Analysts Set Biogen Inc. (NASDAQ:BIIB) Target Price at $288.46

Shares of Biogen Inc. (NASDAQ:BIIB) have been given a consensus rating of “Moderate Buy” by the twenty-six ratings firms that are covering the firm, Marketbeat reports. Nine equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $288.46.

Several equities research analysts recently weighed in on the company. Barclays decreased their price objective on Biogen from $215.00 to $200.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. Needham & Company LLC restated a “buy” rating and set a $294.00 price target on shares of Biogen in a research note on Wednesday. William Blair reissued an “outperform” rating on shares of Biogen in a report on Monday, April 1st. Bank Of America (Bofa) reduced their price target on Biogen from $290.00 to $280.00 and set a “neutral” rating for the company in a research report on Monday, February 12th. Finally, UBS Group dropped their price objective on Biogen from $250.00 to $214.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Teacher Retirement System of Texas lifted its holdings in Biogen by 1.8% during the third quarter. Teacher Retirement System of Texas now owns 38,312 shares of the biotechnology company’s stock valued at $9,847,000 after purchasing an additional 694 shares in the last quarter. Orion Portfolio Solutions LLC boosted its holdings in Biogen by 3.5% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 9,469 shares of the biotechnology company’s stock worth $2,434,000 after buying an additional 316 shares during the last quarter. New Mexico Educational Retirement Board raised its holdings in shares of Biogen by 7.1% during the third quarter. New Mexico Educational Retirement Board now owns 7,524 shares of the biotechnology company’s stock valued at $1,934,000 after acquiring an additional 500 shares during the last quarter. AIA Group Ltd lifted its position in shares of Biogen by 4.9% in the third quarter. AIA Group Ltd now owns 1,704 shares of the biotechnology company’s stock valued at $438,000 after acquiring an additional 80 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Biogen by 45.3% in the third quarter. Daiwa Securities Group Inc. now owns 27,079 shares of the biotechnology company’s stock worth $6,865,000 after acquiring an additional 8,442 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Performance

BIIB opened at $225.21 on Friday. The company has a market cap of $32.79 billion, a price-to-earnings ratio of 28.12, a PEG ratio of 2.35 and a beta of -0.01. The company’s fifty day moving average price is $212.94 and its two-hundred day moving average price is $229.92. Biogen has a 1-year low of $189.44 and a 1-year high of $319.76. The company has a current ratio of 2.10, a quick ratio of 1.32 and a debt-to-equity ratio of 0.41.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the firm posted $3.40 EPS. Biogen’s quarterly revenue was down 7.0% compared to the same quarter last year. On average, analysts expect that Biogen will post 15.59 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.