Biogen (NASDAQ:BIIB) Given “Outperform” Rating at William Blair

William Blair reissued their outperform rating on shares of Biogen (NASDAQ:BIIB) in a report released on Wednesday,RTT News reports.

Several other brokerages have also recently commented on BIIB. Wedbush reiterated a “neutral” rating and issued a $121.00 target price on shares of Biogen in a report on Thursday, June 12th. Royal Bank Of Canada upped their target price on Biogen from $208.00 to $219.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Wall Street Zen cut Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 20th. Piper Sandler upped their target price on Biogen from $115.00 to $118.00 and gave the company a “neutral” rating in a report on Friday, September 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a report on Wednesday. Ten equities research analysts have rated the stock with a Buy rating and twenty-one have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $181.65.

Biogen Stock Performance

Biogen stock opened at $137.67 on Wednesday. The business has a 50 day moving average of $135.59 and a 200-day moving average of $130.75. Biogen has a 1 year low of $110.04 and a 1 year high of $197.70. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79. The company has a market capitalization of $20.19 billion, a P/E ratio of 13.16, a P/E/G ratio of 1.10 and a beta of 0.11.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the prior year, the firm posted $5.28 earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. On average, equities research analysts predict that Biogen will post 15.83 earnings per share for the current year.

Insider Buying and Selling

In other Biogen news, insider Rachid Izzar sold 2,223 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Priya Singhal sold 517 shares of the stock in a transaction 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 completion of the transaction, the insider owned 5,772 shares in the company, valued at approximately $770,850.60. This represents a 8.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Biogen

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

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.