Biogen Inc. (NASDAQ:BIIB) Given Average Rating of “Moderate Buy” by Brokerages

Biogen Inc. (NASDAQ:BIIBGet Free Report) has earned an average rating of “Moderate Buy” from the twenty-six analysts that are currently covering the stock, Marketbeat.com reports. Nine research analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $286.50.

Several equities analysts recently commented on the company. Truist Financial reiterated a “buy” rating and issued a $340.00 target price on shares of Biogen in a research note on Thursday, May 16th. Cantor Fitzgerald reissued an “overweight” rating and set a $311.00 price target on shares of Biogen in a research report on Tuesday, February 20th. HC Wainwright reissued a “buy” rating and set a $300.00 price target on shares of Biogen in a research report on Thursday, May 23rd. UBS Group lowered their price target on Biogen from $250.00 to $214.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Finally, Wedbush boosted their price target on Biogen from $213.00 to $215.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th.

Read Our Latest Report on Biogen

Biogen Stock Performance

NASDAQ BIIB opened at $223.65 on Wednesday. Biogen has a fifty-two week low of $189.44 and a fifty-two week high of $298.73. The stock has a market cap of $32.56 billion, a price-to-earnings ratio of 27.92, a price-to-earnings-growth ratio of 2.33 and a beta of -0.02. The business has a fifty day moving average of $217.51 and a 200-day moving average of $229.19. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41.

Biogen (NASDAQ:BIIBGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, topping 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 company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the firm posted $3.40 earnings per share. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, analysts predict that Biogen will post 15.63 earnings per share for the current fiscal year.

Institutional Trading of Biogen

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Biogen by 15.0% during the 1st quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock worth $3,573,075,000 after purchasing an additional 2,163,068 shares during the period. Primecap Management Co. CA raised its position in shares of Biogen by 1.6% during the 4th quarter. Primecap Management Co. CA now owns 16,264,481 shares of the biotechnology company’s stock worth $4,208,760,000 after purchasing an additional 251,915 shares during the period. Wellington Management Group LLP raised its position in shares of Biogen by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 5,374,310 shares of the biotechnology company’s stock worth $1,381,251,000 after purchasing an additional 27,951 shares during the period. Van ECK Associates Corp raised its position in shares of Biogen by 22.2% during the 1st quarter. Van ECK Associates Corp now owns 1,737,340 shares of the biotechnology company’s stock worth $374,623,000 after purchasing an additional 316,144 shares during the period. Finally, Northern Trust Corp raised its position in shares of Biogen by 2.8% during the 3rd quarter. Northern Trust Corp now owns 1,643,035 shares of the biotechnology company’s stock worth $422,276,000 after purchasing an additional 45,437 shares during the period. 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.

See Also

Analyst Recommendations for Biogen (NASDAQ:BIIB)

Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.