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

Biogen Inc. (NASDAQ:BIIB) has been assigned an average recommendation of “Hold” from the thirty research firms that are currently covering the stock, MarketBeat Ratings reports. Seventeen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $213.33.

Several equities analysts have recently weighed in on BIIB shares. Bank of America reissued a “neutral” rating and set a $178.00 price target on shares of Biogen in a report on Tuesday, December 10th. Truist Financial decreased their target price on Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Wells Fargo & Company decreased their target price on Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. Royal Bank of Canada decreased their target price on Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, Bank Of America (Bofa) decreased their target price on Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th.

Biogen Stock Performance

Shares of BIIB opened at $139.44 on Friday. The business’s fifty day simple moving average is $143.09 and its two-hundred day simple moving average is $164.02. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. Biogen has a 12 month low of $128.51 and a 12 month high of $238.00. The company has a market cap of $20.41 billion, a price-to-earnings ratio of 12.46, a P/E/G ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last released 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 return on equity of 14.98% and a net margin of 16.87%. Research analysts anticipate that Biogen will post 15.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock in a transaction dated Friday, March 7th. The stock was 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 trade represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Biogen by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 16,748,875 shares of the biotechnology company’s stock worth $2,561,238,000 after purchasing an additional 70,368 shares during the last quarter. State Street Corp lifted its stake in Biogen by 3.5% in the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after purchasing an additional 248,942 shares during the last quarter. Geode Capital Management LLC lifted its stake in Biogen by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,695,476 shares of the biotechnology company’s stock worth $563,709,000 after purchasing an additional 82,456 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Biogen by 13,574.7% in the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock worth $407,919,000 after purchasing an additional 2,648,024 shares during the last quarter. Finally, Norges Bank bought a new stake in Biogen in the fourth quarter worth about $355,569,000. Hedge funds and other 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.