Biogen (NASDAQ:BIIB) Stock Price Up 3.5% - What's Next?

Biogen Inc. (NASDAQ:BIIB - Get Free Report)'s share price was up 3.5% on Tuesday . The stock traded as high as $146.42 and last traded at $146.67. Approximately 368,470 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 1,439,676 shares. The stock had previously closed at $141.71.

Wall Street Analyst Weigh In

BIIB has been the subject of several recent research reports. Morgan Stanley reduced their price target on Biogen from $192.00 to $157.00 and set an "equal weight" rating for the company in a research note on Thursday, February 13th. Mizuho decreased their target price on shares of Biogen from $251.00 to $207.00 and set an "outperform" rating on the stock in a research report on Thursday, November 21st. Jefferies Financial Group cut Biogen from a "buy" rating to a "hold" rating and cut their price target for the company from $250.00 to $180.00 in a research note on Monday, December 9th. HC Wainwright cut their target price on Biogen from $300.00 to $241.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Finally, Royal Bank of Canada cut their target price on Biogen from $231.00 to $225.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Biogen has a consensus rating of "Hold" and an average price target of $213.33.

Biogen Trading Up 0.4 %

The stock has a 50-day moving average price of $144.05 and a two-hundred day moving average price of $167.25. The stock has a market capitalization of $21.12 billion, a P/E ratio of 12.91, a price-to-earnings-growth ratio of 1.51 and a beta of -0.08. 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 announced its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating analysts' consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. On average, research analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. grew its holdings in Biogen by 13,574.7% in the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company's stock worth $407,919,000 after purchasing an additional 2,648,024 shares during the period. Norges Bank bought a new position in shares of Biogen during the fourth quarter valued at $355,569,000. Van ECK Associates Corp boosted its position in shares of Biogen by 977.9% during the fourth quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company's stock valued at $163,083,000 after buying an additional 967,523 shares during the last quarter. Invesco Ltd. increased its holdings in 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 in the last quarter. Finally, AQR Capital Management LLC raised its position in Biogen by 982.0% in the 4th quarter. AQR Capital Management LLC now owns 539,692 shares of the biotechnology company's stock worth $81,914,000 after buying an additional 489,811 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company's stock.

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.