Brokerages Set Biogen Inc. (NASDAQ:BIIB) Price Target at $230.14

Shares of Biogen Inc. (NASDAQ:BIIB) have been assigned a consensus recommendation of “Moderate Buy” from the thirty-three analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation, eighteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $230.1429.

Several research firms have recently commented on BIIB. Cantor Fitzgerald restated an “overweight” rating on shares of Biogen in a report on Monday, June 22nd. HSBC increased their price objective on Biogen from $165.00 to $175.00 and gave the stock a “reduce” rating in a report on Thursday, September 10th. Barclays lifted their price objective on Biogen from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 29th. Canaccord Genuity Group boosted their target price on Biogen from $245.00 to $248.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Royal Bank Of Canada upped their target price on Biogen from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 25th.

Hedge Funds Weigh In On Biogen

A number of hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC raised its holdings in shares of Biogen by 9.0% during the 2nd 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. National Pension Service boosted its holdings in Biogen by 1.1% in the second quarter. National Pension Service now owns 406,064 shares of the biotechnology company’s stock worth $87,734,000 after purchasing an additional 4,397 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Biogen by 23.8% in the second quarter. Integrated Wealth Concepts LLC now owns 9,426 shares of the biotechnology company’s stock worth $2,037,000 after purchasing an additional 1,810 shares in the last quarter. NewEdge Advisors LLC increased its position in Biogen by 15.4% during the second quarter. NewEdge Advisors LLC now owns 15,037 shares of the biotechnology company’s stock worth $3,249,000 after buying an additional 2,006 shares during the last quarter. Finally, IFP Advisors Inc increased its position in Biogen by 28.5% during the second quarter. IFP Advisors Inc now owns 1,479 shares of the biotechnology company’s stock worth $320,000 after buying an additional 328 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Performance

BIIB stock opened at $215.50 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 1.87. The stock has a market cap of $31.84 billion, a P/E ratio of 38.14, a P/E/G ratio of 2.38 and a beta of 0.17. The firm has a 50 day simple moving average of $211.00 and a 200 day simple moving average of $198.22. Biogen has a 52 week low of $135.39 and a 52 week high of $225.80.

Biogen (NASDAQ:BIIB) last announced 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. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the previous year, the firm posted $5.47 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Research analysts anticipate that Biogen will post 12.41 earnings per share for the current fiscal year.

Biogen Company Profile

Biogen Inc is a biotechnology company focused on discovering, developing and commercializing therapies for neurological and neurodegenerative diseases. Founded in 1978, the company is headquartered in Cambridge, Massachusetts, and serves patients and healthcare providers in markets around the world.

Biogen’s portfolio includes treatments for multiple sclerosis, including Tecfidera, Vumerity, Tysabri, Avonex and Plegridy, as well as Spinraza for spinal muscular atrophy, developed in collaboration with Ionis Pharmaceuticals.