Brokerages Set Biogen Inc. (NASDAQ:BIIB) Target Price at $276.35

Shares of Biogen Inc. (NASDAQ:BIIB) have earned an average rating of “Moderate Buy” from the twenty-five ratings firms that are presently covering the company, Marketbeat reports. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $276.35.

Several equities research analysts have recently issued reports on BIIB shares. StockNews.com raised Biogen from a “hold” rating to a “buy” rating in a research report on Monday, August 5th. Mizuho decreased their price objective on shares of Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. HC Wainwright reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Biogen in a research report on Thursday, May 23rd. Royal Bank of Canada increased their target price on shares of Biogen from $282.00 to $292.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Piper Sandler decreased their price target on shares of Biogen from $335.00 to $313.00 and set an “overweight” rating for the company in a research note on Friday, July 12th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its position in Biogen by 8.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,309 shares of the biotechnology company’s stock worth $1,694,000 after buying an additional 543 shares in the last quarter. Systematic Financial Management LP grew its holdings in shares of Biogen by 12.3% during the second quarter. Systematic Financial Management LP now owns 4,670 shares of the biotechnology company’s stock worth $1,083,000 after purchasing an additional 510 shares in the last quarter. Creative Planning increased its position in shares of Biogen by 32.4% in the second quarter. Creative Planning now owns 18,274 shares of the biotechnology company’s stock worth $4,236,000 after purchasing an additional 4,473 shares during the last quarter. Kathmere Capital Management LLC purchased a new stake in Biogen in the second quarter valued at approximately $190,000. Finally, Texas Capital Bank Wealth Management Services Inc bought a new stake in Biogen during the second quarter valued at approximately $236,000. Institutional investors own 87.93% of the company’s stock.

Biogen Stock Performance

Shares of BIIB stock opened at $204.20 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.32. The firm has a 50-day moving average of $216.53 and a 200-day moving average of $217.59. Biogen has a one year low of $189.44 and a one year high of $270.50. The company has a market cap of $29.73 billion, a P/E ratio of 25.49, a P/E/G ratio of 2.09 and a beta of -0.04.

Biogen (NASDAQ:BIIB) last posted its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 EPS for the quarter, topping the consensus estimate of $4.00 by $1.28. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The company’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter last year, the firm earned $4.02 EPS. Equities research analysts forecast that Biogen will post 15.87 EPS 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.