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

Biogen Inc. (NASDAQ:BIIB) has earned a consensus recommendation of “Moderate Buy” from the twenty-seven brokerages that are covering the stock, MarketBeat.com reports. Nine research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $295.58.

Several research firms have issued reports on BIIB. Cantor Fitzgerald reissued an “overweight” rating and set a $311.00 price target on shares of Biogen in a report on Tuesday, February 20th. Oppenheimer lowered their price objective on Biogen from $290.00 to $270.00 and set an “outperform” rating on the stock in a research report on Friday. StockNews.com downgraded Biogen from a “buy” rating to a “hold” rating in a research report on Tuesday, February 20th. William Blair restated an “outperform” rating on shares of Biogen in a research report on Monday, April 1st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $364.00 price objective on shares of Biogen in a research report on Tuesday, March 5th.

Biogen Stock Performance

NASDAQ:BIIB opened at $194.11 on Tuesday. The stock has a 50-day simple moving average of $214.22 and a two-hundred day simple moving average of $235.11. Biogen has a 52-week low of $189.44 and a 52-week high of $319.76. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.26 and a current ratio of 2.00. The firm has a market capitalization of $28.22 billion, a PE ratio of 24.32, a P/E/G ratio of 1.85 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.18 by ($0.23). Biogen had a net margin of 11.81% and a return on equity of 14.91%. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the prior year, the firm posted $4.05 EPS. Analysts forecast that Biogen will post 15.48 EPS for the current year.

Insider Activity

In other news, insider Priya Singhal sold 419 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $239.45, for a total transaction of $100,329.55. Following the transaction, the insider now owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Priya Singhal sold 419 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $239.45, for a total value of $100,329.55. Following the transaction, the insider now owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Eric K. Rowinsky acquired 455 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was purchased at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the purchase, the director now owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 882 shares of company stock valued at $202,030. 0.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Stratos Wealth Partners LTD. grew its stake in Biogen by 1.1% in the third quarter. Stratos Wealth Partners LTD. now owns 4,032 shares of the biotechnology company’s stock worth $1,036,000 after purchasing an additional 42 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in Biogen by 2.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,043 shares of the biotechnology company’s stock valued at $525,000 after acquiring an additional 45 shares in the last quarter. PAX Financial Group LLC boosted its position in Biogen by 2.9% during the 3rd quarter. PAX Financial Group LLC now owns 1,577 shares of the biotechnology company’s stock valued at $405,000 after acquiring an additional 45 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its position in Biogen by 2.4% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,955 shares of the biotechnology company’s stock valued at $502,000 after acquiring an additional 45 shares in the last quarter. Finally, Ballentine Partners LLC boosted its position in Biogen by 3.2% during the 3rd quarter. Ballentine Partners LLC now owns 1,528 shares of the biotechnology company’s stock valued at $393,000 after acquiring an additional 48 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

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.