Biogen (NASDAQ:BIIB) Lowered to “Buy” Rating by Wall Street Zen

Biogen (NASDAQ:BIIB) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other equities analysts have also commented on the company. HC Wainwright increased their target price on Biogen from $187.00 to $194.00 and gave the company a “buy” rating in a report on Friday, August 1st. Truist Financial assumed coverage on Biogen in a report on Monday, July 21st. They issued a “hold” rating and a $142.00 price objective on the stock. Wedbush restated a “neutral” rating and set a $121.00 target price on shares of Biogen in a research note on Thursday, June 12th. Royal Bank Of Canada upped their price target on Biogen from $208.00 to $219.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Finally, Piper Sandler raised their price objective on shares of Biogen from $115.00 to $118.00 and gave the stock a “neutral” rating in a report on Friday, September 12th. Ten analysts have rated the stock with a Buy rating and twenty-one have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $181.65.

Biogen Stock Down 0.9%

Shares of NASDAQ BIIB opened at $142.50 on Friday. The stock has a market cap of $20.89 billion, a P/E ratio of 13.62, a PEG ratio of 1.13 and a beta of 0.11. The business’s fifty day simple moving average is $135.01 and its 200-day simple moving average is $130.92. Biogen has a 12-month low of $110.04 and a 12-month high of $200.37. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share for the quarter, topping the consensus estimate of $3.93 by $1.54. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the prior year, the business earned $5.28 EPS. Biogen’s revenue was up 7.3% on a year-over-year basis. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. As a group, equities analysts predict that Biogen will post 15.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other Biogen news, insider Rachid Izzar sold 2,223 shares of the company’s stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total transaction of $300,105.00. Following the transaction, the insider directly owned 6,330 shares in the company, valued at approximately $854,550. This represents a 25.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Priya Singhal sold 517 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total transaction of $69,045.35. Following the completion of the transaction, the insider directly owned 5,772 shares of the company’s stock, valued at approximately $770,850.60. This trade represents a 8.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Biogen

A number of institutional investors and hedge funds have recently modified their holdings of BIIB. Elevation Point Wealth Partners LLC acquired a new position in Biogen during the second quarter worth $25,000. Opal Wealth Advisors LLC acquired a new stake in Biogen in the first quarter valued at $26,000. Vision Financial Markets LLC purchased a new position in shares of Biogen in the first quarter valued at $27,000. Greykasell Wealth Strategies Inc. acquired a new position in shares of Biogen during the 1st quarter worth $27,000. Finally, Rothschild Investment LLC raised its stake in shares of Biogen by 64.7% during the 2nd quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock worth $28,000 after buying an additional 88 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

About Biogen

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.