Brokerages Set Biogen Inc. (NASDAQ:BIIB) PT at $305.68

Biogen Inc. (NASDAQ:BIIBGet Free Report) has earned a consensus recommendation of “Moderate Buy” from the twenty-seven brokerages that are presently covering the company, Marketbeat reports. Eight investment analysts have rated the stock with a hold recommendation and nineteen have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $305.68.

A number of equities analysts have issued reports on BIIB shares. Bank Of America (Bofa) reduced their target price on Biogen from $290.00 to $280.00 and set a “neutral” rating on the stock in a report on Monday, February 12th. Mizuho reduced their target price on Biogen from $355.00 to $277.00 and set a “buy” rating on the stock in a report on Thursday, February 22nd. UBS Group reduced their target price on Biogen from $276.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. Piper Sandler reduced their target price on Biogen from $350.00 to $325.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Finally, Canaccord Genuity Group reduced their target price on Biogen from $310.00 to $305.00 and set a “buy” rating on the stock in a report on Tuesday, February 20th.

View Our Latest Stock Report on Biogen

Biogen Price Performance

Shares of BIIB stock opened at $215.63 on Friday. The stock has a 50-day moving average price of $228.40 and a 200 day moving average price of $241.47. The company has a quick ratio of 1.26, a current ratio of 2.00 and a debt-to-equity ratio of 0.46. The firm has a market cap of $31.34 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 1.80 and a beta of -0.03. Biogen has a 12 month low of $211.01 and a 12 month high of $319.76.

Biogen (NASDAQ:BIIBGet Free Report) last announced its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 EPS for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.47 billion. Biogen had a return on equity of 14.91% and a net margin of 11.81%. During the same quarter in the previous year, the business earned $4.05 earnings per share. Research analysts expect that Biogen will post 15.48 EPS for the current year.

Insider Buying and Selling at Biogen

In other Biogen news, insider Priya Singhal sold 262 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total transaction of $57,962.26. Following the transaction, the insider now owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Eric K. Rowinsky purchased 455 shares of the stock in a transaction on Thursday, February 15th. The shares were purchased at an average price of $222.54 per share, with a total value of $101,255.70. Following the transaction, the director now directly owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Priya Singhal sold 262 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the transaction, the insider now directly owns 4,886 shares in the company, valued at approximately $1,080,929.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 789 shares of company stock worth $182,213. Corporate insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BIIB. Nomura Holdings Inc. acquired a new position in shares of Biogen during the 4th quarter worth approximately $757,000. HighPoint Advisor Group LLC acquired a new position in shares of Biogen during the 4th quarter worth approximately $496,000. Livelsberger Financial Advisory acquired a new position in shares of Biogen during the 4th quarter worth approximately $26,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Biogen during the 4th quarter worth approximately $6,469,000. Finally, M3 Advisory Group LLC acquired a new position in shares of Biogen during the 4th quarter worth approximately $219,000. Institutional investors and hedge funds own 87.93% 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 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.

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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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