Biogen (NASDAQ:BIIB) Trading Up 3.5% – Still a Buy?

Biogen Inc. (NASDAQ:BIIB) shares traded up 3.5% during mid-day trading on Tuesday . The company traded as high as $146.42 and last traded at $146.67. 368,470 shares traded hands during trading, a decline of 74% from the average session volume of 1,439,676 shares. The stock had previously closed at $141.71.

Wall Street Analysts Forecast Growth

BIIB has been the topic of several recent analyst reports. Scotiabank reduced their price objective on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 13th. Citigroup reduced their price target on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Jefferies Financial Group downgraded shares of Biogen from a “buy” rating to a “hold” rating and dropped their price objective for the company from $250.00 to $180.00 in a report on Monday, December 9th. JPMorgan Chase & Co. reduced their target price on Biogen from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Finally, Truist Financial decreased their target price on Biogen from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $213.33.

Biogen Stock Up 0.6 %

The firm has a market cap of $20.87 billion, a P/E ratio of 12.73, a P/E/G ratio of 1.51 and a beta of -0.08. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $144.28 and a 200-day moving average price of $167.83.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. On average, equities analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Biogen by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 16,748,875 shares of the biotechnology company’s stock valued at $2,561,238,000 after acquiring an additional 70,368 shares in the last quarter. State Street Corp boosted its position in shares of Biogen by 3.5% in the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after purchasing an additional 248,942 shares in the last quarter. Geode Capital Management LLC grew its stake in Biogen by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,695,476 shares of the biotechnology company’s stock worth $563,709,000 after buying an additional 82,456 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Biogen by 13,574.7% during the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after acquiring an additional 2,648,024 shares in the last quarter. Finally, Norges Bank acquired a new position in Biogen during the 4th quarter valued at approximately $355,569,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Company Profile

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.