Biogen (NASDAQ:BIIB) Given New $300.00 Price Target at Oppenheimer

Biogen (NASDAQ:BIIB) had its price target hoisted by Oppenheimer from $275.00 to $300.00 in a research report released on Thursday morning,MarketScreener reports. They currently have an outperform rating on the biotechnology company’s stock.

A number of other equities research analysts have also recently weighed in on BIIB. Citigroup raised their price target on Biogen from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Freedom Capital raised Biogen from a “hold” rating to a “strong-buy” rating in a report on Friday, May 1st. Canaccord Genuity Group increased their price objective on shares of Biogen from $230.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. Sanford C. Bernstein decreased their price target on shares of Biogen from $201.00 to $200.00 in a research note on Thursday, April 30th. Finally, Royal Bank Of Canada upped their price objective on Biogen from $213.00 to $222.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $215.62.

Biogen Price Performance

Shares of NASDAQ BIIB traded up $1.61 during midday trading on Thursday, reaching $192.98. 235,222 shares of the company traded hands, compared to its average volume of 1,298,521. The firm has a market cap of $28.49 billion, a PE ratio of 20.74, a PEG ratio of 1.80 and a beta of 0.19. The stock’s 50-day simple moving average is $185.15 and its 200-day simple moving average is $179.24. Biogen has a 12 month low of $121.05 and a 12 month high of $205.97. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.41 and a current ratio of 3.06.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share for the quarter, topping the consensus estimate of $2.95 by $0.62. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the prior year, the firm earned $3.02 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. As a group, equities analysts anticipate that Biogen will post 14.21 earnings per share for the current fiscal year.

Institutional Trading of Biogen

A number of hedge funds have recently modified their holdings of BIIB. Empowered Funds LLC raised its holdings in Biogen by 64.9% in the first quarter. Empowered Funds LLC now owns 7,054 shares of the biotechnology company’s stock worth $965,000 after purchasing an additional 2,777 shares during the period. Focus Partners Wealth increased its position in shares of Biogen by 172.2% in the 1st quarter. Focus Partners Wealth now owns 10,173 shares of the biotechnology company’s stock valued at $1,392,000 after buying an additional 6,436 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Biogen during the 2nd quarter worth $216,000. Cerity Partners LLC raised its stake in Biogen by 15.3% during the 2nd quarter. Cerity Partners LLC now owns 46,552 shares of the biotechnology company’s stock worth $5,847,000 after buying an additional 6,184 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in Biogen by 13.4% during the second quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company’s stock worth $336,000 after acquiring an additional 316 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen News Roundup

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Biogen reported topline Phase 2 data for its Alzheimer’s drug diranersen (BIIB080) showing robust reductions in tau pathology and signals of slower cognitive decline, and the company said it will advance the program into Phase 3/registrational development. Article Title
• Positive Sentiment: Investors also welcomed the completion of Biogen’s $5.3 billion Apellis Pharmaceuticals acquisition, which adds commercial products SYFOVRE and EMPAVELI and could strengthen near-term growth. Article Title
• Neutral Sentiment: Several analysts maintained Hold ratings after the readout, arguing the data were mixed: biomarker and cognitive signals were encouraging, but the study missed its primary endpoint. Article Title
• Negative Sentiment: The Alzheimer’s study failure leaves some uncertainty around how quickly diranersen can translate into commercial value, and the Apellis deal adds integration and financing considerations. Article Title

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.