Biogen (NASDAQ:BIIB – Free Report) had its price objective increased by Barclays from $185.00 to $200.00 in a research report sent to investors on Wednesday,Benzinga reports. Barclays currently has an equal weight rating on the biotechnology company’s stock.
A number of other research firms have also recently commented on BIIB. Morgan Stanley reduced their price objective on shares of Biogen from $224.00 to $222.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. UBS Group upgraded shares of Biogen from a “neutral” rating to a “buy” rating and raised their target price for the stock from $185.00 to $225.00 in a research note on Wednesday, April 22nd. Canaccord Genuity Group raised their target price on shares of Biogen from $230.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, April 1st. Sanford C. Bernstein reduced their target price on shares of Biogen from $201.00 to $200.00 in a report on Thursday, April 30th. Finally, Oppenheimer upped their price target on shares of Biogen from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Biogen has a consensus rating of “Moderate Buy” and a consensus target price of $223.36.
View Our Latest Analysis on Biogen
Biogen Price Performance
Biogen (NASDAQ:BIIB – Get Free Report) last issued its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, topping the consensus estimate of $2.94 by $0.66. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.46 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, analysts anticipate that Biogen will post 12.49 earnings per share for the current year.
Hedge Funds Weigh In On Biogen
Several hedge funds and other institutional investors have recently made changes to their positions in BIIB. Rothschild Investment LLC increased its holdings in shares of Biogen by 12.3% during the 4th quarter. Rothschild Investment LLC now owns 513 shares of the biotechnology company’s stock worth $90,000 after buying an additional 56 shares during the last quarter. Meeder Advisory Services Inc. lifted its holdings in Biogen by 1.2% in the first quarter. Meeder Advisory Services Inc. now owns 4,721 shares of the biotechnology company’s stock valued at $866,000 after acquiring an additional 57 shares during the last quarter. Kera Capital Partners Inc. grew its position in Biogen by 3.5% in the first quarter. Kera Capital Partners Inc. now owns 1,723 shares of the biotechnology company’s stock worth $316,000 after acquiring an additional 58 shares during the period. Parallel Advisors LLC increased its stake in Biogen by 1.5% during the first quarter. Parallel Advisors LLC now owns 4,367 shares of the biotechnology company’s stock worth $801,000 after acquiring an additional 65 shares during the last quarter. Finally, Itau Unibanco Holding S.A. increased its position in shares of Biogen by 24.4% during the 4th quarter. Itau Unibanco Holding S.A. now owns 337 shares of the biotechnology company’s stock worth $59,000 after purchasing an additional 66 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.
Key Biogen News
Here are the key news stories impacting Biogen this week:
- Positive Sentiment: Biogen reported second-quarter revenue of $2.74 billion, up 3.4% year over year and ahead of consensus estimates of approximately $2.46 billion. Growth was led by newer products and the company’s growth portfolio, helping adjusted EPS reach $3.60 versus the $2.94 analyst estimate. Biogen beats quarterly estimates as newer drugs drive growth
- Positive Sentiment: Management raised its revenue outlook and highlighted continued momentum in newer medicines and strategic acquisitions, supporting the view that Biogen is gradually reducing its reliance on older products. Biogen raises revenue outlook as growth portfolio drives Q2 beat
- Positive Sentiment: Several analysts became more constructive after the results. TD Cowen raised its price target to $225 and upgraded the stock to Buy, while Morgan Stanley increased its target to $231, although it retained an Equal Weight rating. Barclays also expects the shares to rise.
- Neutral Sentiment: Wedbush raised its price target from $201 to $215 but maintained a Neutral rating, and Piper Sandler reaffirmed its Buy rating. Zacks upgraded Biogen from Strong Sell to Hold, indicating improving sentiment but not broad analyst conviction.
- Negative Sentiment: Reported profitability deteriorated substantially. Second-quarter net income fell to $97.5 million, while diluted EPS from continuing operations declined to $0.66 from $4.33 a year earlier; first-half net income also dropped to $417 million from $875.3 million. The sharp gap between revenue growth and reported earnings is raising concerns that profitability may be peaking. Biogen earnings and profitability analysis
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.
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