Brokerages Set Biogen Inc. (NASDAQ:BIIB) Price Target at $213.33

Biogen Inc. (NASDAQ:BIIB) has been given a consensus recommendation of “Hold” by the thirty research firms that are covering the stock, Marketbeat reports. Seventeen investment analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $213.33.

BIIB has been the subject of a number of recent research reports. The Goldman Sachs Group reduced their price objective on shares of Biogen from $281.00 to $245.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Truist Financial reduced their price objective on shares of Biogen from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. HC Wainwright reduced their price objective on shares of Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. BMO Capital Markets reduced their price objective on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a research note on Thursday, February 13th. Finally, William Blair reissued an “outperform” rating on shares of Biogen in a research note on Monday, January 13th.

Insider Activity at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction dated 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. This represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.16% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Larson Financial Group LLC raised its position in shares of Biogen by 640.9% in the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 141 shares during the period. Lee Danner & Bass Inc. acquired a new position in shares of Biogen in the fourth quarter worth about $25,000. Colonial Trust Co SC raised its position in shares of Biogen by 9,300.0% in the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 186 shares during the period. OFI Invest Asset Management acquired a new position in shares of Biogen during the 4th quarter worth about $32,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Biogen during the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Performance

Biogen stock opened at $139.44 on Friday. The company has a 50 day moving average price of $143.09 and a 200-day moving average price of $164.02. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. Biogen has a fifty-two week low of $128.51 and a fifty-two week high of $238.00. The company has a market capitalization of $20.41 billion, a PE ratio of 12.46, a P/E/G ratio of 1.51 and a beta of 0.01.

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