Biogen Inc. (NASDAQ:BIIB) Receives $211.96 Average Target Price from Analysts

Shares of Biogen Inc. (NASDAQ:BIIB) have been given an average rating of “Hold” by the thirty analysts that are presently covering the stock, MarketBeat Ratings reports. Seventeen analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $211.85.

A number of equities research analysts recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of Biogen in a report on Thursday, February 13th. Wolfe Research started coverage on Biogen in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Stifel Nicolaus cut Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target for the company. in a research report on Monday, December 16th. Oppenheimer cut their price target on Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Finally, Barclays lowered their price objective on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 31st.

Institutional Trading of Biogen

Institutional investors have recently modified their holdings of the company. Inspire Trust Co. N.A. grew its stake in Biogen by 58.5% during the third quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock worth $2,113,000 after buying an additional 4,025 shares during the period. Assenagon Asset Management S.A. boosted its position in Biogen by 0.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock worth $6,646,000 after purchasing an additional 111 shares during the period. Centre Asset Management LLC raised its position in Biogen by 7.7% in the fourth quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock valued at $7,880,000 after purchasing an additional 3,698 shares during the period. Charles Schwab Investment Management Inc. raised its position in Biogen by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after purchasing an additional 12,319 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Biogen by 3.2% in the third quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock worth $32,687,000 after buying an additional 5,270 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Trading Up 2.6 %

NASDAQ:BIIB opened at $140.64 on Monday. Biogen has a 1 year low of $128.51 and a 1 year high of $238.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The stock has a fifty day moving average price of $145.34 and a two-hundred day moving average price of $171.22. The stock has a market capitalization of $20.59 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.47 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. As a group, sell-side analysts anticipate that Biogen will post 15.84 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.