Analysts Set Biogen Inc. (NASDAQ:BIIB) Price Target at $295.58

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

BIIB has been the subject of several analyst reports. Mizuho lowered their price target on shares of Biogen from $355.00 to $277.00 and set a “buy” rating for the company in a report on Thursday, February 22nd. Truist Financial reissued a “buy” rating and set a $340.00 target price on shares of Biogen in a research note on Monday, March 25th. JPMorgan Chase & Co. decreased their price target on Biogen from $270.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. Robert W. Baird dropped their price objective on Biogen from $333.00 to $316.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. Finally, Piper Sandler decreased their target price on Biogen from $350.00 to $325.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th.

Biogen Stock Performance

Shares of Biogen stock opened at $215.50 on Tuesday. The stock has a market cap of $31.38 billion, a price-to-earnings ratio of 26.90, a P/E/G ratio of 2.13 and a beta of -0.02. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41. Biogen has a twelve month low of $189.44 and a twelve month high of $319.76. The company’s fifty day moving average is $212.48 and its 200 day moving average is $233.02.

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. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the company posted $3.40 EPS. The business’s revenue was down 7.0% on a year-over-year basis. Sell-side analysts forecast that Biogen will post 15.57 EPS for the current year.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the transaction, the insider now owns 4,886 shares in the company, valued at $1,080,929.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Eric K. Rowinsky acquired 455 shares of the business’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 acquisition, the director now directly owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Priya Singhal sold 262 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the sale, 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. In the last ninety days, insiders sold 882 shares of company stock valued at $202,030. Corporate insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Biogen

A number of institutional investors have recently added to or reduced their stakes in BIIB. Principal Financial Group Inc. grew its holdings in shares of Biogen by 1.3% in the first quarter. Principal Financial Group Inc. now owns 166,602 shares of the biotechnology company’s stock valued at $35,924,000 after acquiring an additional 2,069 shares in the last quarter. RWA Wealth Partners LLC boosted its position in Biogen by 2.2% in the first quarter. RWA Wealth Partners LLC now owns 3,089 shares of the biotechnology company’s stock worth $666,000 after purchasing an additional 67 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Biogen by 60.7% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 30,584 shares of the biotechnology company’s stock valued at $6,595,000 after purchasing an additional 11,557 shares during the period. Pinnacle Associates Ltd. grew its stake in Biogen by 4.5% in the 1st quarter. Pinnacle Associates Ltd. now owns 4,761 shares of the biotechnology company’s stock valued at $1,027,000 after purchasing an additional 204 shares during the period. Finally, Tritonpoint Wealth LLC increased its position in shares of Biogen by 14.7% during the 1st quarter. Tritonpoint Wealth LLC now owns 2,321 shares of the biotechnology company’s stock valued at $521,000 after purchasing an additional 298 shares during the last quarter. 87.93% of the stock is owned by institutional investors.

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.