Biogen Inc. (NASDAQ:BIIB) Given Average Rating of "Moderate Buy" by Brokerages

Shares of Biogen Inc. (NASDAQ:BIIB - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the twenty-five research firms that are currently covering the firm, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $273.78.

A number of analysts have recently issued reports on the company. Robert W. Baird decreased their target price on Biogen from $316.00 to $294.00 and set an "outperform" rating for the company in a report on Monday, July 29th. Cantor Fitzgerald reissued an "overweight" rating and issued a $292.00 target price on shares of Biogen in a research note on Monday, September 9th. Truist Financial reaffirmed a "buy" rating and set a $302.00 price target (down from $340.00) on shares of Biogen in a research report on Monday, August 5th. William Blair reissued an "outperform" rating on shares of Biogen in a research report on Wednesday, July 3rd. Finally, UBS Group decreased their target price on Biogen from $234.00 to $202.00 and set a "neutral" rating for the company in a research report on Thursday, October 3rd.

Insider Activity

In other Biogen news, insider Priya Singhal sold 431 shares of the firm's stock in a transaction that occurred 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 sale, the insider now owns 5,316 shares in the company, valued at approximately $1,085,633.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.16% of the company's stock.

Hedge Funds Weigh In On Biogen

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Richardson Financial Services Inc. acquired a new position in shares of Biogen in the 4th quarter worth approximately $113,000. SageView Advisory Group LLC grew its position in Biogen by 8.2% in the fourth quarter. SageView Advisory Group LLC now owns 951 shares of the biotechnology company's stock worth $235,000 after buying an additional 72 shares during the last quarter. HighPoint Advisor Group LLC bought a new position in shares of Biogen in the fourth quarter valued at $496,000. Nomura Holdings Inc. acquired a new stake in shares of Biogen during the 4th quarter valued at $757,000. Finally, CWM LLC lifted its stake in Biogen by 7.1% during the first quarter. CWM LLC now owns 3,703 shares of the biotechnology company's stock valued at $798,000 after buying an additional 245 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

Biogen Trading Down 0.0 %

NASDAQ:BIIB traded down $0.01 on Tuesday, reaching $191.55. The stock had a trading volume of 1,429,221 shares, compared to its average volume of 1,125,013. Biogen has a 12-month low of $181.31 and a 12-month high of $269.43. The firm's fifty day moving average is $198.00 and its two-hundred day moving average is $211.53. The company has a market cap of $27.89 billion, a price-to-earnings ratio of 23.92, a P/E/G ratio of 1.87 and a beta of -0.06. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.48.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.00 by $1.28. Biogen had a return on equity of 15.71% and a net margin of 11.98%. The business had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.39 billion. During the same quarter last year, the firm earned $4.02 earnings per share. The business's revenue was up .4% on a year-over-year basis. Equities analysts expect that Biogen will post 16.13 EPS 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.