Biogen Inc. (NASDAQ:BIIB) Given Consensus Recommendation of "Hold" by Analysts

Biogen Inc. (NASDAQ:BIIB - Get Free Report) has been given a consensus recommendation of "Hold" by the thirty brokerages that are covering the firm, Marketbeat Ratings reports. Seventeen equities research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $211.85.

A number of research analysts have recently issued reports on the company. Sanford C. Bernstein started coverage on Biogen in a research note on Tuesday, February 11th. They set a "market perform" rating and a $160.00 price objective on the stock. Royal Bank of Canada reduced their price objective on shares of Biogen from $231.00 to $225.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Mizuho decreased their target price on Biogen from $251.00 to $207.00 and set an "outperform" rating for the company in a research report on Thursday, November 21st. Morgan Stanley dropped their price target on Biogen from $192.00 to $157.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 13th. Finally, Robert W. Baird increased their price objective on Biogen from $294.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, November 15th.

Institutional Trading of Biogen

Hedge funds have recently made changes to their positions in the business. Inspire Trust Co. N.A. raised its position in Biogen by 58.5% during the third quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company's stock valued at $2,113,000 after purchasing an additional 4,025 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Biogen by 0.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company's stock worth $6,646,000 after acquiring an additional 111 shares during the last quarter. Centre Asset Management LLC boosted its stake in shares of Biogen by 7.7% during the 4th quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company's stock worth $7,880,000 after purchasing an additional 3,698 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Biogen by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company's stock worth $176,982,000 after purchasing an additional 12,319 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Biogen by 3.2% during the third quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company's stock valued at $32,687,000 after buying an additional 5,270 shares during the period. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Price Performance

Shares of NASDAQ BIIB traded up $0.40 during mid-day trading on Monday, reaching $137.08. 2,056,003 shares of the company were exchanged, compared to its average volume of 1,437,652. Biogen has a 52 week low of $128.51 and a 52 week high of $238.00. The company's 50 day moving average price is $145.71 and its 200 day moving average price is $171.46. The stock has a market capitalization of $20.07 billion, a PE ratio of 12.25, a PEG ratio of 1.47 and a beta of -0.08. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Sell-side analysts forecast that Biogen will post 15.84 earnings per share for the current fiscal year.

About Biogen

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.