Biogen Inc. (NASDAQ:BIIB) Given Average Rating of “Hold” by Analysts

Shares of Biogen Inc. (NASDAQ:BIIB) have been given a consensus recommendation of “Hold” by the twenty-nine ratings firms that are currently covering the company, Marketbeat reports. Seventeen investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $235.68.

A number of equities research analysts have recently commented on the company. Wedbush lowered their target price on Biogen from $210.00 to $205.00 and set a “neutral” rating on the stock in a research note on Monday, September 23rd. Morgan Stanley lowered shares of Biogen from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $285.00 to $204.00 in a research report on Thursday, October 31st. Raymond James reissued a “market perform” rating on shares of Biogen in a research report on Thursday, October 10th. Jefferies Financial Group lowered shares of Biogen from a “buy” rating to a “hold” rating and decreased their price target for the stock from $250.00 to $180.00 in a research note on Monday, December 9th. Finally, StockNews.com downgraded Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th.

Institutional Trading of Biogen

Large investors have recently modified their holdings of the business. Primecap Management Co. CA raised its stake in 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 purchasing an additional 117,578 shares in the last quarter. State Street Corp increased its holdings in shares of Biogen by 3.5% in the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after buying an additional 248,942 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Biogen by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock worth $698,062,000 after buying an additional 47,055 shares during the last quarter. RA Capital Management L.P. raised its position in shares of Biogen by 20.6% during the 3rd quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock valued at $229,595,000 after buying an additional 202,317 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Biogen by 1.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,152,691 shares of the biotechnology company’s stock worth $223,438,000 after acquiring an additional 18,905 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

BIIB opened at $150.00 on Friday. The firm’s fifty day moving average price is $160.79 and its two-hundred day moving average price is $190.86. The company has a market capitalization of $21.86 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 1.74 and a beta of -0.08. 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 has a 1 year low of $145.07 and a 1 year high of $268.30.

Biogen (NASDAQ:BIIB) last announced its earnings results 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. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the business earned $4.36 EPS. The company’s revenue was down 2.5% compared to the same quarter last year. As a group, analysts anticipate that Biogen will post 16.43 earnings per share 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.