Biogen (NASDAQ:BIIB – Get Free Report) was upgraded by investment analysts at Needham & Company LLC from a “hold” rating to a “buy” rating in a report issued on Monday, Marketbeat Ratings reports. The firm presently has a $255.00 target price on the biotechnology company’s stock. Needham & Company LLC’s price target suggests a potential upside of 30.54% from the stock’s previous close.
Several other research analysts have also weighed in on BIIB. HSBC upped their price target on Biogen from $143.00 to $150.00 and gave the company a “reduce” rating in a research report on Tuesday, March 17th. Rothschild & Co Redburn upped their price target on Biogen from $180.00 to $190.00 in a research report on Thursday, April 30th. Sanford C. Bernstein dropped their price target on Biogen from $201.00 to $200.00 in a research report on Thursday, April 30th. Argus raised Biogen to a “hold” rating in a research report on Thursday, April 9th. Finally, Evercore assumed coverage on Biogen in a research report on Friday, May 15th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $217.26.
Get Our Latest Analysis on Biogen
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, topping analysts’ consensus estimates of $2.95 by $0.62. The company 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%.Biogen’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.02 earnings per share. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Equities analysts anticipate that Biogen will post 14.18 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Rothschild Investment LLC grew its stake in Biogen by 12.3% in the fourth quarter. Rothschild Investment LLC now owns 513 shares of the biotechnology company’s stock valued at $90,000 after purchasing an additional 56 shares in the last quarter. Meeder Advisory Services Inc. grew its stake 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 purchasing an additional 57 shares in the last quarter. Kera Capital Partners Inc. grew its stake in Biogen by 3.5% in the first quarter. Kera Capital Partners Inc. now owns 1,723 shares of the biotechnology company’s stock valued at $316,000 after purchasing an additional 58 shares in the last quarter. Parallel Advisors LLC grew its stake in Biogen by 1.5% in the first quarter. Parallel Advisors LLC now owns 4,367 shares of the biotechnology company’s stock valued at $801,000 after purchasing an additional 65 shares in the last quarter. Finally, Itau Unibanco Holding S.A. grew its stake in Biogen by 24.4% in the fourth quarter. Itau Unibanco Holding S.A. now owns 337 shares of the biotechnology company’s stock valued at $59,000 after purchasing an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.
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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