Biogen Inc. (NASDAQ:BIIB) Receives $184.88 Average Price Target from Analysts

Shares of Biogen Inc. (NASDAQ:BIIB) have earned a consensus recommendation of “Hold” from the twenty-six brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, fifteen have issued a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $187.8077.

Several analysts recently commented on the stock. Mizuho lifted their target price on shares of Biogen from $169.00 to $177.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. Hsbc Global Res downgraded shares of Biogen from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 10th. HSBC restated a “reduce” rating and set a $143.00 price objective (down previously from $144.00) on shares of Biogen in a report on Wednesday, December 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Biogen in a research report on Monday, December 29th. Finally, Wells Fargo & Company lifted their price target on Biogen from $155.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 10th.

Institutional Investors Weigh In On Biogen

A number of hedge funds and other institutional investors have recently modified their holdings of the company. UniSuper Management Pty Ltd increased its position in Biogen by 7.2% during the first quarter. UniSuper Management Pty Ltd now owns 17,671 shares of the biotechnology company’s stock worth $2,418,000 after acquiring an additional 1,186 shares during the period. Fred Alger Management LLC bought a new stake in Biogen in the 1st quarter valued at about $1,664,000. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Biogen by 10.4% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,163 shares of the biotechnology company’s stock worth $296,000 after purchasing an additional 203 shares in the last quarter. United Services Automobile Association bought a new position in shares of Biogen during the first quarter worth approximately $499,000. Finally, MBB Public Markets I LLC bought a new position in shares of Biogen during the first quarter worth approximately $294,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Down 5.0%

BIIB stock opened at $169.31 on Thursday. Biogen has a 1-year low of $110.04 and a 1-year high of $190.20. The business’s 50 day simple moving average is $174.62 and its 200 day simple moving average is $151.47. The company has a current ratio of 2.72, a quick ratio of 2.04 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $24.84 billion, a PE ratio of 15.43, a PEG ratio of 1.48 and a beta of 0.13.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.92. Biogen had a return on equity of 14.13% and a net margin of 15.98%.The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter last year, the firm posted $4.08 EPS. The company’s quarterly revenue was up 2.8% on a year-over-year basis. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. As a group, research analysts anticipate that Biogen will post 15.83 EPS for the current year.

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.