Biogen Inc (NASDAQ:BIIB) Given Average Recommendation of “Hold” by Brokerages

Shares of Biogen Inc (NASDAQ:BIIB) have been assigned an average rating of “Hold” from the thirty-seven research firms that are currently covering the stock, reports. Five investment analysts have rated the stock with a sell recommendation, twenty-one have assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $286.38.

A number of research firms have recently issued reports on BIIB. UBS Group increased their price target on shares of Biogen from $280.00 to $334.00 and gave the stock a “positive” rating in a research report on Tuesday, October 22nd. ValuEngine upgraded Biogen from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group boosted their target price on Biogen from $255.00 to $310.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Sanford C. Bernstein raised Biogen from a “market perform” rating to an “outperform” rating in a research note on Tuesday, October 29th. Finally, Morgan Stanley increased their target price on shares of Biogen from $212.00 to $262.00 and gave the stock an “underweight” rating in a report on Wednesday, October 23rd.

In other Biogen news, Director Brian S. Posner sold 1,055 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $292.35, for a total value of $308,429.25. Following the completion of the transaction, the director now directly owns 6,995 shares in the company, valued at approximately $2,044,988.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.39% of the company’s stock.

Several large investors have recently modified their holdings of the company. Resources Management Corp CT ADV acquired a new position in Biogen during the 3rd quarter worth about $34,000. Institutional & Family Asset Management LLC lifted its holdings in shares of Biogen by 7.3% in the third quarter. Institutional & Family Asset Management LLC now owns 543 shares of the biotechnology company’s stock valued at $126,000 after buying an additional 37 shares during the period. Maverick Capital Ltd. bought a new position in Biogen during the third quarter valued at about $1,145,000. Man Group plc boosted its stake in Biogen by 47.0% during the third quarter. Man Group plc now owns 694,842 shares of the biotechnology company’s stock valued at $161,773,000 after buying an additional 222,250 shares in the last quarter. Finally, Squarepoint Ops LLC grew its holdings in Biogen by 16.9% during the third quarter. Squarepoint Ops LLC now owns 47,194 shares of the biotechnology company’s stock worth $10,988,000 after acquiring an additional 6,826 shares during the period. Institutional investors own 87.47% of the company’s stock.

NASDAQ BIIB traded up $13.64 during trading hours on Friday, hitting $303.16. The company had a trading volume of 1,162,726 shares, compared to its average volume of 1,930,111. The company has a quick ratio of 1.74, a current ratio of 1.91 and a debt-to-equity ratio of 0.35. The firm has a market cap of $54.10 billion, a P/E ratio of 11.57, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. Biogen has a fifty-two week low of $215.77 and a fifty-two week high of $344.00. The business has a fifty day simple moving average of $284.23 and a 200-day simple moving average of $244.41.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Tuesday, October 22nd. The biotechnology company reported $9.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.27 by $0.90. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.53 billion. Biogen had a net margin of 37.91% and a return on equity of 46.14%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.40 earnings per share. Equities analysts forecast that Biogen will post 33.14 EPS for the current fiscal year.

About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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