Biogen Inc. (NASDAQ:BIIB) Receives $213.33 Consensus Price Target from Brokerages

Biogen Inc. (NASDAQ:BIIB - Get Free Report) has earned a consensus rating of "Hold" from the thirty analysts that are presently covering the firm, Marketbeat.com reports. Seventeen investment analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $213.33.

Several equities analysts have recently weighed in on the company. Stifel Nicolaus cut Biogen from a "buy" rating to a "hold" rating and set a $175.00 price target for the company. in a research report on Monday, December 16th. Scotiabank cut their price objective on shares of Biogen from $244.00 to $224.00 and set a "sector outperform" rating for the company in a research report on Thursday, February 13th. William Blair reaffirmed an "outperform" rating on shares of Biogen in a report on Monday, January 13th. Bank Of America (Bofa) cut their price target on shares of Biogen from $178.00 to $163.00 and set a "neutral" rating for the company in a report on Tuesday, February 11th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $135.00 price target (down previously from $138.00) on shares of Biogen in a report on Tuesday, February 18th.

Biogen Stock Performance

BIIB traded up $4.10 during trading hours on Friday, hitting $143.54. The stock had a trading volume of 1,236,285 shares, compared to its average volume of 1,238,908. Biogen has a 1 year low of $128.51 and a 1 year high of $238.00. The company's fifty day simple moving average is $143.09 and its 200 day simple moving average is $164.02. The stock has a market cap of $21.01 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27.

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Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Equities analysts anticipate that Biogen will post 15.83 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Stephen A. Sherwin sold 8,760 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the sale, the director now directly owns 11,318 shares of the company's stock, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.16% of the stock is currently owned by insiders.

Institutional Trading of Biogen

Several institutional investors have recently bought and sold shares of the company. Lansforsakringar Fondforvaltning AB publ bought a new position in Biogen in the 4th quarter valued at approximately $7,380,000. PKO Investment Management Joint Stock Co purchased a new position in shares of Biogen in the fourth quarter worth $1,193,000. Wealthedge Investment Advisors LLC bought a new position in shares of Biogen during the fourth quarter valued at $265,000. Lighthouse Financial LLC bought a new stake in Biogen in the 4th quarter worth about $321,000. Finally, Siemens Fonds Invest GmbH raised its position in Biogen by 159.4% in the 4th quarter. Siemens Fonds Invest GmbH now owns 14,321 shares of the biotechnology company's stock worth $2,190,000 after buying an additional 8,801 shares during the last quarter. 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.