Biogen Inc. (NASDAQ:BIIB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Biogen Inc. (NASDAQ:BIIB) has been given a consensus recommendation of “Moderate Buy” by the twenty-six research firms that are currently covering the company, MarketBeat Ratings reports. Ten research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $261.58.

BIIB has been the topic of a number of recent research reports. Robert W. Baird lowered their price objective on Biogen from $316.00 to $294.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. BMO Capital Markets dropped their price target on shares of Biogen from $260.00 to $230.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Oppenheimer decreased their price target on Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Morgan Stanley lowered shares of Biogen from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $285.00 to $204.00 in a research note on Thursday, October 31st. Finally, Raymond James restated a “market perform” rating on shares of Biogen in a report on Thursday, October 10th.

Biogen Price Performance

Biogen stock opened at $173.04 on Friday. The company has a fifty day simple moving average of $189.71 and a 200-day simple moving average of $208.71. The firm has a market capitalization of $25.22 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 1.64 and a beta of -0.06. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. Biogen has a 52-week low of $170.71 and a 52-week high of $268.30.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the prior year, the company earned $4.36 EPS. Biogen’s revenue was down 2.5% compared to the same quarter last year. On average, equities analysts anticipate that Biogen will post 16.4 EPS for the current fiscal year.

Insider Activity

In related news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the transaction, the insider now owns 5,316 shares in the company, valued at approximately $1,085,633.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Biogen

Several institutional investors have recently added to or reduced their stakes in BIIB. Vanguard Group Inc. raised its holdings in Biogen by 15.0% during the first quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock worth $3,573,075,000 after purchasing an additional 2,163,068 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Biogen by 19,722.9% in the 3rd quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock valued at $695,870,000 after buying an additional 357,181 shares during the last quarter. Mizuho Securities USA LLC raised its stake in Biogen by 2,715.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock worth $61,253,000 after acquiring an additional 304,778 shares in the last quarter. RA Capital Management L.P. lifted its position in Biogen by 39.0% in the first quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock valued at $159,723,000 after acquiring an additional 207,835 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Biogen by 27.2% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 570,533 shares of the biotechnology company’s stock valued at $123,024,000 after acquiring an additional 122,101 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

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.