Biogen (NASDAQ:BIIB) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Biogen (NASDAQ:BIIB) had its price target raised by stock analysts at Needham & Company LLC from $255.00 to $256.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 18.50% from the stock’s previous close.

A number of other research analysts also recently issued reports on BIIB. The Goldman Sachs Group boosted their target price on shares of Biogen from $231.00 to $238.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Canaccord Genuity Group lifted their price objective on Biogen from $230.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. Sanford C. Bernstein lowered their target price on Biogen from $201.00 to $200.00 in a research note on Thursday, April 30th. Wedbush raised their target price on Biogen from $191.00 to $196.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Finally, Evercore initiated coverage on Biogen in a research report on Friday, May 15th. They set an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Biogen currently has an average rating of “Moderate Buy” and an average price target of $217.41.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $216.03 on Monday. Biogen has a 52 week low of $121.05 and a 52 week high of $218.06. The business’s 50 day moving average price is $193.37 and its 200 day moving average price is $185.71. The company has a quick ratio of 2.41, a current ratio of 3.06 and a debt-to-equity ratio of 0.34. The firm has a market cap of $31.89 billion, a P/E ratio of 23.18 and a beta of 0.20.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, beating the consensus estimate of $2.95 by $0.62. The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. On average, sell-side analysts expect that Biogen will post 13.95 earnings per share for the current year.

Hedge Funds Weigh In On Biogen

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

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.