Biogen (NASDAQ:BIIB) Given New $178.00 Price Target at Wedbush

Biogen (NASDAQ:BIIB) had its target price increased by stock analysts at Wedbush from $143.00 to $178.00 in a research note issued on Friday,MarketScreener reports. The firm currently has a “neutral” rating on the biotechnology company’s stock. Wedbush’s price target indicates a potential upside of 2.42% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Guggenheim increased their price target on shares of Biogen from $165.00 to $185.00 in a report on Friday, October 31st. HSBC reissued a “reduce” rating and issued a $143.00 price target (down previously from $144.00) on shares of Biogen in a research note on Wednesday, December 10th. Morgan Stanley increased their target price on shares of Biogen from $149.00 to $156.00 and gave the stock an “equal weight” rating in a research note on Friday, December 12th. Truist Financial lifted their price objective on Biogen from $142.00 to $190.00 and gave the company a “hold” rating in a research note on Thursday, January 8th. Finally, Jefferies Financial Group raised their price target on shares of Biogen from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, November 28th. Ten equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $191.85.

Biogen Stock Up 0.7%

Shares of BIIB stock opened at $173.80 on Friday. Biogen has a fifty-two week low of $110.04 and a fifty-two week high of $190.20. The firm has a market capitalization of $25.50 billion, a PE ratio of 15.84, 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 quick ratio of 2.04 and a current ratio of 2.72. The stock’s 50-day simple moving average is $175.72 and its 200-day simple moving average is $152.88.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Biogen in the second quarter valued at approximately $284,358,000. Orion Porfolio Solutions LLC raised its holdings in Biogen by 6,828.4% during the second quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company’s stock worth $64,965,000 after purchasing an additional 509,809 shares during the last quarter. Caisse de depot et placement du Quebec boosted its position in Biogen by 718.2% during the third quarter. Caisse de depot et placement du Quebec now owns 569,253 shares of the biotechnology company’s stock worth $79,741,000 after purchasing an additional 499,676 shares in the last quarter. AQR Capital Management LLC grew its holdings in Biogen by 30.7% in the third quarter. AQR Capital Management LLC now owns 1,783,581 shares of the biotechnology company’s stock valued at $248,809,000 after purchasing an additional 418,776 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Biogen by 190.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 624,371 shares of the biotechnology company’s stock worth $78,415,000 after buying an additional 409,591 shares during 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.