Biogen (NASDAQ:BIIB) Price Target Raised to $310.00

Biogen (NASDAQ:BIIB) had its price objective increased by Wells Fargo & Company from $250.00 to $310.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an overweight rating on the biotechnology company’s stock.

Several other research firms have also issued reports on BIIB. Wall Street Zen lowered shares of Biogen from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Needham & Company LLC lifted their price objective on Biogen from $255.00 to $256.00 and gave the company a “buy” rating in a report on Monday, June 29th. Royal Bank Of Canada lowered their price objective on Biogen from $260.00 to $256.00 and set an “outperform” rating on the stock in a research note on Thursday, October 8th. Barclays increased their target price on Biogen from $185.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 29th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Biogen in a report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $241.89.

Biogen Trading Up 5.3%

Shares of Biogen stock opened at $253.84 on Tuesday. The firm has a market capitalization of $37.50 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 2.68 and a beta of 0.09. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.87 and a quick ratio of 1.26. The company’s fifty day moving average price is $222.78 and its two-hundred day moving average price is $205.73. Biogen has a 52-week low of $138.00 and a 52-week high of $254.41.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (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 company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the prior year, the company posted $5.47 EPS. The business’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. On average, analysts expect that Biogen will post 12.31 EPS for the current year.

Hedge Funds Weigh In On Biogen

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Biogen in the second quarter valued at about $3,453,878,000. Primecap Management Co. CA acquired a new stake in shares of Biogen during the second quarter worth approximately $3,274,304,000. Wellington Management Group LLP increased its holdings in shares of Biogen by 5.3% during the second quarter. Wellington Management Group LLP now owns 3,117,469 shares of the biotechnology company’s stock worth $673,560,000 after buying an additional 155,828 shares in the last quarter. Amundi raised its stake in shares of Biogen by 91.8% in the second quarter. Amundi now owns 1,516,831 shares of the biotechnology company’s stock valued at $327,727,000 after acquiring an additional 726,004 shares during the last quarter. Finally, Legal & General Group Plc bought a new position in shares of Biogen in the second quarter valued at approximately $322,640,000. 87.93% of the stock is owned by institutional investors.

Key Stories Impacting Biogen

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Wells Fargo raised its price target on Biogen, adding to a series of upward analyst revisions and reinforcing optimism about the company’s outlook. Biogen Stock Gets Price Target Boost from Wells Fargo
• Positive Sentiment: Bank of America increased its Biogen price target to $244 from $219. Although the firm maintained a Neutral rating, the revision reflects improved expectations as analysts update their models ahead of earnings. Biogen on BofA Price Target Hike
• Positive Sentiment: Several previews suggest Biogen could exceed third-quarter earnings estimates, supported by favorable analyst expectations and the potential for continued progress across its late-stage drug pipeline. Biogen Expected to Beat Earnings Estimates
• Neutral Sentiment: Wedbush kept a Hold rating on Biogen, indicating that valuation and near-term catalysts may already be reflected in the share price. Wedbush Remains a Hold on Biogen
• Negative Sentiment: Bank of America’s $244 target remains below the stock’s recent trading level, implying limited upside or potential downside despite the target increase. Analysts also characterize the upcoming quarter as relatively quiet, and earnings previews warn that disappointment remains possible.

About Biogen

Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for neurological and neurodegenerative diseases. Its areas of focus include multiple sclerosis, Alzheimer’s disease, spinal muscular atrophy, amyotrophic lateral sclerosis and other serious medical conditions.

The company’s portfolio includes multiple sclerosis treatments such as Tecfidera, Vumerity, Tysabri, Plegridy and Avonex, as well as Spinraza for spinal muscular atrophy. Biogen also markets Leqembi, an Alzheimer’s disease treatment developed in collaboration with Eisai, and works with partners to advance additional therapies and biosimilars.

Biogen was founded in 1978 and is headquartered in Cambridge, Massachusetts.