Biogen (NASDAQ:BIIB) Price Target Raised to $190.00 at Wells Fargo & Company

Biogen (NASDAQ:BIIB) had its price objective increased by Wells Fargo & Company from $155.00 to $190.00 in a research note published on Wednesday morning, MarketBeat Ratings reports. Wells Fargo & Company currently has an equal weight rating on the biotechnology company’s stock.

A number of other analysts have also recently weighed in on BIIB. Tudor Pickering set a $157.00 price objective on Biogen in a research report on Monday, November 3rd. Royal Bank Of Canada cut their price target on Biogen from $217.00 to $210.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Wedbush increased their price target on Biogen from $135.00 to $143.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. HSBC reissued a “reduce” rating and issued a $143.00 price objective (down from $144.00) on shares of Biogen in a research note on Wednesday. Finally, Stifel Nicolaus upgraded shares of Biogen from a “hold” rating to a “buy” rating and raised their target price for the stock from $144.00 to $202.00 in a research note on Thursday, November 6th. Ten analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $182.20.

Biogen Trading Up 1.0%

BIIB opened at $177.55 on Wednesday. The company has a quick ratio of 2.04, a current ratio of 2.72 and a debt-to-equity ratio of 0.35. The firm has a market cap of $26.05 billion, a price-to-earnings ratio of 16.19, a price-to-earnings-growth ratio of 1.48 and a beta of 0.13. Biogen has a 52 week low of $110.04 and a 52 week high of $185.17. The business’s 50 day moving average is $160.81 and its two-hundred day moving average is $143.18.

Biogen (NASDAQ:BIIB) last announced its earnings results on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $3.89 by $0.92. Biogen had a net margin of 15.98% and a return on equity of 14.13%. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the prior year, the company earned $4.08 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. On average, research analysts predict that Biogen will post 15.83 EPS for the current year.

Hedge Funds Weigh In On Biogen

Several hedge funds have recently added to or reduced their stakes in BIIB. Elevation Point Wealth Partners LLC acquired a new stake in Biogen during the 2nd quarter valued at $25,000. Rothschild Investment LLC grew its position in shares of Biogen by 64.7% in the second quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 88 shares during the period. Accredited Wealth Management LLC lifted its holdings in shares of Biogen by 1,233.3% during the 3rd quarter. Accredited Wealth Management LLC now owns 200 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 185 shares during the period. Zions Bancorporation National Association UT purchased a new stake in Biogen during the first quarter valued at about $29,000. Finally, Concord Wealth Partners grew its stake in Biogen by 100.0% during the second quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock worth $29,000 after buying an additional 114 shares during the period. 87.93% of the stock is currently 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.