Analysts’ Weekly Ratings Changes for Biogen (BIIB)

Several brokerages have updated their recommendations and price targets on shares of Biogen (NASDAQ: BIIB) in the last few weeks:

• 11/4/2024 – Biogen had its price target lowered by analysts at JPMorgan Chase & Co. from $220.00 to $210.00. They now have a “neutral” rating on the stock.
• 10/31/2024 – Biogen had its price target lowered by analysts at Oppenheimer Holdings Inc. from $270.00 to $255.00. They now have an “outperform” rating on the stock.
• 10/31/2024 – Biogen had its price target lowered by analysts at Barclays PLC from $190.00 to $180.00. They now have an “equal weight” rating on the stock.
• 10/31/2024 – Biogen was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating. They now have a $204.00 price target on the stock, down previously from $285.00.
• 10/31/2024 – Biogen had its price target lowered by analysts at TD Cowen from $300.00 to $275.00. They now have a “buy” rating on the stock.
• 10/31/2024 – Biogen had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $300.00 price target on the stock.
• 10/30/2024 – Biogen had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $270.00 price target on the stock.
• 10/17/2024 – Biogen had its price target lowered by analysts at BMO Capital Markets from $260.00 to $230.00. They now have an “outperform” rating on the stock.
• 10/10/2024 – Biogen had its “market perform” rating reaffirmed by analysts at Raymond James.
• 10/4/2024 – Biogen had its price target lowered by analysts at Royal Bank of Canada from $292.00 to $269.00. They now have an “outperform” rating on the stock.
• 10/3/2024 – Biogen had its price target lowered by analysts at UBS Group AG from $234.00 to $202.00. They now have a “neutral” rating on the stock.
• 9/24/2024 – Biogen had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $285.00 price target on the stock.
• 9/23/2024 – Biogen had its price target lowered by analysts at Wedbush from $210.00 to $205.00. They now have a “neutral” rating on the stock.
• 9/19/2024 – Biogen had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $292.00 price target on the stock.

Biogen Trading Down 0.6 %

Shares of Biogen stock opened at $172.03 on Tuesday. The firm has a market cap of $25.07 billion, a PE ratio of 15.54, a P/E/G ratio of 1.64 and a beta of -0.06. The stock has a fifty day moving average price of $189.71 and a 200-day moving average price of $208.87. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. Biogen Inc. has a 1 year low of $170.71 and a 1 year high of $268.30.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the prior year, the company posted $4.36 EPS. Biogen’s revenue was down 2.5% compared to the same quarter last year. Equities research analysts anticipate that Biogen Inc. will post 16.4 EPS for the current year.

Insider Activity at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the transaction, the insider now directly owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Biogen

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Biogen by 15.0% during the 1st quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock worth $3,573,075,000 after acquiring an additional 2,163,068 shares during the period. International Assets Investment Management LLC increased its stake in shares of Biogen by 19,722.9% in the 3rd quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock worth $695,870,000 after acquiring an additional 357,181 shares in the last quarter. Mizuho Securities USA LLC lifted its position in Biogen by 2,715.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock valued at $61,253,000 after acquiring an additional 304,778 shares during the period. RA Capital Management L.P. grew its holdings in Biogen by 39.0% in the first quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock worth $159,723,000 after purchasing an additional 207,835 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Biogen by 27.2% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 570,533 shares of the biotechnology company’s stock valued at $123,024,000 after purchasing an additional 122,101 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

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.