Biogen (NASDAQ:BIIB) Given New $178.00 Price Target at Wedbush

Biogen (NASDAQ:BIIB) had its price target hoisted by Wedbush from $143.00 to $178.00 in a report issued on Friday,MarketScreener reports. They currently have a neutral rating on the biotechnology company’s stock.

BIIB has been the topic of several other reports. Wells Fargo & Company increased their target price on Biogen from $155.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 10th. Morgan Stanley upped their price target on Biogen from $149.00 to $156.00 and gave the stock an “equal weight” rating in a research note on Friday, December 12th. Wall Street Zen lowered Biogen from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Stifel Nicolaus raised shares of Biogen from a “hold” rating to a “buy” rating and increased their target price for the stock from $144.00 to $202.00 in a research report on Thursday, November 6th. Finally, Truist Financial raised their price target on shares of Biogen from $142.00 to $190.00 and gave the company a “hold” rating in a report on Thursday, January 8th. Ten analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Biogen has an average rating of “Hold” and an average price target of $191.85.

Biogen Trading Down 1.3%

Shares of BIIB stock opened at $171.59 on Friday. The firm’s 50-day simple moving average is $175.80 and its 200-day simple moving average is $153.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.72 and a quick ratio of 2.04. Biogen has a 1-year low of $110.04 and a 1-year high of $190.20. The firm has a market cap of $25.17 billion, a P/E ratio of 15.64, a PEG ratio of 1.44 and a beta of 0.13.

Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.89 by $0.92. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.34 billion. Biogen had a net margin of 15.98% and a return on equity of 14.13%. Biogen’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.08 earnings per share. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. As a group, equities analysts forecast that Biogen will post 15.83 EPS for the current year.

Hedge Funds Weigh In On Biogen

A number of hedge funds and other institutional investors have recently bought and sold shares of BIIB. Farther Finance Advisors LLC lifted its holdings in shares of Biogen by 57.9% in the 4th quarter. Farther Finance Advisors LLC now owns 1,656 shares of the biotechnology company’s stock worth $291,000 after purchasing an additional 607 shares during the last quarter. Bridgewater Advisors Inc. acquired a new stake in Biogen in the fourth quarter worth $204,000. Assetmark Inc. lifted its stake in Biogen by 15.5% in the fourth quarter. Assetmark Inc. now owns 2,392 shares of the biotechnology company’s stock valued at $421,000 after buying an additional 321 shares during the last quarter. Paragon Capital Management Inc. acquired a new position in shares of Biogen during the fourth quarter valued at $1,177,000. Finally, Old North State Wealth Management LLC grew its position in shares of Biogen by 6.9% during the fourth quarter. Old North State Wealth Management LLC now owns 23,809 shares of the biotechnology company’s stock worth $4,190,000 after acquiring an additional 1,540 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

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.