Biogen Inc. (NASDAQ:BIIB) Receives $211.96 Average PT from Brokerages

Biogen Inc. (NASDAQ:BIIB) has received an average rating of “Hold” from the thirty ratings firms that are presently covering the company, Marketbeat reports. Seventeen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $211.85.

A number of research analysts recently commented on BIIB shares. Scotiabank reduced their price target on Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a report on Thursday, February 13th. TD Cowen reduced their target price on Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Royal Bank of Canada dropped their price target on shares of Biogen from $231.00 to $225.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Mizuho cut their price target on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a report on Thursday, November 21st. Finally, Morgan Stanley decreased their price objective on shares of Biogen from $192.00 to $157.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Exchange Traded Concepts LLC increased its position in shares of Biogen by 4,516.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,662 shares of the biotechnology company’s stock valued at $322,000 after purchasing an additional 1,626 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Biogen by 2.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,702 shares of the biotechnology company’s stock worth $3,819,000 after acquiring an additional 489 shares during the period. Blue Trust Inc. grew its holdings in Biogen by 165.2% during the third quarter. Blue Trust Inc. now owns 472 shares of the biotechnology company’s stock worth $91,000 after acquiring an additional 294 shares during the period. Raymond James & Associates raised its position in Biogen by 3.4% in the third quarter. Raymond James & Associates now owns 192,065 shares of the biotechnology company’s stock worth $37,230,000 after acquiring an additional 6,384 shares in the last quarter. Finally, Arlington Partners LLC lifted its holdings in Biogen by 34.3% in the 3rd quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company’s stock valued at $3,724,000 after acquiring an additional 4,902 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Price Performance

Shares of BIIB stock opened at $140.64 on Monday. The firm has a fifty day simple moving average of $145.34 and a 200-day simple moving average of $171.22. The company has a market capitalization of $20.59 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 1.47 and a beta of -0.08. Biogen has a twelve month low of $128.51 and a twelve month high of $238.00. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping 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%. Equities research analysts anticipate that Biogen will post 15.84 earnings per share for the current fiscal year.

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.