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

Biogen Inc. (NASDAQ:BIIBGet Free Report) has been assigned an average rating of “Moderate Buy” from the twenty-six ratings firms that are currently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $317.52.

BIIB has been the subject of a number of research analyst reports. BMO Capital Markets reduced their price objective on Biogen from $314.00 to $295.00 and set an “outperform” rating for the company in a report on Thursday, November 9th. William Blair restated an “outperform” rating on shares of Biogen in a report on Wednesday, January 10th. Stifel Nicolaus reduced their price objective on Biogen from $315.00 to $287.00 and set a “buy” rating for the company in a report on Thursday, December 14th. Morgan Stanley boosted their price objective on Biogen from $361.00 to $373.00 and gave the stock an “overweight” rating in a report on Friday, November 10th. Finally, UBS Group cut Biogen from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $311.00 to $276.00 in a report on Wednesday, January 24th.

Get Our Latest Stock Report on BIIB

Biogen Price Performance

NASDAQ:BIIB opened at $244.74 on Thursday. Biogen has a 52-week low of $220.86 and a 52-week high of $319.76. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.09 and a current ratio of 1.68. The company has a market cap of $35.46 billion and a P/E ratio of 24.33. The stock’s 50-day simple moving average is $249.84 and its 200 day simple moving average is $252.31.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 110 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $248.00, for a total value of $27,280.00. Following the sale, the insider now owns 3,464 shares of the company’s stock, valued at $859,072. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.60% of the company’s stock.

Institutional Investors Weigh In On Biogen

Institutional investors and hedge funds have recently made changes to their positions in the business. Horizon Bancorp Inc. IN increased its stake in Biogen by 128.2% in the 2nd quarter. Horizon Bancorp Inc. IN now owns 89 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 50 shares during the last quarter. Altshuler Shaham Ltd purchased a new stake in Biogen in the 4th quarter valued at about $25,000. OFI Invest Asset Management purchased a new stake in Biogen in the 3rd quarter valued at about $26,000. Gladius Capital Management LP purchased a new stake in Biogen in the 3rd quarter valued at about $29,000. Finally, Hexagon Capital Partners LLC increased its stake in Biogen by 76.1% in the 4th quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 51 shares during the last quarter. Institutional investors and hedge funds own 85.99% of the company’s stock.

About Biogen

(Get Free Report

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 offers 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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Analyst Recommendations for Biogen (NASDAQ:BIIB)

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