Biogen (NASDAQ:BIIB – Get Free Report) was upgraded by Truist Financial from a “hold” rating to a “buy” rating in a research report issued on Monday, MarketBeat Ratings reports. The brokerage currently has a $235.00 target price on the biotechnology company’s stock, up from their prior target price of $190.00. Truist Financial’s target price indicates a potential upside of 18.00% from the stock’s current price.
Other analysts have also issued reports about the company. JPMorgan Chase & Co. lifted their price target on Biogen from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, April 23rd. Evercore began coverage on Biogen in a report on Friday, May 15th. They issued an “outperform” rating on the stock. Wall Street Zen raised shares of Biogen from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Canaccord Genuity Group upped their target price on shares of Biogen from $230.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. Finally, Wedbush increased their target price on shares of Biogen from $191.00 to $196.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Biogen has an average rating of “Moderate Buy” and an average target price of $219.85.
View Our Latest Analysis on BIIB
Biogen Price Performance
Biogen (NASDAQ:BIIB – Get Free Report) last announced its earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.95 by $0.62. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.29 billion. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Equities research analysts forecast that Biogen will post 13.77 EPS for the current year.
Hedge Funds Weigh In On Biogen
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Reflection Asset Management acquired a new stake in shares of Biogen in the 4th quarter worth $25,000. WPG Advisers LLC lifted its holdings in Biogen by 417.9% in the fourth 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 last quarter. First Horizon Corp acquired a new stake in Biogen during the fourth quarter worth $30,000. Root Financial Partners LLC raised its position in Biogen by 198.4% in the fourth quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 123 shares during the period. Finally, MV Capital Management Inc. purchased a new position in shares of Biogen during the 4th quarter worth $34,000. Institutional investors and hedge funds 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.
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