Biogen’s (BIIB) Outperform Rating Reiterated at William Blair

William Blair reaffirmed their outperform rating on shares of Biogen (NASDAQ:BIIB) in a report issued on Wednesday morning,RTT News reports.

BIIB has been the subject of several other research reports. Royal Bank Of Canada boosted their target price on shares of Biogen from $208.00 to $219.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Morgan Stanley cut their target price on shares of Biogen from $146.00 to $144.00 and set an “equal weight” rating for the company in a research note on Friday, August 1st. Wedbush reissued a “neutral” rating and issued a $121.00 target price on shares of Biogen in a research note on Thursday, June 12th. Wall Street Zen downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 20th. Finally, Truist Financial started coverage on Biogen in a report on Monday, July 21st. They issued a “hold” rating and a $142.00 price target for the company. Eleven investment analysts have rated the stock with a Buy rating and twenty have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $182.04.

Biogen Trading Up 1.3%

Shares of BIIB stock opened at $137.37 on Wednesday. The firm has a 50-day moving average price of $135.97 and a 200 day moving average price of $130.61. Biogen has a twelve month low of $110.04 and a twelve month high of $197.70. The company has a market capitalization of $20.14 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 1.07 and a beta of 0.11. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36.

Biogen (NASDAQ:BIIB) last announced its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share for the quarter, beating the consensus estimate of $3.93 by $1.54. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the previous year, the company posted $5.28 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Research analysts forecast that Biogen will post 15.83 earnings per share for the current fiscal year.

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 517 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total transaction of $69,045.35. Following the completion of the sale, the insider 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rachid Izzar sold 2,223 shares of the business’s stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total value of $300,105.00. Following the sale, the insider owned 6,330 shares of the company’s stock, valued at $854,550. The trade was a 25.99% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Institutional Trading of Biogen

A number of institutional investors have recently modified their holdings of BIIB. Elevation Point Wealth Partners LLC purchased a new stake in shares of Biogen during the 2nd quarter worth about $25,000. Opal Wealth Advisors LLC purchased a new position in Biogen in the 1st quarter worth approximately $26,000. Vision Financial Markets LLC purchased a new position in Biogen in the 1st quarter worth approximately $27,000. Greykasell Wealth Strategies Inc. purchased a new position in Biogen in the 1st quarter worth approximately $27,000. Finally, Rothschild Investment LLC boosted its holdings in Biogen by 64.7% in the 2nd quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 88 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Company Profile

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.