Biogen (NASDAQ:BIIB) Price Target Cut to $189.00 by Analysts at Truist Financial

Biogen (NASDAQ:BIIB) had its target price cut by Truist Financial from $193.00 to $189.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a hold rating on the biotechnology company’s stock.

A number of other equities analysts also recently weighed in on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Biogen in a research note on Monday, December 29th. HSBC boosted their target price on Biogen from $143.00 to $150.00 and gave the stock a “reduce” rating in a research note on Tuesday, March 17th. Wedbush boosted their target price on Biogen from $187.00 to $191.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 1st. Mizuho boosted their target price on Biogen from $207.00 to $236.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 10th. Finally, UBS Group assumed coverage on Biogen in a research note on Tuesday, January 6th. They issued a “neutral” rating and a $185.00 target price on the stock. Thirteen research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Biogen has a consensus rating of “Hold” and a consensus price target of $208.23.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $176.37 on Monday. Biogen has a twelve month low of $114.66 and a twelve month high of $202.41. The stock’s 50 day moving average price is $186.54 and its 200-day moving average price is $173.24. The company has a market capitalization of $25.88 billion, a PE ratio of 20.02, a PEG 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 (NASDAQ:BIIB) last announced its earnings results on Friday, February 6th. The biotechnology company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.38. Biogen had a return on equity of 12.64% and a net margin of 13.07%.The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the previous year, the business earned $3.44 EPS. The company’s 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. On average, equities analysts anticipate that Biogen will post 15.83 EPS for the current year.

Insider Transactions at Biogen

In other Biogen news, insider Priya Singhal sold 2,660 shares of the business’s stock in a transaction 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 sale, the insider 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 0.18% of the stock is owned by insiders.

Institutional Investors Weigh In On Biogen

Hedge funds and other institutional investors have recently bought and sold shares of the business. Reflection Asset Management bought a new stake in Biogen during the 4th quarter valued at $25,000. WPG Advisers LLC raised its holdings in Biogen by 417.9% during the 4th quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 117 shares during the period. First Horizon Corp bought a new stake in Biogen during the 4th quarter valued at $30,000. Root Financial Partners LLC raised its holdings in Biogen by 198.4% during the 4th quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 123 shares during the period. Finally, MV Capital Management Inc. bought a new stake in Biogen during the 4th quarter valued at $34,000. Institutional investors own 87.93% of the company’s stock.

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.