Brokerages Set Biogen Inc. (NASDAQ:BIIB) Price Target at $295.58

Biogen Inc. (NASDAQ:BIIB) has been given a consensus recommendation of “Moderate Buy” by the twenty-seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $293.88.

Several research firms have commented on BIIB. Needham & Company LLC reissued a “buy” rating and issued a $294.00 price objective on shares of Biogen in a research report on Wednesday. William Blair reissued an “outperform” rating on shares of Biogen in a research report on Monday, April 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $364.00 price objective on shares of Biogen in a research report on Tuesday, March 5th. StockNews.com cut shares of Biogen from a “buy” rating to a “hold” rating in a research report on Tuesday, February 20th. Finally, BMO Capital Markets lowered their price target on shares of Biogen from $295.00 to $285.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th.

Biogen Stock Up 3.2 %

Biogen stock opened at $208.90 on Tuesday. The firm has a market capitalization of $30.42 billion, a price-to-earnings ratio of 26.08, a price-to-earnings-growth ratio of 2.06 and a beta of -0.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.26 and a current ratio of 2.10. Biogen has a fifty-two week low of $189.44 and a fifty-two week high of $319.76. The stock’s fifty day moving average is $212.55 and its two-hundred day moving average is $233.57.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.45 by $0.22. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period last year, the firm posted $3.40 EPS. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. Analysts predict that Biogen will post 15.55 EPS for the current fiscal year.

Insider Activity

In related news, insider Priya Singhal sold 262 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction 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 available through this hyperlink. In related news, insider Priya Singhal sold 262 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the transaction, the insider now owns 4,886 shares in the company, valued at approximately $1,080,929.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric K. Rowinsky bought 455 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was bought at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the transaction, the director now directly owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The disclosure for this purchase can be found here. In the last three months, insiders sold 882 shares of company stock valued at $202,030. Company insiders own 0.60% of the company’s stock.

Institutional Trading of Biogen

Several hedge funds have recently bought and sold shares of BIIB. OFI Invest Asset Management acquired a new stake in shares of Biogen in the third quarter valued at approximately $26,000. Livelsberger Financial Advisory acquired a new stake in Biogen in the 4th quarter valued at approximately $26,000. Rise Advisors LLC bought a new stake in Biogen during the 1st quarter valued at $27,000. Gladius Capital Management LP acquired a new position in Biogen during the 3rd quarter worth $28,000. Finally, KB Financial Partners LLC grew its stake in shares of Biogen by 105.1% in the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 62 shares in the last quarter. 87.93% of the stock is currently owned by 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.