Biogen (NASDAQ:BIIB – Get Free Report) had its price target hoisted by investment analysts at Wells Fargo & Company from $250.00 to $310.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 28.89% from the stock’s current price.
Several other research firms have also recently issued reports on BIIB. Wolfe Research upgraded shares of Biogen from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a research note on Thursday, August 13th. Cantor Fitzgerald restated an “overweight” rating on shares of Biogen in a research report on Monday, June 22nd. Barclays upped their price target on shares of Biogen from $185.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 29th. Truist Financial raised shares of Biogen from a “hold” rating to a “buy” rating and upped their price target for the stock from $190.00 to $235.00 in a report on Monday, July 13th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $220.00 price objective on shares of Biogen in a research report on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Biogen currently has an average rating of “Moderate Buy” and an average price target of $239.96.
View Our Latest Report on Biogen
Biogen Price Performance
Shares of Biogen stock traded up $7.03 on Tuesday, reaching $240.51. The stock had a trading volume of 75,325 shares, compared to its average volume of 1,200,342. Biogen has a 1 year low of $138.00 and a 1 year high of $241.24. The company has a market cap of $35.54 billion, a P/E ratio of 42.55, a price-to-earnings-growth ratio of 2.58 and a beta of 0.09. The company has a current ratio of 1.87, a quick ratio of 1.26 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average is $220.49 and its two-hundred day moving average is $204.32.
Biogen (NASDAQ:BIIB – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, beating analysts’ consensus estimates of $2.94 by $0.66. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. Biogen’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the business earned $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, research analysts anticipate that Biogen will post 12.38 EPS for the current year.
Institutional Trading of Biogen
Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in Biogen in the second quarter worth $3,453,878,000. Orbimed Advisors LLC bought a new position in Biogen in the first quarter valued at $11,293,000. Nippon Life Global Investors Americas Inc. purchased a new stake in Biogen during the second quarter valued at about $29,648,000. Handelsbanken Fonder AB raised its position in Biogen by 12.7% during the second quarter. Handelsbanken Fonder AB now owns 93,236 shares of the biotechnology company’s stock valued at $20,145,000 after purchasing an additional 10,510 shares in the last quarter. Finally, Tidal Investments LLC raised its position in Biogen by 9.0% during the second quarter. Tidal Investments LLC now owns 63,842 shares of the biotechnology company’s stock valued at $13,794,000 after purchasing an additional 5,256 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.
Biogen Company Profile
Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for neurological and neurodegenerative diseases. Its areas of focus include multiple sclerosis, Alzheimer’s disease, spinal muscular atrophy, amyotrophic lateral sclerosis and other serious medical conditions.
The company’s portfolio includes multiple sclerosis treatments such as Tecfidera, Vumerity, Tysabri, Plegridy and Avonex, as well as Spinraza for spinal muscular atrophy. Biogen also markets Leqembi, an Alzheimer’s disease treatment developed in collaboration with Eisai, and works with partners to advance additional therapies and biosimilars.
Biogen was founded in 1978 and is headquartered in Cambridge, Massachusetts.
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