Analysts Set Biogen Inc. (NASDAQ:BIIB) PT at $242.68

Shares of Biogen Inc. (NASDAQ:BIIB) have earned a consensus recommendation of “Hold” from the twenty-nine analysts that are covering the stock, MarketBeat Ratings reports. Seventeen research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $235.68.

Several brokerages have commented on BIIB. TD Cowen cut 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. Wolfe Research began coverage on shares of Biogen in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Piper Sandler lowered shares of Biogen from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $315.00 to $138.00 in a report on Thursday. HC Wainwright reissued a “buy” rating and issued a $300.00 price target on shares of Biogen in a report on Thursday, October 31st. Finally, Citigroup started coverage on shares of Biogen in a report on Thursday, November 14th. They issued a “neutral” rating and a $190.00 price target on the stock.

Institutional Trading of Biogen

Several hedge funds and other institutional investors have recently bought and sold shares of BIIB. Itau Unibanco Holding S.A. purchased a new position in shares of Biogen in the second quarter worth $33,000. Ashton Thomas Securities LLC bought a new position in shares of Biogen during the third quarter valued at about $33,000. Venturi Wealth Management LLC raised its stake in shares of Biogen by 73.8% during the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 93 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Biogen by 139.8% during the second quarter. UMB Bank n.a. now owns 247 shares of the biotechnology company’s stock worth $57,000 after purchasing an additional 144 shares during the period. Finally, Rothschild Investment LLC bought a new stake in shares of Biogen in the second quarter worth about $60,000. Institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

NASDAQ BIIB opened at $152.21 on Friday. The company has a market cap of $22.18 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.74 and a beta of -0.07. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The firm’s 50-day simple moving average is $160.20 and its two-hundred day simple moving average is $190.34. Biogen has a 52 week low of $145.07 and a 52 week high of $264.58.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period last year, the firm earned $4.36 EPS. Biogen’s revenue for the quarter was down 2.5% on a year-over-year basis. Research analysts predict that Biogen will post 16.43 earnings per share for the current 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.