Biogen Inc. (BIIB) Receives $344.25 Consensus Price Target from Brokerages

Shares of Biogen Inc. (NASDAQ:BIIB) have received an average rating of “Buy” from the thirty-three analysts that are presently covering the firm, Marketbeat.com reports. Twelve equities research analysts have rated the stock with a hold recommendation, nineteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $344.25.

Several equities research analysts have commented on BIIB shares. Vetr cut shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 price target on the stock. in a research report on Tuesday, August 29th. ValuEngine cut shares of Biogen from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Robert W. Baird reissued a “hold” rating and set a $290.00 price target on shares of Biogen in a research report on Friday, August 25th. SunTrust Banks, Inc. reissued a “buy” rating and set a $354.00 price target on shares of Biogen in a research report on Tuesday, October 24th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $319.00 target price (up from $274.00) on shares of Biogen in a report on Wednesday, September 13th.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Iguana Healthcare Management LLC lifted its stake in Biogen by 166.7% in the 3rd quarter. Iguana Healthcare Management LLC now owns 20,000 shares of the biotechnology company’s stock valued at $6,262,000 after purchasing an additional 12,500 shares during the last quarter. Americafirst Capital Management LLC bought a new position in Biogen in the 3rd quarter valued at approximately $825,000. Moors & Cabot Inc. bought a new position in Biogen in the 3rd quarter valued at approximately $228,000. Cypress Capital Group lifted its stake in Biogen by 83.1% in the 3rd quarter. Cypress Capital Group now owns 1,408 shares of the biotechnology company’s stock valued at $441,000 after purchasing an additional 639 shares during the last quarter. Finally, Belpointe Asset Management LLC bought a new position in Biogen in the 3rd quarter valued at approximately $1,154,000. Institutional investors and hedge funds own 88.28% of the company’s stock.

Shares of Biogen (NASDAQ BIIB) traded down $0.01 during midday trading on Thursday, reaching $313.97. 826,600 shares of the company were exchanged, compared to its average volume of 1,494,913. The firm has a market cap of $66,397.40, a price-to-earnings ratio of 14.54, a PEG ratio of 1.96 and a beta of 0.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.90 and a current ratio of 2.19. Biogen has a 12-month low of $244.28 and a 12-month high of $348.84.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, topping the consensus estimate of $5.70 by $0.61. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the previous year, the firm posted $5.19 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. analysts expect that Biogen will post 22.03 earnings per share for the current fiscal year.

About Biogen

Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).

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