Biogen (BIIB) – Investment Analysts’ Weekly Ratings Changes

Biogen (NASDAQ: BIIB) recently received a number of ratings updates from brokerages and research firms:

• 10/17/2024 – Biogen had its price target lowered by analysts at BMO Capital Markets from $260.00 to $230.00. They now have an “outperform” rating on the stock.
• 10/10/2024 – Biogen had its “market perform” rating reaffirmed by analysts at Raymond James.
• 10/4/2024 – Biogen had its price target lowered by analysts at Royal Bank of Canada from $292.00 to $269.00. They now have an “outperform” rating on the stock.
• 10/3/2024 – Biogen had its price target lowered by analysts at UBS Group AG from $234.00 to $202.00. They now have a “neutral” rating on the stock.
• 9/24/2024 – Biogen had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $285.00 price target on the stock.
• 9/23/2024 – Biogen had its price target lowered by analysts at Wedbush from $210.00 to $205.00. They now have a “neutral” rating on the stock.
• 9/19/2024 – Biogen had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $292.00 price target on the stock.
• 9/9/2024 – Biogen had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $292.00 price target on the stock.
• 9/4/2024 – Biogen had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $285.00 price target on the stock.
• 9/2/2024 – Biogen was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.

Biogen Price Performance

NASDAQ:BIIB opened at $184.65 on Tuesday. The stock has a 50 day moving average of $196.76 and a two-hundred day moving average of $210.79. Biogen Inc. has a 12 month low of $181.31 and a 12 month high of $268.30. The firm has a market cap of $26.88 billion, a P/E ratio of 23.05, a price-to-earnings-growth ratio of 1.87 and a beta of -0.06. The company has a current ratio of 2.29, a quick ratio of 1.48 and a debt-to-equity ratio of 0.40.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.00 by $1.28. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same period in the previous year, the business posted $4.02 earnings per share. Biogen’s quarterly revenue was up .4% on a year-over-year basis. On average, analysts expect that Biogen Inc. will post 16.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Biogen news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the sale, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BIIB. KCM Investment Advisors LLC boosted its stake in shares of Biogen by 1.7% in the 1st quarter. KCM Investment Advisors LLC now owns 2,953 shares of the biotechnology company’s stock valued at $637,000 after buying an additional 48 shares during the period. First Horizon Advisors Inc. lifted its position in shares of Biogen by 39.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 49 shares during the last quarter. TFB Advisors LLC increased its holdings in Biogen by 2.1% in the first quarter. TFB Advisors LLC now owns 2,450 shares of the biotechnology company’s stock valued at $530,000 after buying an additional 50 shares during the last quarter. QRG Capital Management Inc. raised its stake in Biogen by 2.0% in the first quarter. QRG Capital Management Inc. now owns 2,634 shares of the biotechnology company’s stock valued at $568,000 after buying an additional 51 shares in the last quarter. Finally, Plato Investment Management Ltd lifted its holdings in Biogen by 82.8% during the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after buying an additional 53 shares during the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer’s disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.