Biogen Inc. (NASDAQ:BIIB) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Biogen Inc. (NASDAQ:BIIB) has received a consensus recommendation of “Moderate Buy” from the twenty-five brokerages that are presently covering the firm, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $275.52.

A number of research firms have recently weighed in on BIIB. Robert W. Baird dropped their price target on shares of Biogen from $316.00 to $294.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $285.00 price target on shares of Biogen in a research note on Wednesday, September 4th. William Blair reiterated an “outperform” rating on shares of Biogen in a report on Wednesday, July 3rd. Wedbush cut their price objective on shares of Biogen from $215.00 to $210.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Barclays decreased their target price on shares of Biogen from $200.00 to $190.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd.

Biogen Trading Up 1.9 %

NASDAQ:BIIB opened at $201.44 on Friday. The stock has a market cap of $29.33 billion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 2.01 and a beta of -0.06. Biogen has a fifty-two week low of $189.44 and a fifty-two week high of $269.43. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.48. The stock’s 50-day moving average is $207.92 and its two-hundred day moving average is $215.17.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.00 by $1.28. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The firm’s revenue was up .4% on a year-over-year basis. During the same period in the previous year, the firm posted $4.02 earnings per share. As a group, equities research analysts forecast that Biogen will post 16.12 earnings per share for the current fiscal year.

Insider Activity at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the transaction, the insider now directly owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.16% of the stock is owned by corporate insiders.

Institutional Trading of Biogen

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Livelsberger Financial Advisory acquired a new stake in Biogen during the fourth quarter worth about $26,000. Plato Investment Management Ltd increased its position in shares of Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 53 shares during the period. Rise Advisors LLC acquired a new position in shares of Biogen in the first quarter valued at $27,000. Itau Unibanco Holding S.A. bought a new position in Biogen in the second quarter worth $33,000. Finally, Versant Capital Management Inc boosted its stake in Biogen by 123.2% during the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock worth $36,000 after buying an additional 85 shares in the last quarter. 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.