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

Biogen Inc. (NASDAQ:BIIB) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-eight analysts that are presently covering the stock, MarketBeat Ratings reports. Twelve research analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $258.96.

Several equities analysts recently issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. UBS Group reduced their price target on Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd. Morgan Stanley downgraded Biogen from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $285.00 to $204.00 in a research report on Thursday, October 31st. Barclays decreased their price target on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Finally, Truist Financial restated a “buy” rating and issued a $302.00 price target (down from $340.00) on shares of Biogen in a report on Monday, August 5th.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the sale, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. This represents a 7.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is currently owned by company insiders.

Institutional Trading of Biogen

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. KCM Investment Advisors LLC lifted its stake in Biogen by 1.7% in the first quarter. KCM Investment Advisors LLC now owns 2,953 shares of the biotechnology company’s stock worth $637,000 after acquiring an additional 48 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Biogen by 39.8% during the second quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 49 shares in the last quarter. QRG Capital Management Inc. raised its stake in Biogen by 2.0% in the first quarter. QRG Capital Management Inc. now owns 2,634 shares of the biotechnology company’s stock valued at $568,000 after buying an additional 51 shares in the last quarter. Plato Investment Management Ltd lifted its holdings in Biogen by 82.8% during the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after buying an additional 53 shares during the last quarter. Finally, Jacobi Capital Management LLC boosted its position in shares of Biogen by 3.4% during the 1st quarter. Jacobi Capital Management LLC now owns 1,664 shares of the biotechnology company’s stock worth $359,000 after acquiring an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

Biogen stock opened at $159.99 on Friday. The stock has a market cap of $23.31 billion, a price-to-earnings ratio of 14.45, a price-to-earnings-growth ratio of 1.57 and a beta of -0.06. The firm has a 50-day moving average of $186.80 and a two-hundred day moving average of $207.77. Biogen has a 1 year low of $159.60 and a 1 year high of $268.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.36 earnings per share. On average, research analysts forecast that Biogen will post 16.4 earnings per share for the current year.

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.