Biogen Inc. (NASDAQ:BIIB – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the twenty-eight brokerages that are presently covering the company, Marketbeat.com reports. Thirteen investment analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $257.20.
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A number of equities research analysts recently weighed in on BIIB shares. Royal Bank of Canada decreased their price objective on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a report on Friday, October 4th. HC Wainwright reissued a “buy” rating and issued a $300.00 target price on shares of Biogen in a research report on Thursday, October 31st. Citigroup assumed coverage on Biogen in a research report on Thursday, November 14th. They set a “neutral” rating and a $190.00 price target for the company. TD Cowen reduced their target price on Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $292.00 price objective on shares of Biogen in a report on Monday, September 9th.
NASDAQ BIIB opened at $160.85 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. Biogen has a twelve month low of $153.62 and a twelve month high of $268.30. The business has a 50-day moving average price of $176.56 and a 200-day moving average price of $201.80. The firm has a market cap of $23.44 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 1.55 and a beta of -0.08.
Biogen (NASDAQ:BIIB – Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.31. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the prior year, the company posted $4.36 EPS. As a group, equities research analysts predict that Biogen will post 16.45 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its holdings in shares of Biogen by 19,722.9% during the third quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock valued at $695,870,000 after acquiring an additional 357,181 shares during the period. Mizuho Securities USA LLC boosted its stake in Biogen by 2,715.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock valued at $61,253,000 after purchasing an additional 304,778 shares during the period. Erste Asset Management GmbH bought a new position in Biogen in the 3rd quarter worth about $55,826,000. State Street Corp increased its stake in shares of Biogen by 3.5% in the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after purchasing an additional 248,942 shares during the period. Finally, Two Sigma Advisers LP raised its holdings in shares of Biogen by 122.1% during the third quarter. Two Sigma Advisers LP now owns 427,600 shares of the biotechnology company’s stock valued at $82,886,000 after buying an additional 235,100 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.
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.
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