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

Shares of Biogen Inc. (NASDAQ:BIIB) have been assigned an average rating of “Moderate Buy” from the twenty-eight research firms that are covering the firm, Marketbeat.com reports. Thirteen analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $257.20.

BIIB has been the subject of a number of analyst reports. Barclays reduced their price objective on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Wolfe Research assumed coverage on Biogen in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Royal Bank of Canada lowered their price target on Biogen from $292.00 to $269.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $292.00 target price on shares of Biogen in a research note on Monday, September 9th. Finally, Morgan Stanley lowered shares of Biogen from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $285.00 to $204.00 in a research report on Thursday, October 31st.

Biogen Trading Down 2.1 %

Shares of BIIB stock opened at $160.85 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The stock has a 50-day simple moving average of $176.56 and a 200 day simple moving average of $201.80. Biogen has a fifty-two week low of $153.62 and a fifty-two week high of $268.30. The stock has a market capitalization of $23.44 billion, a P/E ratio of 14.53, a P/E/G ratio of 1.55 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.31. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The business’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.36 EPS. On average, sell-side analysts expect that Biogen will post 16.45 earnings per share for the current fiscal year.

Institutional Trading of Biogen

Several hedge funds have recently added to or reduced their stakes in BIIB. Charles Schwab Investment Management Inc. lifted its position in shares of Biogen by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock worth $176,982,000 after acquiring an additional 12,319 shares during the period. Principal Financial Group Inc. lifted its position in Biogen by 3.2% in the third quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock worth $32,687,000 after purchasing an additional 5,270 shares during the period. Arlington Partners LLC boosted its stake in Biogen by 34.3% during the third quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company’s stock worth $3,724,000 after buying an additional 4,902 shares in the last quarter. Cetera Investment Advisers increased its holdings in Biogen by 235.1% in the 1st quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock valued at $3,204,000 after buying an additional 10,425 shares during the period. Finally, National Pension Service raised its stake in shares of Biogen by 10.1% in the 3rd quarter. National Pension Service now owns 359,569 shares of the biotechnology company’s stock valued at $69,699,000 after buying an additional 32,914 shares in 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.