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

Shares of Biogen Inc. (NASDAQ:BIIB) have earned a consensus recommendation of “Hold” from the thirty research firms that are currently covering the firm, Marketbeat reports. Seventeen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $213.33.

A number of equities analysts have recently weighed in on the stock. Morgan Stanley dropped their price target on shares of Biogen from $192.00 to $157.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 13th. Scotiabank dropped their price target on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating on the stock in a research note on Thursday, February 13th. Truist Financial dropped their price target on shares of Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. StockNews.com downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Finally, Canaccord Genuity Group decreased their price objective on shares of Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a report on Thursday, February 13th.

Biogen Stock Performance

BIIB opened at $139.98 on Friday. The company has a market capitalization of $20.49 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. Biogen has a 1-year low of $128.51 and a 1-year high of $238.00. The business has a 50 day moving average price of $143.35 and a two-hundred day moving average price of $165.02.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Research analysts predict that Biogen will post 15.83 EPS for the current fiscal year.

Insider Activity

In other news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the transaction, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.16% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. PKO Investment Management Joint Stock Co acquired a new stake in shares of Biogen in the fourth quarter valued at approximately $1,193,000. Wealthedge Investment Advisors LLC acquired a new stake in shares of Biogen in the fourth quarter valued at approximately $265,000. Lighthouse Financial LLC acquired a new stake in shares of Biogen in the fourth quarter valued at approximately $321,000. Siemens Fonds Invest GmbH increased its holdings in shares of Biogen by 159.4% in the fourth quarter. Siemens Fonds Invest GmbH now owns 14,321 shares of the biotechnology company’s stock valued at $2,190,000 after purchasing an additional 8,801 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Biogen in the fourth quarter valued at approximately $23,376,000. Institutional investors own 87.93% of the company’s stock.

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.