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

Shares of Biogen Inc. (NASDAQ:BIIB) have been assigned an average recommendation of “Hold” from the twenty-eight brokerages that are covering the company, Marketbeat Ratings reports. Sixteen research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $230.00.

Several equities research analysts have recently issued reports on BIIB shares. Robert W. Baird lifted their price target on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Piper Sandler cut shares of Biogen from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $315.00 to $138.00 in a research note on Thursday, January 2nd. Needham & Company LLC lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $270.00 price target on the stock. in a research note on Monday, November 18th. Raymond James reaffirmed a “market perform” rating on shares of Biogen in a research note on Thursday, October 10th. Finally, Wolfe Research initiated coverage on shares of Biogen in a research report on Friday, November 15th. They set a “peer perform” rating on the stock.

Hedge Funds Weigh In On Biogen

A number of hedge funds have recently made changes to their positions in BIIB. Pacer Advisors Inc. raised its holdings in shares of Biogen by 13,574.7% in the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock worth $407,919,000 after buying an additional 2,648,024 shares in the last quarter. International Assets Investment Management LLC raised its stake in Biogen by 19,722.9% during the third quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock worth $695,870,000 after acquiring an additional 357,181 shares in the last quarter. Mizuho Securities USA LLC lifted its holdings in shares of Biogen by 2,715.9% during the third quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock valued at $61,253,000 after acquiring an additional 304,778 shares during the period. Erste Asset Management GmbH acquired a new stake in shares of Biogen in the 3rd quarter valued at $55,826,000. Finally, State Street Corp grew its holdings in shares of Biogen by 3.5% in the 3rd 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 during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Up 1.3 %

Biogen stock opened at $142.75 on Thursday. The firm’s 50 day moving average price is $153.09 and its two-hundred day moving average price is $183.08. The firm has a market cap of $20.80 billion, a PE ratio of 12.90, a P/E/G ratio of 1.61 and a beta of -0.07. Biogen has a twelve month low of $139.71 and a twelve month high of $251.99. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26.

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 analysts’ consensus estimates of $3.77 by $0.31. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. Biogen’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.36 earnings per share. On average, research analysts predict that Biogen will post 16.41 EPS for the current fiscal year.

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.