Biogen Inc. (NASDAQ:BIIB) Given Average Recommendation of “Hold” by Brokerages

Biogen Inc. (NASDAQ:BIIB) has earned an average recommendation of “Hold” from the thirty research firms that are currently covering the stock, Marketbeat Ratings reports. Seventeen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $211.96.

Several equities analysts have recently commented on BIIB shares. The Goldman Sachs Group lowered their price target on shares of Biogen from $281.00 to $245.00 and set a “buy” rating on the stock in a report on Thursday. Needham & Company LLC restated a “hold” rating on shares of Biogen in a report on Thursday. Morgan Stanley decreased their price objective on shares of Biogen from $192.00 to $157.00 and set an “equal weight” rating for the company in a report on Thursday. TD Cowen decreased their price objective on shares of Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, Sanford C. Bernstein started coverage on shares of Biogen in a report on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 price objective for the company.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Grandfield & Dodd LLC raised its position in Biogen by 5.2% in the third quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock worth $244,000 after purchasing an additional 62 shares in the last quarter. Quintet Private Bank Europe S.A. raised its position in Biogen by 9.7% in the third quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock worth $138,000 after purchasing an additional 63 shares in the last quarter. Signaturefd LLC raised its position in Biogen by 3.5% in the fourth quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company’s stock worth $320,000 after purchasing an additional 71 shares in the last quarter. Quent Capital LLC raised its position in Biogen by 31.9% in the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock worth $46,000 after purchasing an additional 72 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its position in Biogen by 25.0% in the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock worth $75,000 after purchasing an additional 77 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $137.33 on Monday. The company’s fifty day moving average is $146.90 and its two-hundred day moving average is $172.99. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. Biogen has a 12-month low of $128.51 and a 12-month high of $238.00. The company has a market cap of $20.01 billion, a P/E ratio of 12.41, a price-to-earnings-growth ratio of 1.65 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last posted 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%. Equities analysts expect that Biogen will post 16.42 earnings per share 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.