Mizuho Increases Biogen (NASDAQ:BIIB) Price Target to $177.00

Biogen (NASDAQ:BIIB) had its target price upped by Mizuho from $169.00 to $177.00 in a research note issued to investors on Monday,MarketScreener reports. The firm currently has an “outperform” rating on the biotechnology company’s stock. Mizuho’s price target would indicate a potential upside of 18.53% from the company’s current price.

Several other brokerages have also recently issued reports on BIIB. Wall Street Zen cut Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Morgan Stanley boosted their price target on Biogen from $144.00 to $149.00 and gave the company an “equal weight” rating in a research report on Friday, October 10th. Robert W. Baird dropped their price target on Biogen from $255.00 to $250.00 in a research report on Friday, October 31st. Sanford C. Bernstein boosted their price target on Biogen from $155.00 to $157.00 and gave the company a “market perform” rating in a research report on Monday. Finally, Royal Bank Of Canada dropped their price target on Biogen from $217.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. Nine analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Biogen has an average rating of “Hold” and an average price target of $176.42.

Biogen Stock Down 1.4%

NASDAQ:BIIB opened at $149.33 on Monday. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36. The stock’s fifty day moving average is $144.77 and its two-hundred day moving average is $134.22. Biogen has a 52 week low of $110.04 and a 52 week high of $179.20. The stock has a market capitalization of $21.89 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 1.17 and a beta of 0.13.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $3.89 by $0.92. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.34 billion. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The company’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.08 earnings per share. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. Research analysts anticipate that Biogen will post 15.83 EPS for the current year.

Insiders Place Their Bets

In other Biogen news, insider Priya Singhal sold 517 shares of the business’s 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 directly owned 5,772 shares in the company, valued at approximately $770,850.60. The trade was a 8.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BIIB. Norges Bank acquired a new position in Biogen in the 2nd quarter valued at $284,358,000. AQR Capital Management LLC increased its holdings in shares of Biogen by 153.6% during the 1st quarter. AQR Capital Management LLC now owns 1,368,842 shares of the biotechnology company’s stock worth $187,258,000 after buying an additional 829,150 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Biogen by 1,663.4% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 780,567 shares of the biotechnology company’s stock worth $106,813,000 after buying an additional 736,301 shares during the last quarter. Orion Porfolio Solutions LLC increased its holdings in shares of Biogen by 6,828.4% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company’s stock worth $64,965,000 after buying an additional 509,809 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Biogen by 190.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 624,371 shares of the biotechnology company’s stock worth $78,415,000 after buying an additional 409,591 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

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.