Biogen Inc. (NASDAQ:BIIB) Receives Average Recommendation of “Hold” from Brokerages

Shares of Biogen Inc. (NASDAQ:BIIB) have received a consensus recommendation of “Hold” from the twenty-nine research firms that are currently covering the company, MarketBeat Ratings reports. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $242.68.

Several equities analysts have recently weighed in on BIIB shares. Royal Bank of Canada reduced their price target on Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Wedbush decreased their target price on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. StockNews.com cut shares of Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday. Morgan Stanley lowered shares of Biogen from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $285.00 to $204.00 in a report on Thursday, October 31st. Finally, BMO Capital Markets downgraded Biogen from an “outperform” rating to a “market perform” rating and cut their target price for the company from $230.00 to $164.00 in a research note on Friday, December 20th.

Biogen Trading Up 0.9 %

NASDAQ:BIIB opened at $151.31 on Friday. The firm has a market capitalization of $22.05 billion, a P/E ratio of 13.67, a PEG ratio of 1.83 and a beta of -0.08. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. Biogen has a one year low of $145.07 and a one year high of $268.30. The company’s 50-day simple moving average is $163.42 and its 200 day simple moving average is $192.83.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.31. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.36 EPS. As a group, analysts forecast that Biogen will post 16.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Primecap Management Co. CA increased its holdings in Biogen by 0.7% in the 2nd quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock worth $3,787,543,000 after acquiring an additional 117,578 shares in the last quarter. State Street Corp increased its stake in shares of Biogen by 3.5% in the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after purchasing an additional 248,942 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Biogen by 1.3% in the third quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock worth $698,062,000 after purchasing an additional 47,055 shares in the last quarter. RA Capital Management L.P. raised its position in shares of Biogen by 20.6% during the 3rd quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock valued at $229,595,000 after purchasing an additional 202,317 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Biogen by 1.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,152,691 shares of the biotechnology company’s stock worth $223,438,000 after buying an additional 18,905 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Company Profile

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.