Biogen Inc. (NASDAQ:BIIB) Receives Consensus Rating of “Hold” from Brokerages

Shares of Biogen Inc. (NASDAQ:BIIB) have been given an average rating of “Hold” by the thirty ratings firms that are covering the stock, Marketbeat Ratings reports. Seventeen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $213.33.

A number of research firms have recently commented on BIIB. Jefferies Financial Group cut Biogen from a “buy” rating to a “hold” rating and cut their price objective for the company from $250.00 to $180.00 in a research report on Monday, December 9th. Mizuho decreased their price objective on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a report on Thursday, November 21st. Bank Of America (Bofa) cut their target price on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Stifel Nicolaus lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target on the stock. in a research note on Monday, December 16th. Finally, HC Wainwright lowered their price objective on Biogen from $300.00 to $241.00 and set a “buy” rating on the stock in a report on Thursday, February 13th.

Insider Activity at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the transaction, the director now directly owns 11,318 shares in the company, valued at $1,697,926.36. This trade represents a 43.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. lifted its holdings in Biogen by 13,574.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock worth $407,919,000 after buying an additional 2,648,024 shares in the last quarter. Norges Bank purchased a new stake in shares of Biogen during the fourth quarter worth $355,569,000. Van ECK Associates Corp raised its stake in shares of Biogen by 977.9% in the fourth quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company’s stock valued at $163,083,000 after acquiring an additional 967,523 shares in the last quarter. Invesco Ltd. grew its stake in Biogen by 30.6% during the 4th quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company’s stock worth $325,537,000 after purchasing an additional 499,074 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in Biogen by 982.0% during the 4th quarter. AQR Capital Management LLC now owns 539,692 shares of the biotechnology company’s stock worth $81,914,000 after purchasing an additional 489,811 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

NASDAQ:BIIB opened at $141.38 on Friday. The company has a 50 day moving average price of $142.32 and a 200-day moving average price of $162.85. Biogen has a 1-year low of $128.51 and a 1-year high of $238.00. The firm has a market cap of $20.69 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Equities research analysts forecast that Biogen will post 15.83 EPS 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.