Biogen Inc. (NASDAQ:BIIB) Given Average Recommendation of “Hold” by Brokerages

Shares of Biogen Inc. (NASDAQ:BIIB) have earned an average rating of “Hold” from the twenty-seven research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, sixteen have assigned a hold recommendation and ten have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $177.4615.

BIIB has been the topic of a number of analyst reports. Royal Bank Of Canada cut their price target on Biogen from $217.00 to $210.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. BMO Capital Markets increased their price objective on Biogen from $128.00 to $150.00 in a report on Friday, October 31st. Weiss Ratings reissued a “sell (d+)” rating on shares of Biogen in a research report on Thursday, November 13th. William Blair reaffirmed an “outperform” rating on shares of Biogen in a report on Wednesday, September 24th. Finally, Citigroup reiterated a “neutral” rating on shares of Biogen in a research note on Wednesday, September 24th.

Biogen Stock Up 2.5%

Shares of Biogen stock opened at $168.83 on Wednesday. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36. Biogen has a 52-week low of $110.04 and a 52-week high of $170.78. The company has a market capitalization of $24.77 billion, a P/E ratio of 16.14, a P/E/G ratio of 1.17 and a beta of 0.10. The company has a 50 day moving average of $149.34 and a 200 day moving average of $137.12.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.92. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.34 billion. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The company’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the business earned $4.08 EPS. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. As a group, research analysts forecast that Biogen will post 15.83 EPS for the current fiscal year.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 517 shares of Biogen stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total transaction of $69,045.35. Following the sale, the insider directly owned 5,772 shares in the company, valued at $770,850.60. This trade represents a 8.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by company insiders.

Institutional Trading of Biogen

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Biogen by 1.5% in the second quarter. Vanguard Group Inc. now owns 17,290,651 shares of the biotechnology company’s stock valued at $2,171,533,000 after buying an additional 257,812 shares during the last quarter. State Street Corp increased its holdings in shares of Biogen by 1.0% in the 2nd quarter. State Street Corp now owns 7,468,807 shares of the biotechnology company’s stock valued at $938,007,000 after acquiring an additional 71,897 shares during the period. Geode Capital Management LLC increased its holdings in shares of Biogen by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 3,918,150 shares of the biotechnology company’s stock valued at $490,089,000 after acquiring an additional 71,286 shares during the period. Invesco Ltd. raised its position in Biogen by 4.2% in the 3rd quarter. Invesco Ltd. now owns 2,418,127 shares of the biotechnology company’s stock valued at $338,731,000 after purchasing an additional 98,001 shares during the last quarter. Finally, Norges Bank acquired a new stake in Biogen during the 2nd quarter worth $284,358,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

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.