Brokerages Set Biogen Inc. (NASDAQ:BIIB) Price Target at $195.85

Shares of Biogen Inc. (NASDAQ:BIIB) have earned a consensus recommendation of “Hold” from the thirty-two brokerages that are currently covering the stock, MarketBeat reports. Twenty research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $191.30.

Several equities analysts have commented on the company. Truist Financial cut their price objective on Biogen from $210.00 to $199.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. Hsbc Global Res lowered shares of Biogen from a “strong-buy” rating to a “hold” rating in a report on Monday, April 28th. Wells Fargo & Company dropped their target price on shares of Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 13th. Canaccord Genuity Group reduced their target price on shares of Biogen from $265.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Finally, William Blair reissued an “outperform” rating on shares of Biogen in a research note on Monday, January 13th.

Insider Activity

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the transaction, the director now directly owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On Biogen

Several institutional investors have recently made changes to their positions in BIIB. Ontario Teachers Pension Plan Board acquired a new position in shares of Biogen in the first quarter worth about $1,485,000. Charles Schwab Investment Management Inc. boosted its position in Biogen by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,019,219 shares of the biotechnology company’s stock worth $139,470,000 after purchasing an additional 47,956 shares in the last quarter. ASR Vermogensbeheer N.V. purchased a new position in Biogen during the first quarter worth approximately $218,000. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Biogen in the first quarter valued at approximately $27,000. Finally, Roberts Glore & Co. Inc. IL raised its stake in shares of Biogen by 17.7% during the 1st quarter. Roberts Glore & Co. Inc. IL now owns 4,163 shares of the biotechnology company’s stock worth $570,000 after buying an additional 627 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Price Performance

BIIB stock opened at $118.20 on Friday. The company has a fifty day simple moving average of $128.33 and a two-hundred day simple moving average of $144.65. Biogen has a 52 week low of $110.04 and a 52 week high of $238.00. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $17.32 billion, a P/E ratio of 10.56, a price-to-earnings-growth ratio of 1.51 and a beta of 0.12.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.26 by ($0.24). The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.25 billion. Biogen had a return on equity of 14.98% and a net margin of 16.87%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.67 earnings per share. Analysts anticipate that Biogen will post 15.83 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.