Biogen Inc. (NASDAQ:BIIB) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Biogen Inc. (NASDAQ:BIIBGet Free Report) has earned a consensus rating of “Moderate Buy” from the twenty-seven ratings firms that are covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and nineteen have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $305.68.

A number of brokerages have recently issued reports on BIIB. HC Wainwright reissued a “buy” rating and issued a $325.00 price target on shares of Biogen in a report on Wednesday, February 14th. Wedbush increased their price target on shares of Biogen from $239.00 to $245.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Wells Fargo & Company downgraded shares of Biogen from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $315.00 to $240.00 in a report on Wednesday, February 14th. Stifel Nicolaus lowered their target price on shares of Biogen from $315.00 to $287.00 and set a “buy” rating on the stock in a research note on Thursday, December 14th. Finally, Morgan Stanley raised their target price on shares of Biogen from $361.00 to $373.00 and gave the company an “overweight” rating in a research note on Friday, November 10th.

Get Our Latest Report on BIIB

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the transaction, the insider now owns 4,886 shares in the company, valued at $1,080,929.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Priya Singhal sold 262 shares of Biogen stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the sale, the insider now owns 4,886 shares in the company, valued at $1,080,929.78. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eric K. Rowinsky purchased 455 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the acquisition, the director now owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 899 shares of company stock worth $209,493. Insiders own 0.60% of the company’s stock.

Institutional Trading of Biogen

Several large investors have recently added to or reduced their stakes in BIIB. Boone Capital Management LLC raised its position in shares of Biogen by 52.9% in the 3rd quarter. Boone Capital Management LLC now owns 96,115 shares of the biotechnology company’s stock worth $24,703,000 after purchasing an additional 33,238 shares during the last quarter. Illinois Municipal Retirement Fund raised its position in shares of Biogen by 13.8% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 68,391 shares of the biotechnology company’s stock worth $17,577,000 after purchasing an additional 8,291 shares during the last quarter. Northern Trust Corp raised its position in shares of Biogen by 2.8% in the 3rd quarter. Northern Trust Corp now owns 1,643,035 shares of the biotechnology company’s stock worth $422,276,000 after purchasing an additional 45,437 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Biogen by 76.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 334 shares of the biotechnology company’s stock worth $95,000 after purchasing an additional 145 shares during the last quarter. Finally, Corton Capital Inc. bought a new stake in Biogen in the 3rd quarter worth about $326,000. Institutional investors own 85.99% of the company’s stock.

Biogen Price Performance

NASDAQ BIIB opened at $220.95 on Monday. The company has a market cap of $32.12 billion, a PE ratio of 27.69, a price-to-earnings-growth ratio of 1.85 and a beta of -0.02. Biogen has a 52 week low of $215.35 and a 52 week high of $319.76. The company has a quick ratio of 1.26, a current ratio of 2.00 and a debt-to-equity ratio of 0.46. The firm’s 50-day simple moving average is $242.70 and its two-hundred day simple moving average is $247.53.

Biogen (NASDAQ:BIIBGet Free Report) last released its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 EPS for the quarter, missing the consensus estimate of $3.18 by ($0.23). Biogen had a net margin of 11.81% and a return on equity of 14.91%. The business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same period last year, the company earned $4.05 earnings per share. Research analysts predict that Biogen will post 15.48 earnings per share for the current year.

About Biogen

(Get Free Report

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.

Further Reading

Analyst Recommendations for Biogen (NASDAQ:BIIB)

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