Biogen Inc. (NASDAQ:BIIB) Given Consensus Recommendation of “Hold” by Analysts

Shares of Biogen Inc. (NASDAQ:BIIB) have been given an average rating of “Hold” by the thirty-two research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, twenty have given a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $180.0385.

Several analysts have recently commented on the stock. Morgan Stanley reduced their target price on shares of Biogen from $146.00 to $144.00 and set an “equal weight” rating for the company in a research note on Friday, August 1st. Wall Street Zen upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, September 28th. Piper Sandler boosted their target price on Biogen from $115.00 to $118.00 and gave the stock a “neutral” rating in a research report on Friday, September 12th. Royal Bank Of Canada increased their target price on Biogen from $208.00 to $219.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Finally, Truist Financial assumed coverage on Biogen in a research note on Monday, July 21st. They issued a “hold” rating and a $142.00 price target on the stock.

Insider Activity at Biogen

In other Biogen news, insider Priya Singhal sold 517 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total transaction of $69,045.35. Following the sale, the insider directly owned 5,772 shares in the company, valued at approximately $770,850.60. The trade was a 8.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Biogen in the second quarter valued at about $284,358,000. AQR Capital Management LLC increased its stake in Biogen by 153.6% in the 1st quarter. AQR Capital Management LLC now owns 1,368,842 shares of the biotechnology company’s stock valued at $187,258,000 after purchasing an additional 829,150 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in Biogen by 1,663.4% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 780,567 shares of the biotechnology company’s stock worth $106,813,000 after purchasing an additional 736,301 shares during the last quarter. Orion Porfolio Solutions LLC boosted its position in Biogen by 6,828.4% during the second quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company’s stock worth $64,965,000 after purchasing an additional 509,809 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Biogen by 190.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 624,371 shares of the biotechnology company’s stock valued at $78,415,000 after purchasing an additional 409,591 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Trading Down 3.6%

Shares of BIIB stock opened at $154.05 on Tuesday. The company has a market capitalization of $22.59 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 1.26 and a beta of 0.13. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $138.51 and its two-hundred day moving average is $130.84. Biogen has a twelve month low of $110.04 and a twelve month high of $194.13.

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