Biogen Inc. (NASDAQ:BIIB) Given Average Rating of “Hold” by Analysts

Biogen Inc. (NASDAQ:BIIB) has earned an average recommendation of “Hold” from the twenty-eight analysts that are covering the company, Marketbeat.com reports. Sixteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $230.00.

A number of equities analysts have recently issued reports on the stock. Mizuho reduced their target price on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating on the stock in a research report on Thursday, November 21st. Raymond James reissued a “market perform” rating on shares of Biogen in a research note on Thursday, October 10th. Citigroup began coverage on Biogen in a research note on Thursday, November 14th. They issued a “neutral” rating and a $190.00 target price for the company. TD Cowen decreased their price target on Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, Barclays dropped their price objective on Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BIIB. Ashton Thomas Securities LLC bought a new position in shares of Biogen in the third quarter worth $33,000. Venturi Wealth Management LLC boosted its holdings in shares of Biogen by 73.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 93 shares in the last quarter. Itau Unibanco Holding S.A. raised its holdings in shares of Biogen by 63.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after buying an additional 90 shares in the last quarter. FSA Wealth Management LLC bought a new stake in shares of Biogen during the 3rd quarter worth $74,000. Finally, TD Private Client Wealth LLC boosted its stake in Biogen by 25.0% in the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after buying an additional 77 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Trading Up 1.3 %

Shares of BIIB opened at $142.75 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The company has a market cap of $20.80 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 1.61 and a beta of -0.07. The stock has a fifty day moving average price of $153.09 and a two-hundred day moving average price of $183.08. Biogen has a 52-week low of $139.71 and a 52-week high of $251.99.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $4.36 earnings per share. Analysts predict that Biogen will post 16.41 EPS for the current fiscal 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.