Biogen Inc. (NASDAQ:BIIB) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Biogen Inc. (NASDAQ:BIIB) have been given an average rating of “Moderate Buy” by the twenty-seven research firms that are currently covering the company, MarketBeat.com reports. Nine analysts have rated the stock with a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $293.88.

BIIB has been the subject of a number of research analyst reports. William Blair reissued an “outperform” rating on shares of Biogen in a research report on Monday, April 1st. Wells Fargo & Company downgraded Biogen from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $315.00 to $240.00 in a research note on Wednesday, February 14th. Robert W. Baird dropped their price target on Biogen from $333.00 to $316.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. BTIG Research reissued a “neutral” rating on shares of Biogen in a research report on Sunday, January 7th. Finally, Barclays dropped their target price on shares of Biogen from $215.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Thursday.

Biogen Stock Up 3.2 %

Shares of BIIB stock opened at $208.90 on Tuesday. The company has a market capitalization of $30.42 billion, a price-to-earnings ratio of 26.08, a PEG ratio of 2.06 and a beta of -0.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.26 and a current ratio of 2.10. The stock’s 50 day simple moving average is $212.55 and its 200 day simple moving average is $233.57. Biogen has a twelve month low of $189.44 and a twelve month high of $319.76.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $3.40 earnings per share. As a group, research analysts predict that Biogen will post 15.55 EPS for the current year.

Insider Buying and Selling at Biogen

In related news, Director Eric K. Rowinsky acquired 455 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was bought at an average cost of $222.54 per share, with a total value of $101,255.70. Following the completion of the acquisition, the director now owns 20,629 shares in the company, valued at $4,590,777.66. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Eric K. Rowinsky acquired 455 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were purchased at an average cost of $222.54 per share, with a total value of $101,255.70. Following the completion of the purchase, the director now owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Priya Singhal sold 262 shares of Biogen stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the transaction, the insider now owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The disclosure for this sale can be found here. Insiders have sold 882 shares of company stock worth $202,030 over the last three months. Company insiders own 0.60% of the company’s stock.

Institutional Trading of Biogen

Large investors have recently made changes to their positions in the business. Stratos Wealth Partners LTD. lifted its position in Biogen by 1.1% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 4,032 shares of the biotechnology company’s stock worth $1,036,000 after buying an additional 42 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Biogen by 2.3% during the third quarter. Sequoia Financial Advisors LLC now owns 2,043 shares of the biotechnology company’s stock valued at $525,000 after purchasing an additional 45 shares during the last quarter. PAX Financial Group LLC increased its holdings in shares of Biogen by 2.9% in the third quarter. PAX Financial Group LLC now owns 1,577 shares of the biotechnology company’s stock valued at $405,000 after purchasing an additional 45 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its position in Biogen by 2.4% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,955 shares of the biotechnology company’s stock worth $502,000 after purchasing an additional 45 shares during the last quarter. Finally, Ballentine Partners LLC lifted its holdings in Biogen by 3.2% during the 3rd quarter. Ballentine Partners LLC now owns 1,528 shares of the biotechnology company’s stock worth $393,000 after buying an additional 48 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

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.