Analysts Recommend 'Hold' for Biogen Inc. Shares

Biogen Inc. (NASDAQ:BIIB) has received an average rating of "Hold" from the 29 brokerages currently analyzing the company, according to Marketbeat. Out of these, 16 analysts suggest holding the stock, while 13 have issued a buy recommendation.

The consensus target price for Biogen shares among analysts who have recently provided forecasts is $242.68. This illustrates some optimism among analysts, even as they maintain a cautious stance overall.

Analyst Ratings and Price Targets

Different financial research firms have recently expressed their views on Biogen. Barclays revised its price target down from $190.00 to $180.00, maintaining an "equal weight" rating for the company as of October 31st. On December 9th, Jefferies Financial Group downgraded Biogen from a "buy" to a "hold," reducing its price target from $250.00 to $180.00.

Cantor Fitzgerald, on the other hand, has kept an "overweight" rating and set a price target of $292.00 in a note dated September 9th. Stifel Nicolaus also downgraded Biogen, moving from a "buy" rating to a "hold" while establishing a target price of $175.00 on December 16th. Lastly, Wolfe Research initiated coverage with a "peer perform" rating on November 15th.

Institutional Investment Changes

In recent months, several institutional investors have adjusted their positions in Biogen stock. UMB Bank n.a. significantly increased its holdings by 139.8% during the second quarter, acquiring a total of 247 shares valued at approximately $57,000.

Similarly, Signaturefd LLC raised its stake by 65.9%, resulting in ownership of 3,298 shares, now worth $765,000 after purchasing an additional 1,310 shares during the same period. Moreover, International Assets Investment Management LLC raised its holdings by 5.8%, owning 1,811 shares valued at $420,000. Intact Investment Management Inc. also raised its stake by 17.7% to 3,530 shares, now calculated at $818,000.

Lastly, Rothschild Investment LLC made a new investment in Biogen during the second quarter, valued at roughly $60,000. Notably, institutional investors collectively hold about 87.93% of Biogen's shares.

Current Stock Performance

Biogen's stock increased by 0.9% recently, opening at $151.31. The company's stock has seen a 12-month low of $145.07 and a high of $268.30. Key financial ratios include a current ratio of 1.26, a quick ratio of 0.80, and a debt-to-equity ratio of 0.28, with a market capitalization of $22.05 billion. Biogen has a price-to-earnings (P/E) ratio of 13.67 and a P/E to growth (P/E/G) ratio of 1.83.

Biogen released its latest earnings results on October 30th, reporting earnings per share (EPS) of $4.08, surpassing expectations of $3.77 by $0.31. The company's revenue for the quarter was $2.47 billion, exceeding predictions of $2.43 billion, although it reflected a decrease of 2.5% compared to the previous year. Analysts project that Biogen's EPS will be around 16.43 for the current fiscal year.

About Biogen

Biogen Inc. specializes in discovering, developing, manufacturing, and delivering therapies aimed at treating neurological and neurodegenerative diseases. The company operates across the United States, Europe, and Asia.

Biogen's product offerings include treatments for multiple sclerosis such as TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA. It also develops SPINRAZA for spinal muscular atrophy and ADUHELM for Alzheimer's disease, along with biosimilars like BENEPALI, IMRALDI, and FLIXABI.

Biogen, Stock, Investment