Biogen (NASDAQ:BIIB) Given Hold Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Biogen (NASDAQ:BIIB) in a research report released on Wednesday,Benzinga reports.

Other equities research analysts have also issued research reports about the company. Wall Street Zen lowered Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 20th. Morgan Stanley dropped their price objective on Biogen from $146.00 to $144.00 and set an “equal weight” rating for the company in a research note on Friday, August 1st. Piper Sandler increased their target price on Biogen from $115.00 to $118.00 and gave the stock a “neutral” rating in a research report on Friday, September 12th. Truist Financial initiated coverage on Biogen in a report on Monday, July 21st. They issued a “hold” rating and a $142.00 price target on the stock. Finally, Wedbush restated a “neutral” rating and issued a $121.00 price target on shares of Biogen in a research note on Thursday, June 12th. Ten analysts have rated the stock with a Buy rating and twenty-one have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $181.65.

Biogen Price Performance

NASDAQ BIIB opened at $137.67 on Wednesday. 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 has a 12 month low of $110.04 and a 12 month high of $197.70. The stock has a market cap of $20.19 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 1.10 and a beta of 0.11. The company’s 50 day moving average is $135.59 and its two-hundred day moving average is $130.75.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.93 by $1.54. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.32 billion. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company posted $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. As a group, research analysts anticipate that Biogen will post 15.83 earnings per share for the current year.

Insider Activity at Biogen

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

Hedge Funds Weigh In On Biogen

A number of institutional investors and hedge funds have recently made changes to their positions in BIIB. Opal Wealth Advisors LLC bought a new stake in shares of Biogen in the 1st quarter worth about $26,000. Greykasell Wealth Strategies Inc. purchased a new position in Biogen in the first quarter worth about $27,000. Vision Financial Markets LLC bought a new stake in Biogen during the first quarter worth approximately $27,000. Elevation Point Wealth Partners LLC bought a new stake in Biogen during the second quarter worth approximately $25,000. Finally, Zions Bancorporation National Association UT purchased a new stake in Biogen during the first quarter valued at approximately $29,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

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.