Biogen Inc. (NASDAQ:BIIB) Receives $273.78 Consensus Price Target from Brokerages

Biogen Inc. (NASDAQ:BIIB) has been given a consensus rating of “Moderate Buy” by the twenty-five analysts that are covering the firm, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $271.39.

A number of equities research analysts have weighed in on the stock. Piper Sandler decreased their target price on shares of Biogen from $335.00 to $313.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. UBS Group reduced their price objective on Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd. Scotiabank dropped their target price on Biogen from $275.00 to $244.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 2nd. Raymond James restated a “market perform” rating on shares of Biogen in a research note on Thursday, October 10th. Finally, William Blair reiterated an “outperform” rating on shares of Biogen in a research note on Wednesday, July 3rd.

Insider Transactions at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total value of $88,018.82. Following the sale, the insider now directly owns 5,316 shares in the company, valued at approximately $1,085,633.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Biogen

Several institutional investors have recently added to or reduced their stakes in the company. KCM Investment Advisors LLC grew its holdings in shares of Biogen by 1.7% in the first quarter. KCM Investment Advisors LLC now owns 2,953 shares of the biotechnology company’s stock valued at $637,000 after purchasing an additional 48 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of Biogen by 39.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 49 shares in the last quarter. TFB Advisors LLC lifted its holdings in shares of Biogen by 2.1% in the 1st quarter. TFB Advisors LLC now owns 2,450 shares of the biotechnology company’s stock valued at $530,000 after acquiring an additional 50 shares during the last quarter. QRG Capital Management Inc. grew its position in Biogen by 2.0% in the first quarter. QRG Capital Management Inc. now owns 2,634 shares of the biotechnology company’s stock worth $568,000 after acquiring an additional 51 shares in the last quarter. Finally, Plato Investment Management Ltd increased its stake in Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Stock Down 2.9 %

BIIB stock opened at $184.65 on Tuesday. The stock has a market capitalization of $26.88 billion, a P/E ratio of 23.05, a P/E/G ratio of 1.87 and a beta of -0.06. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.48. Biogen has a 1-year low of $181.31 and a 1-year high of $268.30. The business has a fifty day moving average price of $196.76 and a 200-day moving average price of $210.79.

Biogen (NASDAQ:BIIB) last posted its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.00 by $1.28. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter in the prior year, the business earned $4.02 EPS. The business’s revenue for the quarter was up .4% compared to the same quarter last year. Equities analysts forecast that Biogen will post 16.13 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.