Biogen Inc. (NASDAQ:BIIB) Receives $318.17 Consensus Target Price from Brokerages

Shares of Biogen Inc. (NASDAQ:BIIBGet Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-five ratings firms that are currently covering the company, Marketbeat reports. Six analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $318.17.

A number of analysts recently weighed in on BIIB shares. Wedbush decreased their price target on shares of Biogen from $266.00 to $239.00 and set a “neutral” rating for the company in a research report on Thursday, November 9th. Oppenheimer reissued an “outperform” rating and issued a $295.00 price objective on shares of Biogen in a research report on Tuesday, January 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $311.00 price objective on shares of Biogen in a research report on Wednesday, December 20th. BMO Capital Markets decreased their price objective on shares of Biogen from $314.00 to $295.00 and set an “outperform” rating for the company in a research report on Thursday, November 9th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $305.00 price objective on shares of Biogen in a research report on Thursday, October 26th.

Check Out Our Latest Analysis on Biogen

Biogen Stock Up 0.3 %

Shares of NASDAQ BIIB opened at $240.98 on Thursday. Biogen has a 52-week low of $220.86 and a 52-week high of $319.76. The firm has a fifty day moving average of $249.60 and a 200-day moving average of $252.53. The stock has a market capitalization of $34.92 billion and a PE ratio of 23.95. The company has a quick ratio of 1.09, a current ratio of 1.68 and a debt-to-equity ratio of 0.47.

Biogen (NASDAQ:BIIBGet Free Report) last announced its quarterly earnings results on Wednesday, November 8th. The biotechnology company reported $4.36 earnings per share for the quarter, topping analysts’ consensus estimates of $3.99 by $0.37. Biogen had a net margin of 14.63% and a return on equity of 16.40%. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the prior year, the company earned $4.77 EPS. The firm’s revenue was up .9% on a year-over-year basis. On average, analysts anticipate that Biogen will post 14.97 EPS for the current year.

Insiders Place Their Bets

In other Biogen news, insider Priya Singhal sold 110 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $248.00, for a total value of $27,280.00. Following the sale, the insider now owns 3,464 shares in the company, valued at $859,072. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BIIB. Raymond James Trust N.A. increased its stake in shares of Biogen by 16.4% during the first quarter. Raymond James Trust N.A. now owns 3,294 shares of the biotechnology company’s stock valued at $693,000 after acquiring an additional 464 shares during the period. Cibc World Market Inc. increased its stake in shares of Biogen by 39.9% during the first quarter. Cibc World Market Inc. now owns 15,244 shares of the biotechnology company’s stock valued at $3,210,000 after acquiring an additional 4,349 shares during the period. Vanguard Group Inc. increased its stake in shares of Biogen by 1.6% during the first quarter. Vanguard Group Inc. now owns 11,720,584 shares of the biotechnology company’s stock valued at $2,468,356,000 after acquiring an additional 183,285 shares during the period. Baird Financial Group Inc. grew its position in Biogen by 15.3% in the first quarter. Baird Financial Group Inc. now owns 89,722 shares of the biotechnology company’s stock worth $18,896,000 after buying an additional 11,882 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its position in Biogen by 10.7% in the first quarter. Brown Brothers Harriman & Co. now owns 5,938 shares of the biotechnology company’s stock worth $1,251,000 after buying an additional 573 shares during the last quarter. Institutional investors and hedge funds own 85.99% of the company’s stock.

About Biogen

(Get Free Report

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 offers 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.

Further Reading

Analyst Recommendations for Biogen (NASDAQ:BIIB)

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