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

Biogen Inc. (NASDAQ:BIIB) has been assigned a consensus recommendation of “Hold” from the twenty-nine research firms that are covering the firm, Marketbeat Ratings reports. Sixteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $242.68.

A number of equities analysts have issued reports on BIIB shares. HC Wainwright restated a “buy” rating and set a $300.00 target price on shares of Biogen in a report on Thursday, October 31st. Bank of America reiterated a “neutral” rating and issued a $178.00 price target on shares of Biogen in a research report on Tuesday, December 10th. Oppenheimer decreased their price objective on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Mizuho cut their target price 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, Jefferies Financial Group lowered shares of Biogen from a “buy” rating to a “hold” rating and decreased their price target for the company from $250.00 to $180.00 in a report on Monday, December 9th.

Biogen Stock Up 1.8 %

Shares of NASDAQ:BIIB opened at $152.92 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The stock has a market cap of $22.28 billion, a price-to-earnings ratio of 13.81, a P/E/G ratio of 1.74 and a beta of -0.08. The company has a 50 day moving average of $162.07 and a 200-day moving average of $191.42. Biogen has a one year low of $145.07 and a one year high of $268.30.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.36 EPS. On average, sell-side analysts forecast that Biogen will post 16.43 earnings per share for the current year.

Institutional Investors Weigh In On Biogen

Institutional investors and hedge funds have recently made changes to their positions in the stock. Inspire Trust Co. N.A. increased its holdings in Biogen by 58.5% during the third quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock worth $2,113,000 after buying an additional 4,025 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Biogen by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock worth $176,982,000 after purchasing an additional 12,319 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Biogen by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock valued at $32,687,000 after purchasing an additional 5,270 shares during the period. Arlington Partners LLC lifted its stake 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 purchasing an additional 4,902 shares during the last quarter. Finally, Edgestream Partners L.P. grew its holdings in Biogen by 1,107.5% during the third quarter. Edgestream Partners L.P. now owns 11,218 shares of the biotechnology company’s stock worth $2,174,000 after purchasing an additional 10,289 shares during the period. Institutional investors own 87.93% of the company’s stock.

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.