Biogen Inc. (NASDAQ:BIIB) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Biogen Inc. (NASDAQ:BIIB) have been assigned an average recommendation of “Moderate Buy” from the twenty-five ratings firms that are presently covering the firm, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $273.78.

Several equities research analysts recently issued reports on the stock. StockNews.com raised shares of Biogen from a “buy” rating to a “strong-buy” rating in a report on Monday, September 2nd. Piper Sandler decreased their price target on shares of Biogen from $335.00 to $313.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. William Blair reaffirmed an “outperform” rating on shares of Biogen in a report on Wednesday, July 3rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $292.00 target price on shares of Biogen in a research report on Monday, September 9th. Finally, Wells Fargo & Company cut their target price on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd.

Insider Activity

In other news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the sale, the insider now owns 5,316 shares in the company, valued at $1,085,633.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by company insiders.

Institutional Trading of Biogen

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wedge Capital Management L L P NC grew its stake in shares of Biogen by 2.8% in the 3rd quarter. Wedge Capital Management L L P NC now owns 152,661 shares of the biotechnology company’s stock worth $29,592,000 after acquiring an additional 4,147 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in shares of Biogen in the 3rd quarter worth $100,000. Exchange Traded Concepts LLC grew its stake in shares of Biogen by 4,516.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,662 shares of the biotechnology company’s stock worth $322,000 after acquiring an additional 1,626 shares in the last quarter. City State Bank grew its stake in shares of Biogen by 21.9% in the 3rd quarter. City State Bank now owns 892 shares of the biotechnology company’s stock worth $173,000 after acquiring an additional 160 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Biogen by 521.7% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,430 shares of the biotechnology company’s stock worth $277,000 after acquiring an additional 1,200 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

BIIB stock opened at $191.56 on Tuesday. The company has a quick ratio of 1.48, a current ratio of 2.29 and a debt-to-equity ratio of 0.40. Biogen has a 12 month low of $181.31 and a 12 month high of $269.43. The firm has a market cap of $27.89 billion, a P/E ratio of 23.92, a P/E/G ratio of 1.87 and a beta of -0.06. The company’s 50-day moving average price is $198.00 and its two-hundred day moving average price is $211.53.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.00 by $1.28. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The firm’s revenue was up .4% on a year-over-year basis. During the same period in the previous year, the firm posted $4.02 EPS. On average, analysts anticipate that Biogen will post 16.13 earnings per share for the current fiscal year.

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.