Brokerages Set Biogen Inc. (NASDAQ:BIIB) Target Price at $295.58

Biogen Inc. (NASDAQ:BIIB) has been given an average rating of “Moderate Buy” by the twenty-seven research firms that are currently covering the firm, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation and eighteen have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $293.88.

BIIB has been the topic of several recent analyst reports. Barclays cut their target price on Biogen from $215.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Thursday. Mizuho cut their target price on Biogen from $355.00 to $277.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Truist Financial reaffirmed a “buy” rating and set a $340.00 price objective on shares of Biogen in a research report on Monday, March 25th. StockNews.com lowered shares of Biogen from a “buy” rating to a “hold” rating in a report on Tuesday, February 20th. Finally, Piper Sandler lowered their target price on shares of Biogen from $350.00 to $325.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th.

Biogen Stock Performance

Shares of Biogen stock opened at $202.46 on Tuesday. The company has a market cap of $29.43 billion, a PE ratio of 25.37, a price-to-earnings-growth ratio of 1.84 and a beta of -0.02. Biogen has a 52 week low of $189.44 and a 52 week high of $319.76. The business has a 50 day moving average price of $212.76 and a 200-day moving average price of $234.17. The company has a quick ratio of 1.26, a current ratio of 2.00 and a debt-to-equity ratio of 0.46.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22. Biogen had a return on equity of 14.91% and a net margin of 11.81%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the business posted $3.40 earnings per share. The firm’s revenue was down 7.0% compared to the same quarter last year. Equities analysts anticipate that Biogen will post 15.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Biogen news, insider Priya Singhal sold 262 shares of Biogen stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the transaction, the insider now directly owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Eric K. Rowinsky acquired 455 shares of the stock in a transaction dated Thursday, February 15th. The stock was acquired at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the purchase, the director now owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Priya Singhal sold 262 shares of Biogen stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total transaction of $57,962.26. Following the sale, the insider now owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 882 shares of company stock valued at $202,030. 0.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIIB. International Assets Investment Management LLC lifted its position in Biogen by 119.3% during the third quarter. International Assets Investment Management LLC now owns 1,921 shares of the biotechnology company’s stock valued at $495,000 after purchasing an additional 1,045 shares during the period. AE Wealth Management LLC raised its position in shares of Biogen by 31.4% in the third quarter. AE Wealth Management LLC now owns 1,666 shares of the biotechnology company’s stock worth $428,000 after acquiring an additional 398 shares during the period. HB Wealth Management LLC raised its position in shares of Biogen by 13.2% in the third quarter. HB Wealth Management LLC now owns 1,660 shares of the biotechnology company’s stock worth $427,000 after acquiring an additional 194 shares during the period. PFG Advisors raised its position in shares of Biogen by 6.3% in the third quarter. PFG Advisors now owns 985 shares of the biotechnology company’s stock worth $253,000 after acquiring an additional 58 shares during the period. Finally, Flagship Harbor Advisors LLC raised its position in shares of Biogen by 8.5% in the third quarter. Flagship Harbor Advisors LLC now owns 1,661 shares of the biotechnology company’s stock worth $427,000 after acquiring an additional 130 shares during the period. 87.93% of the stock is currently 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.