Biogen Inc. (NASDAQ:BIIB – Get Free Report) has been assigned an average rating of “Moderate Buy” from the thirty-three research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation, twenty-one have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $252.34.
A number of equities research analysts have recently commented on BIIB shares. Needham & Company LLC raised their price target on shares of Biogen from $256.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Zacks Research upgraded Biogen from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. Barclays upped their target price on shares of Biogen from $200.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 28th. UBS Group lifted their target price on shares of Biogen from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Finally, Morgan Stanley increased their target price on Biogen from $231.00 to $238.00 and gave the stock an “equal weight” rating in a report on Thursday, October 29th.
Hedge Funds Weigh In On Biogen
Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Biogen in the 2nd quarter worth $3,453,878,000. Primecap Management Co. CA acquired a new position in Biogen during the 2nd quarter valued at approximately $3,274,304,000. Wellington Management Group LLP raised its holdings in shares of Biogen by 5.3% during the second quarter. Wellington Management Group LLP now owns 3,117,469 shares of the biotechnology company’s stock worth $673,560,000 after acquiring an additional 155,828 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Biogen by 1,524.5% during the third quarter. Russell Investments Group Ltd. now owns 2,175,055 shares of the biotechnology company’s stock worth $491,301,000 after buying an additional 2,041,161 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in shares of Biogen by 139.4% during the 3rd quarter. Pictet Asset Management Holding SA now owns 2,039,056 shares of the biotechnology company’s stock worth $460,582,000 after acquiring an additional 1,187,237 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.
Biogen Price Performance
BIIB stock opened at $248.35 on Wednesday. The stock has a 50-day moving average price of $230.01 and a two-hundred day moving average price of $203.04. The company has a market cap of $36.71 billion, a PE ratio of 106.13, a price-to-earnings-growth ratio of 2.82 and a beta of 0.10. The company has a current ratio of 1.95, a quick ratio of 1.37 and a debt-to-equity ratio of 0.39. Biogen has a 12-month low of $151.83 and a 12-month high of $258.78.
Biogen (NASDAQ:BIIB – Get Free Report) last released its earnings results on Wednesday, October 28th. The biotechnology company reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.63. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.63 billion. Biogen had a return on equity of 9.38% and a net margin of 3.37%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the business earned $4.81 earnings per share. As a group, research analysts predict that Biogen will post 12.45 EPS for the current year.
About Biogen
Biogen is a biotechnology company focused on developing and commercializing medicines for neurological and rare diseases. Its areas of focus include multiple sclerosis, Alzheimer’s disease, spinal muscular atrophy and Friedreich’s ataxia.
Its products include multiple sclerosis treatments such as Tysabri, Tecfidera and Vumerity, and Skyclarys for Friedreich’s ataxia. Biogen shares rights to several medicines with other companies, including Leqembi for Alzheimer’s disease with Eisai and Spinraza for spinal muscular atrophy with Ionis Pharmaceuticals.
Founded in 1978, Biogen is headquartered in Cambridge, Massachusetts, and serves patients and healthcare providers in the United States and international markets.
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