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Do Analysts See Any Upside for Biogen Stock?

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Dec. 14 2018, Updated 7:31 a.m. ET

Analysts’ recommendations

Of the 29 analysts covering Biogen (BIIB), 20 have given it “buy” or higher ratings, and nine have given it “hold” ratings.

Analysts’ mean rating for Biogen stock is 2.03, and their target price is $388.35, implying a potential 20.4% upside based on its December 12 closing price of $322.61.

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Peers’ ratings

In comparison, peers Johnson & Johnson (JNJ), Eli Lilly and Company (LLY), and Pfizer (PFE) have received mean ratings of 2.32, 2.44, and 2.72, respectively, from analysts, and they have target prices of $148.11, $114.06, and $44.15, respectively.

Biogen’s current ratio, which shows how effectively it can meet its short-term obligations, is 2.70x. In comparison, Johnson & Johnson’s, Eli Lilly’s, and Pfizer’s current ratios are 1.70x, 1.90x, and 1.40x, respectively.

Stock performance

After rising from $257.65 on April 6 to a high of $388.67 on July 25, Biogen stock corrected to $298.47 on October 25. Since then, buying interest has increased, and the stock has recovered to $322.6.

Biogen’s long-term debt-to-equity ratio is 0.43x, whereas peers Johnson & Johnson, Eli Lilly, and Pfizer have debt-to-equity ratios of 0.46x, 0.89x, and 0.47x, respectively.

In 2018 and 2019, Biogen’s free cash flows are expected to be $4.58 billion and $5.35 billion, respectively, compared to $2.83 billion in 2017. Its price-to-free cash flow ratio is 11.54x, while Johnson & Johnson’s, Eli Lilly’s, and Pfizer’s ratios are 43.35x, 54.37x, and 26.81x, respectively.

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