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Morgan Stanley cut shares of Biogen from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $285.00 to $204.00 in a report on Thursday, October 31st. Robert W. Baird increased their price target on shares of Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Finally, HC Wainwright reissued a “buy” rating and set a $300.00 price objective on shares of Biogen in a research note on Thursday, October 31st.

Biogen Stock Up 1.5 %

Shares of Biogen stock opened at $152.21 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen has a 12-month low of $145.07 and a 12-month high of $264.58. The company has a market cap of $22.18 billion, a P/E ratio of 13.75, a PEG ratio of 1.74 and a beta of -0.07. The company’s fifty day simple moving average is $160.20 and its two-hundred day simple moving average is $190.34.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the previous year, the company earned $4.36 earnings per share. Biogen’s quarterly revenue was down 2.5% on a year-over-year basis. Research analysts anticipate that Biogen will post 16.43 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. purchased a new stake in Biogen during the 2nd quarter valued at $33,000. Ashton Thomas Securities LLC bought a new stake in shares of Biogen in the third quarter worth $33,000. Venturi Wealth Management LLC increased its position in Biogen by 73.8% during the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 93 shares during the last quarter. UMB Bank n.a. lifted its holdings in Biogen by 139.8% in the second quarter. UMB Bank n.a. now owns 247 shares of the biotechnology company’s stock valued at $57,000 after acquiring an additional 144 shares during the period. Finally, Rothschild Investment LLC purchased a new position in Biogen in the second quarter worth about $60,000. Institutional investors own 87.93% of the company’s stock.

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.