Wall Street Zen lowered shares of Biogen (NASDAQ:BIIB – Free Report) from a buy rating to a hold rating in a report released on Saturday.
Several other equities analysts have also commented on the company. Truist Financial upgraded Biogen from a “hold” rating to a “buy” rating and raised their price target for the company from $190.00 to $235.00 in a research note on Monday, July 13th. Morgan Stanley increased their target price on shares of Biogen from $222.00 to $231.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Canaccord Genuity Group raised their target price on shares of Biogen from $245.00 to $248.00 and gave the company a “buy” rating in a research report on Thursday. Bank of America reduced their price target on shares of Biogen from $217.00 to $215.00 and set a “neutral” rating for the company in a report on Tuesday, July 21st. Finally, Sanford C. Bernstein dropped their price objective on shares of Biogen from $201.00 to $200.00 in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $223.89.
Check Out Our Latest Report on Biogen
Biogen Stock Performance
Biogen (NASDAQ:BIIB – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.66. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.46 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%.Biogen’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, equities analysts predict that Biogen will post 12.65 EPS for the current year.
Institutional Trading of Biogen
Institutional investors have recently modified their holdings of the company. Reflection Asset Management purchased a new stake in Biogen during the fourth quarter valued at approximately $25,000. WPG Advisers LLC increased its position in shares of Biogen by 417.9% during the fourth quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 117 shares in the last quarter. First Horizon Corp acquired a new position in shares of Biogen during the fourth quarter worth $30,000. WFA of San Diego LLC purchased a new stake in shares of Biogen during the 2nd quarter valued at $32,000. Finally, Root Financial Partners LLC boosted its position in shares of Biogen by 198.4% in the 4th quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 123 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.
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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