Biogen (NASDAQ:BIIB) Given New $177.00 Price Target at Mizuho

Biogen (NASDAQ:BIIB) had its price target raised by Mizuho from $169.00 to $177.00 in a research note released on Monday,MarketScreener reports. They currently have an outperform rating on the biotechnology company’s stock.

Other analysts have also issued reports about the stock. Wedbush increased their target price on shares of Biogen from $135.00 to $143.00 and gave the company a “neutral” rating in a research note on Friday. BMO Capital Markets increased their target price on shares of Biogen from $128.00 to $150.00 in a research report on Friday. Morgan Stanley boosted their price target on Biogen from $144.00 to $149.00 and gave the stock an “equal weight” rating in a research report on Friday, October 10th. HC Wainwright raised their price objective on Biogen from $187.00 to $194.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Finally, Truist Financial started coverage on shares of Biogen in a report on Monday, July 21st. They issued a “hold” rating and a $142.00 price target for the company. Nine equities research analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $176.42.

Biogen Trading Down 0.8%

NASDAQ BIIB opened at $150.24 on Monday. The company’s 50 day moving average price is $144.51 and its 200 day moving average price is $134.01. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50. Biogen has a one year low of $110.04 and a one year high of $179.20. The firm has a market capitalization of $22.03 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 1.17 and a beta of 0.13.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, topping the consensus estimate of $3.89 by $0.92. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the previous year, the firm posted $4.08 earnings per share. The company’s revenue was up 2.8% compared to the same quarter last year. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. On average, sell-side analysts predict that Biogen will post 15.83 EPS for the current year.

Insider Activity

In other news, insider Priya Singhal sold 517 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total transaction of $69,045.35. Following the sale, the insider owned 5,772 shares of the company’s stock, valued at $770,850.60. The trade was a 8.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Biogen

Several hedge funds have recently modified their holdings of BIIB. Vanguard Group Inc. increased its position in Biogen by 1.5% in the second quarter. Vanguard Group Inc. now owns 17,290,651 shares of the biotechnology company’s stock worth $2,171,533,000 after buying an additional 257,812 shares in the last quarter. State Street Corp lifted its position in shares of Biogen by 1.0% in the second quarter. State Street Corp now owns 7,468,807 shares of the biotechnology company’s stock valued at $938,007,000 after acquiring an additional 71,897 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Biogen by 1.9% in the second quarter. Geode Capital Management LLC now owns 3,918,150 shares of the biotechnology company’s stock valued at $490,089,000 after purchasing an additional 71,286 shares during the period. Invesco Ltd. increased its position in shares of Biogen by 2.4% during the second quarter. Invesco Ltd. now owns 2,320,126 shares of the biotechnology company’s stock valued at $291,385,000 after acquiring an additional 55,119 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Biogen in the 2nd quarter valued at approximately $284,358,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer’s disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.