Analysts Set Biogen Inc. (NASDAQ:BIIB) Target Price at $261.58

Shares of Biogen Inc. (NASDAQ:BIIB) have earned a consensus recommendation of “Moderate Buy” from the twenty-six ratings firms that are presently covering the company, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $261.58.

A number of equities analysts have weighed in on BIIB shares. Oppenheimer decreased their price target on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Barclays decreased their price target on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. BMO Capital Markets decreased their price target on shares of Biogen from $260.00 to $230.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Wells Fargo & Company decreased their price target on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Finally, Scotiabank decreased their price target on shares of Biogen from $275.00 to $244.00 and set a “sector outperform” rating on the stock in a report on Friday, August 2nd.

Biogen Stock Down 1.5 %

Shares of NASDAQ BIIB opened at $165.79 on Friday. Biogen has a 1 year low of $165.53 and a 1 year high of $268.30. The firm’s 50 day moving average price is $188.32 and its 200 day moving average price is $208.37. The firm has a market cap of $24.16 billion, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 1.60 and a beta of -0.06. 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 announced its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the business earned $4.36 earnings per share. Biogen’s revenue was down 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Biogen will post 16.4 earnings per share for the current year.

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,085,633.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.16% of the company’s stock.

Institutional Investors Weigh In On Biogen

Institutional investors have recently modified their holdings of the business. Plato Investment Management Ltd grew its position in shares of Biogen by 82.8% during the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 53 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Biogen during the 2nd quarter valued at about $33,000. Ashton Thomas Securities LLC bought a new stake in shares of Biogen during the 3rd quarter valued at about $33,000. EntryPoint Capital LLC bought a new stake in shares of Biogen during the 1st quarter valued at about $36,000. Finally, Versant Capital Management Inc grew its position in shares of Biogen by 123.2% during the 2nd quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 85 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

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.