Biogen (NASDAQ:BIIB) Price Target Raised to $241.00

Biogen (NASDAQ:BIIB) had its price target upped by Mizuho from $221.00 to $241.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the biotechnology company’s stock.

A number of other research firms have also commented on BIIB. Weiss Ratings reiterated a “hold (c)” rating on shares of Biogen in a report on Wednesday, July 29th. Evercore assumed coverage on shares of Biogen in a report on Friday, May 15th. They issued an “outperform” rating on the stock. Piper Sandler restated an “overweight” rating on shares of Biogen in a research report on Tuesday, July 14th. Sanford C. Bernstein lowered their price objective on shares of Biogen from $201.00 to $200.00 in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Biogen from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $224.61.

Biogen Price Performance

BIIB opened at $206.28 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.87 and a quick ratio of 1.26. The stock’s 50 day simple moving average is $202.09 and its 200 day simple moving average is $191.64. The firm has a market cap of $30.48 billion, a price-to-earnings ratio of 36.51, a PEG ratio of 6.38 and a beta of 0.17. Biogen has a 1 year low of $127.00 and a 1 year high of $219.72.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.66. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.46 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The business’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, analysts predict that Biogen will post 12.5 earnings per share for the current year.

Institutional Trading of Biogen

Large investors have recently added to or reduced their stakes in the stock. Reflection Asset Management purchased a new stake in shares of Biogen in the 4th quarter worth about $25,000. WPG Advisers LLC boosted its stake in shares of Biogen by 417.9% during the 4th quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 117 shares in the last quarter. First Horizon Corp purchased a new position in shares of Biogen during the fourth quarter valued at about $30,000. Root Financial Partners LLC raised its stake in Biogen by 198.4% in the fourth quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company’s stock worth $33,000 after buying an additional 123 shares in the last quarter. Finally, MV Capital Management Inc. bought a new position in Biogen in the fourth quarter worth about $34,000. Institutional investors own 87.93% of the company’s stock.

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.