Biogen Inc. (NASDAQ:BIIB) Receives $230.00 Consensus Target Price from Brokerages

Biogen Inc. (NASDAQ:BIIB) has earned a consensus recommendation of “Hold” from the twenty-eight brokerages that are covering the stock, MarketBeat Ratings reports. Sixteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $230.00.

A number of brokerages have recently commented on BIIB. Citigroup assumed coverage on shares of Biogen in a report on Thursday, November 14th. They set a “neutral” rating and a $190.00 price target on the stock. Mizuho reduced their price objective on shares of Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. Wolfe Research began coverage on Biogen in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Oppenheimer lowered their price objective 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. Finally, BMO Capital Markets cut Biogen from an “outperform” rating to a “market perform” rating and cut their target price for the company from $230.00 to $164.00 in a research report on Friday, December 20th.

Biogen Trading Up 1.8 %

Shares of BIIB stock opened at $146.20 on Thursday. Biogen has a fifty-two week low of $139.71 and a fifty-two week high of $251.99. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The stock’s fifty day moving average price is $151.93 and its two-hundred day moving average price is $181.95. The company has a market cap of $21.30 billion, a PE ratio of 13.21, a P/E/G ratio of 1.64 and a beta of -0.07.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results 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. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the business earned $4.36 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. Equities analysts predict that Biogen will post 16.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Biogen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BIIB. State Street Corp boosted its holdings in Biogen by 3.5% during the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after acquiring an additional 248,942 shares during the period. Geode Capital Management LLC grew its stake in shares of Biogen by 1.3% in the third quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock worth $698,062,000 after acquiring an additional 47,055 shares during the last quarter. Pacer Advisors Inc. increased its stake in Biogen by 13,574.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after purchasing an additional 2,648,024 shares in the last quarter. RA Capital Management L.P. raised its holdings in Biogen by 20.6% in the 3rd quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock worth $229,595,000 after acquiring an additional 202,317 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Biogen by 1.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,152,691 shares of the biotechnology company’s stock valued at $223,438,000 after purchasing an additional 18,905 shares in the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

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.