Biogen Inc. (NASDAQ:BIIB) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Biogen Inc. (NASDAQ:BIIB) have been assigned a consensus rating of “Moderate Buy” from the twenty-six ratings firms that are currently covering the stock, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $286.50.

Several analysts have recently commented on the stock. Truist Financial restated a “buy” rating and set a $340.00 price objective on shares of Biogen in a research report on Thursday, May 16th. Bank of America lowered their price objective on Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Needham & Company LLC reiterated a “buy” rating and set a $294.00 target price on shares of Biogen in a research report on Friday, June 28th. William Blair restated an “outperform” rating on shares of Biogen in a research note on Wednesday, July 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $317.00 price objective on shares of Biogen in a research report on Wednesday, June 26th.

Hedge Funds Weigh In On Biogen

Large investors have recently made changes to their positions in the company. Plato Investment Management Ltd lifted its stake in Biogen by 82.8% in the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 53 shares during the last quarter. Livelsberger Financial Advisory bought a new stake in shares of Biogen during the 4th quarter worth approximately $26,000. Rise Advisors LLC purchased a new position in Biogen during the 1st quarter valued at $27,000. Gladius Capital Management LP bought a new position in Biogen in the 3rd quarter valued at $28,000. Finally, Hexagon Capital Partners LLC increased its stake in Biogen by 76.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 51 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Price Performance

NASDAQ BIIB opened at $236.80 on Friday. The business’s fifty day moving average is $226.25 and its 200 day moving average is $227.24. Biogen has a fifty-two week low of $189.44 and a fifty-two week high of $281.68. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10. The company has a market capitalization of $34.48 billion, a PE ratio of 29.56, a price-to-earnings-growth ratio of 2.30 and a beta of -0.04.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The business’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.40 EPS. Sell-side analysts predict that Biogen will post 15.63 earnings per share for the current year.

About Biogen

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.