Biogen Inc. (NASDAQ:BIIB) Receives $185.74 Average Target Price from Analysts

Shares of Biogen Inc. (NASDAQ:BIIB) have been given a consensus rating of “Hold” by the thirty-one analysts that are covering the firm, MarketBeat Ratings reports. Twenty-one analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $181.6538.

BIIB has been the subject of a number of analyst reports. Truist Financial initiated coverage on Biogen in a report on Monday, July 21st. They issued a “hold” rating and a $142.00 price target for the company. Wall Street Zen upgraded Biogen from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 5th. Citigroup upped their target price on Biogen from $125.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Piper Sandler upped their target price on Biogen from $115.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, August 14th. Finally, Royal Bank Of Canada upped their target price on Biogen from $208.00 to $219.00 and gave the company an “outperform” rating in a research note on Friday, August 1st.

Insider Transactions at Biogen

In related news, insider Rachid Izzar sold 2,223 shares of the stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total value of $300,105.00. Following the completion of the transaction, the insider owned 6,330 shares of the company’s stock, valued at approximately $854,550. This represents a 25.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Priya Singhal sold 517 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total value of $69,045.35. Following the transaction, the insider directly owned 5,772 shares in the company, valued at approximately $770,850.60. This represents a 8.22% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Institutional Trading of Biogen

Several large investors have recently added to or reduced their stakes in BIIB. Sumitomo Mitsui Trust Group Inc. raised its holdings in Biogen by 6.5% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 416,960 shares of the biotechnology company’s stock valued at $57,057,000 after buying an additional 25,464 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in Biogen by 5.5% during the first quarter. Asset Management One Co. Ltd. now owns 61,420 shares of the biotechnology company’s stock valued at $8,405,000 after purchasing an additional 3,194 shares in the last quarter. Point72 Europe London LLP bought a new position in shares of Biogen in the first quarter valued at approximately $11,286,000. Motley Fool Asset Management LLC raised its stake in shares of Biogen by 64.7% in the first quarter. Motley Fool Asset Management LLC now owns 6,809 shares of the biotechnology company’s stock valued at $932,000 after acquiring an additional 2,676 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Biogen by 3.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 44,796 shares of the biotechnology company’s stock worth $6,130,000 after purchasing an additional 1,336 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Up 1.6%

Biogen stock opened at $143.60 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79. Biogen has a 1-year low of $110.04 and a 1-year high of $204.18. The company has a market cap of $21.05 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 1.11 and a beta of 0.11. The stock’s 50 day moving average price is $133.24 and its 200 day moving average price is $130.69.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share for the quarter, beating analysts’ consensus estimates of $3.93 by $1.54. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.32 billion. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business earned $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. On average, sell-side analysts predict that Biogen will post 15.83 EPS for the current fiscal 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.