Biogen Inc. (NASDAQ:BIIB) Receives $288.46 Consensus Price Target from Analysts

Biogen Inc. (NASDAQ:BIIB) has earned a consensus rating of “Moderate Buy” from the twenty-six brokerages that are covering the stock, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $288.46.

A number of equities research analysts have recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $294.00 price target on shares of Biogen in a report on Wednesday. Barclays lowered their price target on shares of Biogen from $215.00 to $200.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. UBS Group lowered their price target on shares of Biogen from $250.00 to $214.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Truist Financial reissued a “buy” rating and issued a $340.00 target price on shares of Biogen in a research report on Thursday, May 16th. Finally, StockNews.com cut shares of Biogen from a “buy” rating to a “hold” rating in a research report on Tuesday, February 20th.

Institutional Trading of Biogen

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC increased its stake in Biogen by 2.3% during the third quarter. Sequoia Financial Advisors LLC now owns 2,043 shares of the biotechnology company’s stock valued at $525,000 after purchasing an additional 45 shares during the last quarter. PAX Financial Group LLC grew its position in shares of Biogen by 2.9% during the third quarter. PAX Financial Group LLC now owns 1,577 shares of the biotechnology company’s stock worth $405,000 after acquiring an additional 45 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in Biogen by 2.4% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,955 shares of the biotechnology company’s stock worth $502,000 after purchasing an additional 45 shares during the period. KCM Investment Advisors LLC lifted its holdings in Biogen by 1.7% in the first quarter. KCM Investment Advisors LLC now owns 2,953 shares of the biotechnology company’s stock worth $637,000 after purchasing an additional 48 shares during the period. Finally, Quent Capital LLC lifted its holdings in Biogen by 17.0% in the fourth quarter. Quent Capital LLC now owns 337 shares of the biotechnology company’s stock worth $87,000 after purchasing an additional 49 shares during the period. Institutional investors own 87.93% of the company’s stock.

Biogen Stock Performance

NASDAQ:BIIB opened at $217.81 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.32 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average price of $212.88 and a two-hundred day moving average price of $229.62. Biogen has a twelve month low of $189.44 and a twelve month high of $319.76. The company has a market capitalization of $31.71 billion, a P/E ratio of 27.19, a price-to-earnings-growth ratio of 2.27 and a beta of -0.01.

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. As a group, research analysts expect that Biogen will post 15.61 earnings per share for the current fiscal year.

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.