Biogen Inc. (NASDAQ:BIIB) Given Consensus Rating of “Hold” by Analysts

Shares of Biogen Inc. (NASDAQ:BIIB) have been assigned a consensus rating of “Hold” from the thirty ratings firms that are currently covering the company, MarketBeat Ratings reports. Seventeen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $213.33.

Several brokerages recently commented on BIIB. Truist Financial cut their price target on shares of Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. HC Wainwright reduced their price target on Biogen from $300.00 to $241.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Sanford C. Bernstein initiated coverage on Biogen in a report on Tuesday, February 11th. They set a “market perform” rating and a $160.00 price objective for the company. Morgan Stanley reduced their target price on Biogen from $192.00 to $157.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 13th. Finally, Jefferies Financial Group cut shares of Biogen from a “buy” rating to a “hold” rating and cut their price target for the stock from $250.00 to $180.00 in a report on Monday, December 9th.

Biogen Trading Down 0.0 %

Shares of BIIB stock opened at $141.38 on Friday. The company has a market cap of $20.69 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. Biogen has a 1 year low of $128.51 and a 1 year high of $238.00. The stock’s 50 day simple moving average is $142.32 and its two-hundred day simple moving average is $162.85. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90.

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

Insider Buying and Selling at Biogen

In related 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 value 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BIIB. Grandfield & Dodd LLC increased its holdings in Biogen by 5.2% in the 3rd quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock worth $244,000 after buying an additional 62 shares during the period. Signaturefd LLC increased its stake in shares of Biogen by 3.5% in the fourth quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company’s stock worth $320,000 after acquiring an additional 71 shares during the period. Quent Capital LLC raised its holdings in shares of Biogen by 31.9% during the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock worth $46,000 after purchasing an additional 72 shares during the last quarter. TD Private Client Wealth LLC lifted its position in Biogen by 25.0% during the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after purchasing an additional 77 shares during the period. Finally, Principal Securities Inc. boosted its holdings in Biogen by 30.1% in the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 78 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

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.