Biogen (NASDAQ:BIIB) Given New $300.00 Price Target at Oppenheimer

Biogen (NASDAQ:BIIB) had its price target lifted by equities researchers at Oppenheimer from $275.00 to $300.00 in a note issued to investors on Thursday,MarketScreener reports. The firm currently has an “outperform” rating on the biotechnology company’s stock. Oppenheimer’s price target indicates a potential upside of 55.47% from the stock’s current price.

Several other research firms also recently weighed in on BIIB. Piper Sandler reiterated an “overweight” rating and set a $225.00 price target on shares of Biogen in a research note on Friday. Stifel Nicolaus increased their target price on shares of Biogen from $202.00 to $214.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Citigroup lifted their target price on shares of Biogen from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Truist Financial dropped their price target on shares of Biogen from $193.00 to $189.00 and set a “hold” rating on the stock in a research note on Monday, April 13th. Finally, HSBC lifted their price objective on shares of Biogen from $143.00 to $150.00 and gave the company a “reduce” rating in a research note on Tuesday, March 17th. 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. According to data from MarketBeat, Biogen presently has an average rating of “Moderate Buy” and an average target price of $215.62.

Biogen Stock Performance

Shares of BIIB stock traded up $1.60 during trading hours on Thursday, hitting $192.97. 207,294 shares of the company were exchanged, compared to its average volume of 1,298,386. The company has a current ratio of 3.06, a quick ratio of 2.41 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $28.49 billion, a price-to-earnings ratio of 20.67, a P/E/G ratio of 1.80 and a beta of 0.19. The firm has a fifty day simple moving average of $185.15 and a 200 day simple moving average of $179.24. Biogen has a 52-week low of $121.05 and a 52-week high of $205.97.

Biogen (NASDAQ:BIIB) last posted 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. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the prior year, the business earned $3.02 earnings per share. Biogen’s revenue for the quarter was up 1.9% on a year-over-year basis. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Research analysts predict that Biogen will post 14.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Convergence Investment Partners LLC purchased a new stake in Biogen in the third quarter valued at approximately $1,342,000. Caprock Group LLC purchased a new position in Biogen in the 3rd quarter worth approximately $742,000. Leuthold Group LLC purchased a new position in Biogen in the 3rd quarter worth approximately $3,294,000. Generali Investments Management Co LLC increased its holdings in shares of Biogen by 408.2% in the 3rd quarter. Generali Investments Management Co LLC now owns 9,970 shares of the biotechnology company’s stock worth $1,397,000 after buying an additional 8,008 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Biogen by 9.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 67,010 shares of the biotechnology company’s stock worth $9,387,000 after buying an additional 5,987 shares during the last quarter. 87.93% of the stock is owned by institutional investors.

More Biogen News

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.