Biogen Inc. (NASDAQ:BIIB) Stock Has Consensus Target Price of $252.34 According to Analysts

Shares of Biogen Inc. (NASDAQ:BIIB) have received an average recommendation of “Moderate Buy” from the thirty-three brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, ten have given a hold recommendation, twenty-one have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $254.41.

Several research firms recently weighed in on BIIB. Wells Fargo & Company upped their price objective on shares of Biogen from $250.00 to $310.00 and gave the stock an “overweight” rating in a report on Tuesday, October 20th. Bank of America raised their target price on shares of Biogen from $219.00 to $244.00 and gave the company a “neutral” rating in a research note on Thursday, October 22nd. HC Wainwright boosted their price objective on Biogen from $251.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, November 2nd. Robert W. Baird increased their target price on shares of Biogen from $250.00 to $290.00 and gave the company an “outperform” rating in a research note on Thursday, October 29th. Finally, Stifel Nicolaus set a $242.00 price target on Biogen in a research note on Thursday, September 10th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Private Advisor Group LLC raised its stake in shares of Biogen by 75.9% in the third quarter. Private Advisor Group LLC now owns 4,415 shares of the biotechnology company’s stock valued at $997,000 after purchasing an additional 1,905 shares in the last quarter. Focus Advisor Solutions LLC boosted its stake in Biogen by 37.7% in the third quarter. Focus Advisor Solutions LLC now owns 10,585 shares of the biotechnology company’s stock valued at $2,391,000 after acquiring an additional 2,896 shares during the last quarter. Independent Advisor Alliance grew its position in shares of Biogen by 10.1% during the 3rd quarter. Independent Advisor Alliance now owns 1,388 shares of the biotechnology company’s stock worth $341,000 after buying an additional 127 shares during the period. Meeder Asset Management Inc. grew its holdings in shares of Biogen by 4,819.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,771 shares of the biotechnology company’s stock valued at $400,000 after buying an additional 1,735 shares during the period. Finally, Composition Wealth LLC lifted its holdings in shares of Biogen by 1,465.8% during the 3rd quarter. Composition Wealth LLC now owns 22,250 shares of the biotechnology company’s stock valued at $5,026,000 after purchasing an additional 20,829 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Price Performance

BIIB opened at $253.25 on Wednesday. The company has a 50-day moving average of $231.47 and a 200-day moving average of $203.85. Biogen has a 1-year low of $154.20 and a 1-year high of $261.00. The company has a market capitalization of $37.44 billion, a P/E ratio of 108.23, a PEG ratio of 2.89 and a beta of 0.10. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.37 and a current ratio of 1.95.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, October 28th. The biotechnology company reported $2.62 EPS for the quarter, beating the consensus estimate of $1.99 by $0.63. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.63 billion. Biogen had a net margin of 3.37% and a return on equity of 9.38%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the business posted $4.81 EPS. Equities analysts expect that Biogen will post 12.45 EPS for the current fiscal year.

Biogen Company Profile

Biogen is a biotechnology company focused on developing and commercializing medicines for neurological and rare diseases. Its areas of focus include multiple sclerosis, Alzheimer’s disease, spinal muscular atrophy and Friedreich’s ataxia. Its products include multiple sclerosis treatments such as Tysabri, Tecfidera and Vumerity, and Skyclarys for Friedreich’s ataxia. Biogen shares rights to several medicines with other companies, including Leqembi for Alzheimer’s disease with Eisai and Spinraza for spinal muscular atrophy with Ionis Pharmaceuticals.