Analysts Set Biogen Inc. (NASDAQ:BIIB) Price Target at $213.33

Shares of Biogen Inc. (NASDAQ:BIIB) have earned an average recommendation of “Hold” from the thirty brokerages that are presently covering the company, Marketbeat Ratings reports. Seventeen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $213.33.

A number of research firms recently commented on BIIB. Piper Sandler reaffirmed a “neutral” rating and set a $135.00 target price (down previously from $138.00) on shares of Biogen in a report on Tuesday, February 18th. Sanford C. Bernstein initiated coverage on Biogen in a research report on Tuesday, February 11th. They set a “market perform” rating and a $160.00 price target for the company. The Goldman Sachs Group lowered their price target on Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Bank Of America (Bofa) decreased their target price on Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company reduced their price target on Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th.

Biogen Stock Performance

Shares of BIIB stock opened at $143.09 on Friday. Biogen has a 12 month low of $128.51 and a 12 month high of $238.00. The stock has a market cap of $20.94 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The company’s fifty day moving average price is $142.70 and its 200-day moving average price is $163.15.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. On average, equities analysts expect that Biogen will post 15.83 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Stephen A. Sherwin sold 8,760 shares of the business’s stock in a transaction dated 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 owns 11,318 shares in the company, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by insiders.

Institutional Trading of Biogen

Institutional investors and hedge funds have recently bought and sold shares of the company. Grandfield & Dodd LLC grew 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 in the last quarter. Signaturefd LLC grew its holdings in Biogen by 3.5% in the 4th quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company’s stock worth $320,000 after buying an additional 71 shares in the last quarter. Quent Capital LLC grew its holdings in Biogen by 31.9% in the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock worth $46,000 after buying an additional 72 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in Biogen by 25.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock worth $75,000 after buying an additional 77 shares in the last quarter. Finally, Principal Securities Inc. boosted its stake in Biogen by 30.1% during the 4th quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 78 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

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.