Biogen Inc. (NASDAQ:BIIB) Receives $177.46 Average PT from Brokerages

Shares of Biogen Inc. (NASDAQ:BIIB) have received a consensus recommendation of “Hold” from the twenty-seven analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and ten have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $178.9615.

Several research analysts have weighed in on the stock. Jefferies Financial Group began coverage on shares of Biogen in a report on Thursday, September 25th. They set a “buy” rating and a $190.00 price objective on the stock. BMO Capital Markets upped their target price on shares of Biogen from $128.00 to $150.00 in a report on Friday, October 31st. Mizuho raised their price target on shares of Biogen from $169.00 to $177.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. Wells Fargo & Company boosted their price objective on Biogen from $140.00 to $155.00 in a report on Friday, October 31st. Finally, Rothschild & Co Redburn increased their price objective on Biogen from $149.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th.

Biogen Stock Up 4.2%

BIIB stock opened at $175.30 on Wednesday. The stock’s 50 day simple moving average is $150.84 and its 200 day simple moving average is $137.93. The company has a market cap of $25.72 billion, a P/E ratio of 16.76, a price-to-earnings-growth ratio of 1.17 and a beta of 0.10. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50. Biogen has a fifty-two week low of $110.04 and a fifty-two week high of $176.02.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, beating the consensus estimate of $3.89 by $0.92. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter in the previous year, the company posted $4.08 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. On average, research analysts expect that Biogen will post 15.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 517 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total transaction of $69,045.35. Following the transaction, the insider directly owned 5,772 shares in the company, valued at approximately $770,850.60. This trade represents a 8.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Generali Investments CEE investicni spolecnost a.s. increased its position in shares of Biogen by 43.2% during the 2nd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 38,755 shares of the biotechnology company’s stock valued at $4,867,000 after purchasing an additional 11,695 shares during the last quarter. Privium Fund Management B.V. purchased a new stake in Biogen in the second quarter worth approximately $2,666,000. Valeo Financial Advisors LLC purchased a new stake in Biogen in the second quarter worth approximately $225,000. Nordea Investment Management AB grew its position in Biogen by 5.7% during the second quarter. Nordea Investment Management AB now owns 125,935 shares of the biotechnology company’s stock valued at $15,810,000 after acquiring an additional 6,811 shares during the last quarter. Finally, Point72 Europe London LLP purchased a new position in shares of Biogen during the first quarter worth approximately $11,286,000. 87.93% of the stock is owned by institutional investors.

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.