Biogen Inc. (NASDAQ:BIIB) Receives $295.58 Average PT from Analysts

Biogen Inc. (NASDAQ:BIIB) has been given an average recommendation of “Moderate Buy” by the twenty-seven brokerages that are currently covering the firm, MarketBeat reports. Nine research analysts have rated the stock with a hold recommendation and eighteen have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $293.88.

A number of analysts recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and issued a $364.00 price target on shares of Biogen in a research note on Tuesday, March 5th. Oppenheimer reaffirmed an “outperform” rating and set a $270.00 price target on shares of Biogen in a research note on Monday. StockNews.com cut shares of Biogen from a “buy” rating to a “hold” rating in a research note on Tuesday, February 20th. Cantor Fitzgerald restated an “overweight” rating and set a $311.00 target price on shares of Biogen in a research report on Tuesday, February 20th. Finally, BMO Capital Markets reduced their price target on shares of Biogen from $295.00 to $285.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th.

Biogen Stock Up 3.2 %

Shares of Biogen stock opened at $215.50 on Tuesday. Biogen has a one year low of $189.44 and a one year high of $319.76. The company has a market cap of $31.38 billion, a P/E ratio of 26.90, a PEG ratio of 2.13 and a beta of -0.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10. The firm has a fifty day moving average of $212.48 and a two-hundred day moving average of $233.02.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.45 by $0.22. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the prior year, the company posted $3.40 earnings per share. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. On average, analysts forecast that Biogen will post 15.57 earnings per share for the current year.

Insider Activity at Biogen

In other Biogen news, insider Priya Singhal sold 262 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the sale, the insider now owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Priya Singhal sold 262 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the sale, the insider now directly owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eric K. Rowinsky bought 455 shares of the stock in a transaction dated Thursday, February 15th. The stock was bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the purchase, the director now owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. Over the last three months, insiders sold 882 shares of company stock worth $202,030. 0.60% of the stock is owned by company insiders.

Institutional Trading of Biogen

Hedge funds and other institutional investors have recently modified their holdings of the business. Stratos Wealth Partners LTD. grew its holdings in Biogen by 1.1% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 4,032 shares of the biotechnology company’s stock worth $1,036,000 after acquiring an additional 42 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Biogen by 2.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,043 shares of the biotechnology company’s stock valued at $525,000 after acquiring an additional 45 shares in the last quarter. PAX Financial Group LLC lifted its stake in Biogen by 2.9% during the third quarter. PAX Financial Group LLC now owns 1,577 shares of the biotechnology company’s stock worth $405,000 after purchasing an additional 45 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its holdings in Biogen by 2.4% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,955 shares of the biotechnology company’s stock worth $502,000 after purchasing an additional 45 shares during the period. Finally, Ballentine Partners LLC boosted its holdings in Biogen by 3.2% in the third quarter. Ballentine Partners LLC now owns 1,528 shares of the biotechnology company’s stock worth $393,000 after purchasing an additional 48 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

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.