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

Shares of Biogen Inc. (NASDAQ:BIIB) have received a consensus rating of “Moderate Buy” from the twenty-five brokerages that are currently covering the firm, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $275.30.

A number of equities research analysts have weighed in on the company. Mizuho lowered their price objective on Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a research note on Tuesday, August 6th. Barclays decreased their price target on shares of Biogen from $200.00 to $190.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Scotiabank cut their price target on shares of Biogen from $275.00 to $244.00 and set a “sector outperform” rating on the stock in a report on Friday, August 2nd. Wells Fargo & Company decreased their price objective on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $292.00 target price on shares of Biogen in a research note on Thursday, September 19th.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Biogen

A number of hedge funds and other institutional investors have recently modified their holdings of BIIB. Vanguard Group Inc. increased its stake in Biogen by 15.0% during the 1st quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock valued at $3,573,075,000 after buying an additional 2,163,068 shares during the period. Primecap Management Co. CA boosted its holdings in shares of Biogen by 0.7% in the second quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock valued at $3,787,543,000 after acquiring an additional 117,578 shares in the last quarter. Van ECK Associates Corp raised its holdings in Biogen by 22.2% during the first quarter. Van ECK Associates Corp now owns 1,737,340 shares of the biotechnology company’s stock worth $374,623,000 after purchasing an additional 316,144 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Biogen by 5.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,589,629 shares of the biotechnology company’s stock worth $342,772,000 after purchasing an additional 81,283 shares during the period. Finally, First Trust Advisors LP boosted its stake in Biogen by 141.0% during the 4th quarter. First Trust Advisors LP now owns 977,308 shares of the biotechnology company’s stock valued at $252,898,000 after purchasing an additional 571,795 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Trading Up 2.4 %

BIIB opened at $193.60 on Friday. The firm has a market capitalization of $28.19 billion, a P/E ratio of 23.96, a P/E/G ratio of 1.97 and a beta of -0.06. The firm’s 50 day moving average is $205.39 and its 200-day moving average is $214.43. Biogen has a 52-week low of $188.78 and a 52-week high of $269.43. The company has a quick ratio of 1.48, a current ratio of 2.29 and a debt-to-equity ratio of 0.40.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.00 by $1.28. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.02 EPS. Analysts expect that Biogen will post 16.12 EPS for the current fiscal 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.