Biogen (NASDAQ:BIIB) Price Target Raised to $178.00

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

A number of other research firms have also recently issued reports on BIIB. Tudor Pickering set a $157.00 price objective on Biogen in a report on Monday, November 3rd. Hsbc Global Res cut shares of Biogen from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 10th. Royal Bank Of Canada restated an “outperform” rating on shares of Biogen in a report on Tuesday, January 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Biogen in a research note on Monday, December 29th. Finally, Citigroup increased their target price on shares of Biogen from $153.00 to $180.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Ten research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $191.85.

Biogen Stock Performance

NASDAQ:BIIB opened at $171.59 on Friday. The stock has a market cap of $25.17 billion, a P/E ratio of 15.64, a PEG ratio of 1.43 and a beta of 0.13. The company has a quick ratio of 2.04, a current ratio of 2.72 and a debt-to-equity ratio of 0.35. The business’s 50-day moving average price is $175.80 and its two-hundred day moving average price is $153.45. Biogen has a twelve month low of $110.04 and a twelve month high of $190.20.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BIIB. Elevation Point Wealth Partners LLC bought a new stake in shares of Biogen during the 2nd quarter valued at about $25,000. Rothschild Investment LLC raised its position in shares of Biogen by 64.7% in the 2nd quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 88 shares during the last quarter. Accredited Wealth Management LLC lifted its stake in shares of Biogen by 1,233.3% in the third quarter. Accredited Wealth Management LLC now owns 200 shares of the biotechnology company’s stock worth $28,000 after buying an additional 185 shares in the last quarter. Concord Wealth Partners boosted its stake in Biogen by 100.0% during the 2nd quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 114 shares during the last quarter. Finally, NewSquare Capital LLC increased its holdings in Biogen by 134.6% in the 2nd quarter. NewSquare Capital LLC now owns 244 shares of the biotechnology company’s stock worth $31,000 after buying an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

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.