Evercore Initiates Coverage on Biogen (NASDAQ:BIIB)

Research analysts at Evercore began coverage on shares of Biogen (NASDAQ:BIIB) in a research report issued to clients and investors on Friday. The brokerage set an “outperform” rating on the biotechnology company’s stock.

Several other equities research analysts have also weighed in on the company. Piper Sandler reiterated an “overweight” rating and issued a $225.00 price objective on shares of Biogen in a research note on Friday. Wall Street Zen raised shares of Biogen from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Canaccord Genuity Group lifted their price objective on Biogen from $230.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, April 1st. Freedom Capital raised Biogen from a “hold” rating to a “strong-buy” rating in a report on Friday, May 1st. Finally, Sanford C. Bernstein cut their target price on shares of Biogen from $201.00 to $200.00 in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $214.65.

Biogen Stock Performance

NASDAQ:BIIB traded up $2.04 during mid-day trading on Friday, hitting $193.41. 73,762 shares of the company’s stock traded hands, compared to its average volume of 1,297,462. The firm has a market capitalization of $28.56 billion, a price-to-earnings ratio of 20.68, a price-to-earnings-growth ratio of 1.80 and a beta of 0.19. The firm has a 50 day moving average of $185.15 and a two-hundred day moving average of $179.24. The company has a current ratio of 3.06, a quick ratio of 2.41 and a debt-to-equity ratio of 0.34. Biogen has a 12 month low of $121.05 and a 12 month high of $205.97.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, topping the consensus estimate of $2.95 by $0.62. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.29 billion. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The company’s revenue for the quarter was up 1.9% on a year-over-year basis. 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, equities analysts forecast that Biogen will post 14.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Biogen

Institutional investors have recently added to or reduced their stakes in the stock. Convergence Investment Partners LLC acquired a new stake in Biogen in the 3rd quarter valued at $1,342,000. Caprock Group LLC bought a new position in shares of Biogen in the 3rd quarter valued at about $742,000. Leuthold Group LLC acquired a new stake in shares of Biogen in the third quarter valued at about $3,294,000. Generali Investments Management Co LLC raised its holdings in Biogen by 408.2% during the third quarter. Generali Investments Management Co LLC now owns 9,970 shares of the biotechnology company’s stock worth $1,397,000 after acquiring an additional 8,008 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Biogen by 9.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 67,010 shares of the biotechnology company’s stock valued at $9,387,000 after purchasing an additional 5,987 shares during the last quarter. 87.93% of the stock is owned by institutional investors.

Key Headlines Impacting Biogen

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Biogen reported topline Phase 2 data for its Alzheimer’s drug diranersen (BIIB080) showing robust reductions in tau pathology and signals of slower cognitive decline, and the company said it will advance the program into Phase 3/registrational development. Article Title
• Positive Sentiment: Investors also welcomed the completion of Biogen’s $5.3 billion Apellis Pharmaceuticals acquisition, which adds commercial products SYFOVRE and EMPAVELI and could strengthen near-term growth. Article Title
• Neutral Sentiment: Several analysts maintained Hold ratings after the readout, arguing the data were mixed: biomarker and cognitive signals were encouraging, but the study missed its primary endpoint. Article Title
• Negative Sentiment: The Alzheimer’s study failure leaves some uncertainty around how quickly diranersen can translate into commercial value, and the Apellis deal adds integration and financing considerations. Article Title

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.