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

Shares of Biogen Inc. (NASDAQ:BIIB) have been given a consensus recommendation of “Hold” by the thirty-two ratings firms that are currently covering the stock, Marketbeat reports. Twenty equities research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $188.48.

A number of research analysts have weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a research note on Thursday, June 12th. Royal Bank Of Canada set a $213.00 price objective on shares of Biogen and gave the company an “outperform” rating in a report on Wednesday, June 25th. Oppenheimer set a $205.00 price objective on shares of Biogen in a report on Friday, May 2nd. HC Wainwright reiterated a “buy” rating and issued a $187.00 price objective on shares of Biogen in a report on Thursday, June 26th. Finally, Morgan Stanley lowered their price objective on shares of Biogen from $157.00 to $152.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th.

Insider Transactions at Biogen

In related news, insider Rachid Izzar sold 2,223 shares of the company’s stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total transaction of $300,105.00. Following the transaction, the insider directly owned 6,330 shares of the company’s stock, valued at $854,550. This represents a 25.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.18% of the stock is owned by corporate insiders.

Institutional Trading of Biogen

A number of hedge funds have recently modified their holdings of BIIB. Integrated Quantitative Investments LLC acquired a new position in Biogen in the 4th quarter worth about $407,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Biogen by 6.5% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 416,960 shares of the biotechnology company’s stock valued at $57,057,000 after acquiring an additional 25,464 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Biogen by 5.5% during the first quarter. Asset Management One Co. Ltd. now owns 61,420 shares of the biotechnology company’s stock valued at $8,405,000 after acquiring an additional 3,194 shares during the last quarter. APG Asset Management N.V. raised its holdings in shares of Biogen by 346.1% during the fourth quarter. APG Asset Management N.V. now owns 105,446 shares of the biotechnology company’s stock valued at $15,572,000 after acquiring an additional 81,811 shares during the last quarter. Finally, Prudential Financial Inc. raised its holdings in shares of Biogen by 36.1% during the fourth quarter. Prudential Financial Inc. now owns 576,276 shares of the biotechnology company’s stock valued at $88,124,000 after acquiring an additional 152,992 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

NASDAQ:BIIB opened at $128.46 on Thursday. The stock has a market cap of $18.82 billion, a P/E ratio of 12.68, a PEG ratio of 1.02 and a beta of 0.14. Biogen has a one year low of $110.04 and a one year high of $236.48. The company has a fifty day moving average price of $128.83 and a 200 day moving average price of $133.65. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.01.

Biogen (NASDAQ:BIIB) last announced its earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.26 by ($0.24). Biogen had a return on equity of 14.03% and a net margin of 15.07%. The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter last year, the business earned $3.67 EPS. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. Analysts anticipate that Biogen will post 15.83 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.