Wedbush Raises Biogen (NASDAQ:BIIB) Price Target to $178.00

Biogen (NASDAQ:BIIB) had its price objective raised by equities researchers at Wedbush from $143.00 to $178.00 in a report released on Friday,MarketScreener reports. The firm currently has a “neutral” rating on the biotechnology company’s stock. Wedbush’s target price would indicate a potential upside of 3.74% from the stock’s previous close.

Several other equities research analysts have also weighed in on the company. Stifel Nicolaus upgraded Biogen from a “hold” rating to a “buy” rating and boosted their target price for the stock from $144.00 to $202.00 in a report on Thursday, November 6th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $225.00 price objective on shares of Biogen in a report on Thursday, January 8th. Wall Street Zen downgraded shares of Biogen from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Hsbc Global Res lowered shares of Biogen from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 10th. Finally, Mizuho upped their price target on shares of Biogen from $177.00 to $207.00 and gave the company an “outperform” rating in a report on Thursday, January 8th. Ten research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Biogen presently has a consensus rating of “Hold” and a consensus target price of $191.85.

Biogen Stock Down 1.3%

Shares of Biogen stock opened at $171.59 on Friday. The stock has a 50-day simple moving average of $175.80 and a 200-day simple moving average of $153.30. Biogen has a 52-week low of $110.04 and a 52-week high of $190.20. The firm has a market cap of $25.17 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 1.43 and a beta of 0.13. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.72 and a quick ratio of 2.04.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.92. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.34 billion. Biogen had a net margin of 15.98% and a return on equity of 14.13%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $4.08 earnings per share. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. On average, equities research analysts expect that Biogen will post 15.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Biogen

A number of institutional investors have recently added to or reduced their stakes in BIIB. Banque Pictet & Cie SA increased its stake in shares of Biogen by 5.5% during the 2nd quarter. Banque Pictet & Cie SA now owns 72,025 shares of the biotechnology company’s stock worth $9,046,000 after purchasing an additional 3,751 shares during the last quarter. KLP Kapitalforvaltning AS boosted its stake in shares of Biogen by 6.7% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 166,577 shares of the biotechnology company’s stock worth $20,920,000 after acquiring an additional 10,500 shares during the period. Generali Investments CEE investicni spolecnost a.s. increased its holdings in shares of Biogen by 43.2% during the 2nd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 38,755 shares of the biotechnology company’s stock worth $4,867,000 after acquiring an additional 11,695 shares during the last quarter. Valeo Financial Advisors LLC acquired a new position in shares of Biogen during the 2nd quarter worth approximately $225,000. Finally, Privium Fund Management B.V. bought a new stake in Biogen in the 2nd quarter valued at $2,666,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Company Profile

Biogen Inc is a multinational biotechnology company focused on discovering, developing and delivering therapies for neurological and neurodegenerative diseases. Headquartered in Cambridge, Massachusetts, the company has a longstanding emphasis on neuroscience, with research and commercial activities spanning multiple therapeutic areas including multiple sclerosis, spinal muscular atrophy and Alzheimer’s disease. Biogen was founded in 1978 and has grown into a global biopharmaceutical firm with operations and commercial presence across North America, Europe, Japan and other international markets.

The company’s marketed portfolio has historically included several well-known therapies for multiple sclerosis such as Avonex, Tysabri and Tecfidera, and it has pursued treatments for rare neurological conditions and genetic neuromuscular disorders.