Biogen Inc. (NASDAQ:BIIB) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Biogen Inc. (NASDAQ:BIIB) have received a consensus rating of “Hold” from the thirty brokerages that are presently covering the stock, Marketbeat reports. Seventeen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $213.33.

A number of brokerages have commented on BIIB. Jefferies Financial Group cut Biogen from a “buy” rating to a “hold” rating and lowered their price target for the stock from $250.00 to $180.00 in a research report on Monday, December 9th. Robert W. Baird upped their target price on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Mizuho reduced their price target on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. Canaccord Genuity Group dropped their price objective on shares of Biogen from $298.00 to $265.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, November 4th.

Biogen Price Performance

Shares of BIIB stock opened at $140.64 on Monday. Biogen has a fifty-two week low of $128.51 and a fifty-two week high of $238.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The firm has a market capitalization of $20.59 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.47 and a beta of -0.08. The stock’s 50-day simple moving average is $145.16 and its 200-day simple moving average is $170.41.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. As a group, equities analysts forecast that Biogen will post 15.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Biogen

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Inspire Trust Co. N.A. boosted its position in Biogen by 58.5% during the third quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock worth $2,113,000 after acquiring an additional 4,025 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Biogen by 0.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock worth $6,646,000 after purchasing an additional 111 shares during the last quarter. Centre Asset Management LLC grew its position in shares of Biogen by 7.7% in the fourth quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock valued at $7,880,000 after purchasing an additional 3,698 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Biogen by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after purchasing an additional 12,319 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Biogen by 3.2% during the third quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock worth $32,687,000 after buying an additional 5,270 shares in the last quarter. Institutional investors and hedge funds 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.