Biogen (NASDAQ:BIIB) Raised to “Strong-Buy” at Wall Street Zen

Biogen (NASDAQ:BIIB) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Sunday.

BIIB has been the subject of a number of other reports. Wedbush reiterated a “neutral” rating and issued a $121.00 price target on shares of Biogen in a research note on Thursday, June 12th. Jefferies Financial Group assumed coverage on Biogen in a research note on Thursday, September 25th. They issued a “buy” rating and a $190.00 price target for the company. Truist Financial initiated coverage on Biogen in a research note on Monday, July 21st. They issued a “hold” rating and a $142.00 price target for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a research report on Wednesday, September 24th. Finally, HC Wainwright raised their target price on Biogen from $187.00 to $194.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Eleven investment analysts have rated the stock with a Buy rating and twenty have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $182.04.

Biogen Price Performance

NASDAQ:BIIB opened at $138.52 on Friday. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36. The stock’s 50 day moving average price is $136.29 and its two-hundred day moving average price is $130.47. The firm has a market capitalization of $20.31 billion, a price-to-earnings ratio of 13.24, a P/E/G ratio of 1.08 and a beta of 0.11. Biogen has a 12-month low of $110.04 and a 12-month high of $195.00.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.93 by $1.54. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.32 billion. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $5.28 EPS. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. On average, analysts anticipate that Biogen will post 15.83 earnings per share for the current year.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 517 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total transaction of $69,045.35. Following the completion of the sale, the insider directly owned 5,772 shares in the company, valued at $770,850.60. This represents a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Rachid Izzar sold 2,223 shares of the company’s stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total transaction of $300,105.00. Following the sale, the insider owned 6,330 shares of the company’s stock, valued at approximately $854,550. The trade was a 25.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Institutional Trading of Biogen

Several institutional investors and hedge funds have recently bought and sold shares of BIIB. Vanguard Group Inc. increased its stake in shares of Biogen by 1.5% during the second quarter. Vanguard Group Inc. now owns 17,290,651 shares of the biotechnology company’s stock valued at $2,171,533,000 after purchasing an additional 257,812 shares in the last quarter. State Street Corp boosted its holdings in Biogen by 1.0% in the second quarter. State Street Corp now owns 7,468,807 shares of the biotechnology company’s stock worth $938,007,000 after purchasing an additional 71,897 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Biogen by 1.9% in the second quarter. Geode Capital Management LLC now owns 3,918,150 shares of the biotechnology company’s stock worth $490,089,000 after purchasing an additional 71,286 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Biogen by 2.4% during the 2nd quarter. Invesco Ltd. now owns 2,320,126 shares of the biotechnology company’s stock worth $291,385,000 after acquiring an additional 55,119 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Biogen during the 2nd quarter worth $284,358,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

About Biogen

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.