Analysts Set Biogen Inc. (NASDAQ:BIIB) PT at $213.33

Shares of Biogen Inc. (NASDAQ:BIIB - Get Free Report) have been assigned an average rating of "Hold" from the thirty-one research firms that are covering the stock, MarketBeat reports. Eighteen 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 issued ratings on the stock in the last year is $213.15.

Several equities analysts recently issued reports on the company. Wells Fargo & Company reduced their price target on Biogen from $165.00 to $140.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 13th. Sanford C. Bernstein initiated coverage on shares of Biogen in a report on Tuesday, February 11th. They issued a "market perform" rating and a $160.00 target price on the stock. Truist Financial lowered their price target on shares of Biogen from $220.00 to $210.00 and set a "buy" rating for the company in a report on Thursday, February 13th. William Blair reissued an "outperform" rating on shares of Biogen in a research report on Monday, January 13th. Finally, Royal Bank of Canada decreased 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.

Insiders Place Their Bets

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

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Hedge Funds Weigh In On Biogen

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Biogen by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 16,748,875 shares of the biotechnology company's stock valued at $2,561,238,000 after purchasing an additional 70,368 shares during the last quarter. Geode Capital Management LLC raised its stake in Biogen by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,695,476 shares of the biotechnology company's stock valued at $563,709,000 after buying an additional 82,456 shares during the last quarter. Pacer Advisors Inc. raised its stake in Biogen by 13,574.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company's stock valued at $407,919,000 after buying an additional 2,648,024 shares during the last quarter. Norges Bank bought a new position in shares of Biogen during the 4th quarter valued at $355,569,000. Finally, Invesco Ltd. boosted its stake in shares of Biogen by 30.6% in the 4th quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company's stock worth $325,537,000 after buying an additional 499,074 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company's stock.

Biogen Trading Up 1.6 %

Shares of BIIB stock traded up $1.79 on Tuesday, hitting $115.17. 1,618,683 shares of the company's stock traded hands, compared to its average volume of 1,352,977. The stock has a market capitalization of $16.86 billion, a price-to-earnings ratio of 10.29, a P/E/G ratio of 1.51 and a beta of 0.06. The company's fifty day simple moving average is $136.74 and its 200 day simple moving average is $154.02. Biogen has a one year low of $110.04 and a one year high of $238.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35.

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 forecast that Biogen will post 15.83 EPS for the current 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.