Biogen (NASDAQ:BIIB) Price Target Raised to $245.00

Biogen (NASDAQ:BIIB) had its target price increased by Canaccord Genuity Group from $230.00 to $245.00 in a report published on Wednesday morning, MarketBeat Ratings reports. They currently have a buy rating on the biotechnology company’s stock.

Other equities research analysts have also recently issued research reports about the company. HC Wainwright upped their price objective on Biogen from $194.00 to $228.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. HSBC boosted their target price on shares of Biogen from $143.00 to $150.00 and gave the stock a “reduce” rating in a report on Tuesday, March 17th. Royal Bank Of Canada upped their price target on shares of Biogen from $217.00 to $233.00 and gave the stock an “outperform” rating in a research report on Monday, February 9th. UBS Group assumed coverage on shares of Biogen in a research report on Tuesday, January 6th. They issued a “neutral” rating and a $185.00 price objective for the company. Finally, Stifel Nicolaus boosted their price target on Biogen from $202.00 to $214.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Twelve investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $208.31.

Biogen Stock Performance

Biogen stock opened at $177.34 on Wednesday. The company has a market cap of $26.03 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 2.37 and a beta of 0.16. The firm has a 50-day moving average of $186.60 and a 200-day moving average of $171.35. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.68 and a quick ratio of 2.03. Biogen has a one year low of $110.04 and a one year high of $202.41.

Biogen (NASDAQ:BIIB) last released its earnings results on Friday, February 6th. The biotechnology company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.38. Biogen had a return on equity of 12.64% and a net margin of 13.07%.The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the previous year, the business earned $3.44 earnings per share. Biogen’s quarterly revenue was down 7.2% on a year-over-year basis. Biogen has set its FY 2026 guidance at 15.250-16.250 EPS. On average, equities analysts expect that Biogen will post 15.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Biogen news, insider Priya Singhal sold 2,660 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $199.83, for a total transaction of $531,547.80. Following the transaction, the insider owned 8,043 shares in the company, valued at $1,607,232.69. This trade represents a 24.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by insiders.

Hedge Funds Weigh In On Biogen

Hedge funds have recently bought and sold shares of the business. Rothschild Investment LLC raised its stake in Biogen by 12.3% in the 4th quarter. Rothschild Investment LLC now owns 513 shares of the biotechnology company’s stock worth $90,000 after purchasing an additional 56 shares in the last quarter. Itau Unibanco Holding S.A. grew its position in shares of Biogen by 24.4% during the 4th quarter. Itau Unibanco Holding S.A. now owns 337 shares of the biotechnology company’s stock worth $59,000 after purchasing an additional 66 shares in the last quarter. Advisory Services Network LLC increased its holdings in shares of Biogen by 3.9% during the third quarter. Advisory Services Network LLC now owns 1,792 shares of the biotechnology company’s stock worth $251,000 after purchasing an additional 68 shares during the period. CVA Family Office LLC increased its holdings in shares of Biogen by 18.1% during the third quarter. CVA Family Office LLC now owns 464 shares of the biotechnology company’s stock worth $65,000 after purchasing an additional 71 shares during the period. Finally, Davis Investment Partners LLC raised its position in shares of Biogen by 1.7% in the fourth quarter. Davis Investment Partners LLC now owns 4,374 shares of the biotechnology company’s stock valued at $778,000 after buying an additional 71 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

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.