Biogen Inc. (NASDAQ:BIIB) Receives Average Rating of “Hold” from Analysts

Shares of Biogen Inc. (NASDAQ:BIIB) have been assigned an average recommendation of “Hold” from the thirty research firms that are covering the firm, Marketbeat reports. Seventeen analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $211.96.

BIIB has been the topic of several research analyst reports. William Blair reissued an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. The Goldman Sachs Group decreased their price target on shares of Biogen from $281.00 to $245.00 and set a “buy” rating on the stock in a research note on Thursday. Wells Fargo & Company decreased their price target on shares of Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Thursday. StockNews.com cut shares of Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Finally, Barclays reduced their price objective on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st.

Institutional Investors Weigh In On Biogen

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Inspire Trust Co. N.A. raised its holdings in shares of 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 acquiring an additional 4,025 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Biogen by 0.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock worth $6,646,000 after acquiring an additional 111 shares during the period. Centre Asset Management LLC raised its holdings in shares of Biogen by 7.7% during the fourth quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock worth $7,880,000 after acquiring an additional 3,698 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Biogen by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock worth $176,982,000 after acquiring an additional 12,319 shares during the period. Finally, Principal Financial Group Inc. increased its stake in 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 buying an additional 5,270 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Performance

NASDAQ BIIB opened at $137.33 on Monday. The firm has a market cap of $20.01 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 1.65 and a beta of -0.08. The company has a 50 day moving average of $146.90 and a 200-day moving average of $172.99. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen has a 1-year low of $128.51 and a 1-year high of $238.00.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.81% and a return on equity of 14.98%. On average, equities analysts forecast that Biogen will post 16.42 earnings per share 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.