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

Biogen Inc. (NASDAQ:BIIB) has been assigned a consensus recommendation of “Hold” from the thirty brokerages that are presently covering the firm, Marketbeat Ratings reports. Seventeen research 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 covered the stock in the last year is $213.33.

A number of equities analysts have recently weighed in on BIIB shares. Piper Sandler reaffirmed a “neutral” rating and issued a $135.00 price target (down from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. Bank of America reissued a “neutral” rating and set a $178.00 target price on shares of Biogen in a research report on Tuesday, December 10th. Sanford C. Bernstein assumed coverage on shares of Biogen in a research report on Tuesday, February 11th. They set a “market perform” rating and a $160.00 target price on the stock. Canaccord Genuity Group lowered their price target on Biogen from $298.00 to $265.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, HC Wainwright cut their price objective on Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a research report on Thursday, February 13th.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $143.09 on Friday. Biogen has a one year low of $128.51 and a one year high of $238.00. The stock has a fifty day moving average of $142.70 and a 200-day moving average of $163.15. The company has a market capitalization of $20.94 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35.

Biogen (NASDAQ:BIIB) last released its 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 return on equity of 14.98% and a net margin of 16.87%. As a group, equities analysts anticipate that Biogen will post 15.83 EPS for the current fiscal year.

Insider Transactions at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the sale, the director now owns 11,318 shares of the company’s stock, valued at $1,697,926.36. This represents a 43.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Biogen by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 16,748,875 shares of the biotechnology company’s stock valued at $2,561,238,000 after acquiring an additional 70,368 shares during the period. State Street Corp raised its holdings in Biogen by 3.5% during the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after buying an additional 248,942 shares during the period. Geode Capital Management LLC grew its stake in shares of Biogen by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,695,476 shares of the biotechnology company’s stock worth $563,709,000 after acquiring an additional 82,456 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Biogen by 13,574.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock worth $407,919,000 after acquiring an additional 2,648,024 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Biogen during the 4th quarter worth approximately $355,569,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

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.