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

Shares of Biogen Inc (NASDAQ:BIIB) have received a consensus rating of “Hold” from the thirty-six analysts that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $278.55.

Several equities research analysts have recently commented on the company. BidaskClub downgraded Biogen from a “buy” rating to a “hold” rating in a report on Wednesday. Argus reissued a “hold” rating on shares of Biogen in a report on Tuesday, May 7th. Citigroup reissued a “neutral” rating on shares of Biogen in a report on Thursday, May 23rd. Cantor Fitzgerald reissued a “hold” rating and issued a $250.00 price objective on shares of Biogen in a report on Wednesday, March 27th. Finally, Credit Suisse Group started coverage on Biogen in a research note on Monday, May 20th. They issued an “underperform” rating and a $198.00 price target on the stock.

Shares of NASDAQ BIIB traded down $2.94 during trading hours on Friday, hitting $228.32. The company had a trading volume of 594,869 shares, compared to its average volume of 1,493,646. The company has a market cap of $44.37 billion, a PE ratio of 8.71, a PEG ratio of 0.93 and a beta of 0.95. The company has a current ratio of 2.84, a quick ratio of 2.60 and a debt-to-equity ratio of 0.43. Biogen has a 1-year low of $216.12 and a 1-year high of $388.67.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $6.98 EPS for the quarter, beating the consensus estimate of $6.88 by $0.10. The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.38 billion. Biogen had a return on equity of 41.39% and a net margin of 33.79%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.05 EPS. As a group, sell-side analysts predict that Biogen will post 29.57 EPS for the current fiscal year.

In other news, CEO Michel Vounatsos acquired 4,351 shares of the stock in a transaction on Wednesday, May 1st. The shares were purchased at an average price of $231.48 per share, for a total transaction of $1,007,169.48. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Alexander J. Denner acquired 118,342 shares of the stock in a transaction on Thursday, May 2nd. The shares were purchased at an average price of $229.94 per share, for a total transaction of $27,211,559.48. Following the transaction, the director now directly owns 10,909 shares in the company, valued at $2,508,415.46. The disclosure for this purchase can be found here. Insiders have acquired a total of 173,035 shares of company stock worth $39,759,632 in the last quarter. Company insiders own 0.29% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwest Wealth Management LLC grew its holdings in shares of Biogen by 188.9% during the 1st quarter. Northwest Wealth Management LLC now owns 104 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 68 shares in the last quarter. Portfolio Solutions LLC acquired a new stake in Biogen in the fourth quarter valued at about $26,000. Kore Private Wealth LLC acquired a new stake in Biogen in the first quarter valued at about $26,000. Resources Investment Advisors Inc. boosted its stake in Biogen by 500.0% in the first quarter. Resources Investment Advisors Inc. now owns 120 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 100 shares in the last quarter. Finally, Private Ocean LLC acquired a new stake in Biogen in the first quarter valued at about $31,000. 87.64% of the stock is currently owned by institutional investors.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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