Biogen (NASDAQ:BIIB) Upgraded at Argus

Argus upgraded shares of Biogen (NASDAQ:BIIB) to a hold rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other analysts have also recently commented on BIIB. Morgan Stanley lifted their price objective on shares of Biogen from $190.00 to $200.00 and gave the company an “equal weight” rating in a research note on Friday. UBS Group began coverage on shares of Biogen in a research note on Tuesday, January 6th. They set a “neutral” rating and a $185.00 price objective for the company. BMO Capital Markets lifted their price objective on shares of Biogen from $165.00 to $196.00 and gave the company a “market perform” rating in a research note on Friday, February 6th. The Goldman Sachs Group restated a “buy” rating on shares of Biogen in a research note on Monday, February 9th. Finally, Royal Bank Of Canada decreased their price objective on shares of Biogen from $233.00 to $213.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Twelve investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $207.92.

Biogen Stock Down 2.3%

BIIB stock opened at $172.97 on Thursday. The firm has a 50 day moving average of $186.59 and a 200 day moving average of $172.70. The stock has a market capitalization of $25.39 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 2.31 and a beta of 0.16. The company has a quick ratio of 2.03, a current ratio of 2.68 and a debt-to-equity ratio of 0.34. Biogen has a 52 week low of $112.18 and a 52 week high of $202.41.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Friday, February 6th. The biotechnology company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.61 by $0.38. Biogen had a net margin of 13.07% and a return on equity of 12.64%. The business had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the previous year, the business posted $3.44 EPS. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 15.250-16.250 EPS. Sell-side analysts forecast that Biogen will post 15.83 earnings per share for the current year.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 2,660 shares of Biogen stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $199.83, for a total transaction of $531,547.80. Following the completion of the transaction, the insider directly owned 8,043 shares of the company’s stock, valued at $1,607,232.69. The trade was a 24.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Biogen

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Biogen by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 17,447,092 shares of the biotechnology company’s stock valued at $3,070,514,000 after purchasing an additional 157,857 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Biogen by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 4,199,399 shares of the biotechnology company’s stock valued at $736,435,000 after purchasing an additional 130,618 shares in the last quarter. Norges Bank purchased a new position in shares of Biogen during the 4th quarter valued at approximately $464,408,000. Invesco Ltd. increased its holdings in shares of Biogen by 4.2% during the 3rd quarter. Invesco Ltd. now owns 2,418,127 shares of the biotechnology company’s stock valued at $338,731,000 after purchasing an additional 98,001 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of Biogen by 3.3% during the 4th quarter. Morgan Stanley now owns 2,325,013 shares of the biotechnology company’s stock valued at $409,180,000 after purchasing an additional 73,478 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

About Biogen

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.