Biogen Inc. (NASDAQ:BIIB) Receives Average Rating of "Moderate Buy" from Analysts

Shares of Biogen Inc. (NASDAQ:BIIB - Get Free Report) have received an average recommendation of "Moderate Buy" from the twenty-five ratings firms that are currently covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $275.52.

Several research analysts recently weighed in on the stock. Cantor Fitzgerald restated an "overweight" rating and issued a $292.00 price objective on shares of Biogen in a research report on Monday, September 9th. Truist Financial restated a "buy" rating and issued a $302.00 price objective (down previously from $340.00) on shares of Biogen in a research report on Monday, August 5th. Needham & Company LLC restated a "buy" rating and issued a $285.00 price objective on shares of Biogen in a research report on Wednesday, September 4th. Royal Bank of Canada restated an "outperform" rating and issued a $292.00 price objective on shares of Biogen in a research report on Thursday. Finally, StockNews.com upgraded shares of Biogen from a "buy" rating to a "strong-buy" rating in a research report on Monday, September 2nd.

Biogen Price Performance

Shares of NASDAQ:BIIB traded down $2.08 during trading on Friday, reaching $199.36. The stock had a trading volume of 3,833,539 shares, compared to its average volume of 1,107,755. Biogen has a 52 week low of $189.44 and a 52 week high of $269.43. The business's 50-day moving average price is $207.31 and its 200 day moving average price is $215.02. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.48. The stock has a market capitalization of $29.03 billion, a PE ratio of 24.89, a P/E/G ratio of 2.01 and a beta of -0.06.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.00 by $1.28. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The company had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.39 billion. During the same quarter in the previous year, the company posted $4.02 earnings per share. Biogen's quarterly revenue was up .4% compared to the same quarter last year. As a group, equities analysts predict that Biogen will post 16.12 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Priya Singhal sold 431 shares of the company's 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 completion of the transaction, the insider now directly owns 5,316 shares of the company's stock, valued at approximately $1,085,633.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.16% of the company's stock.

Hedge Funds Weigh In On Biogen

Large investors have recently modified their holdings of the business. Plato Investment Management Ltd boosted its stake in shares of Biogen by 82.8% during the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company's stock worth $25,000 after buying an additional 53 shares during the last quarter. Livelsberger Financial Advisory acquired a new position in shares of Biogen during the 4th quarter worth about $26,000. Rise Advisors LLC acquired a new position in shares of Biogen during the 1st quarter worth about $27,000. Itau Unibanco Holding S.A. bought a new stake in shares of Biogen in the 2nd quarter valued at about $33,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Biogen in the 1st quarter valued at about $36,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

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.