Biogen (NASDAQ:BIIB) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Biogen (NASDAQ:BIIB) had its price objective raised by investment analysts at Jefferies Financial Group from $190.00 to $210.00 in a note issued to investors on Friday,MarketScreener reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 15.81% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Rothschild & Co Redburn raised their price target on shares of Biogen from $149.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. William Blair reissued an “outperform” rating on shares of Biogen in a research note on Wednesday, September 24th. Robert W. Baird cut their price objective on Biogen from $255.00 to $250.00 in a research note on Friday, October 31st. HC Wainwright increased their target price on shares of Biogen from $187.00 to $194.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, Sanford C. Bernstein boosted their price target on shares of Biogen from $155.00 to $157.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. Ten investment analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $179.73.

Biogen Price Performance

BIIB traded down $0.61 during midday trading on Friday, hitting $181.33. The company had a trading volume of 101,771 shares, compared to its average volume of 1,620,365. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50. The company has a market capitalization of $26.60 billion, a PE ratio of 17.33, a P/E/G ratio of 1.17 and a beta of 0.10. The firm’s 50-day simple moving average is $153.78 and its 200-day simple moving average is $139.68. Biogen has a twelve month low of $110.04 and a twelve month high of $185.17.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.92. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same period last year, the business posted $4.08 earnings per share. The firm’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. Equities research analysts predict that Biogen will post 15.83 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Priya Singhal sold 517 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total value of $69,045.35. Following the completion of the transaction, the insider directly owned 5,772 shares in the company, valued at approximately $770,850.60. The trade was a 8.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is owned by corporate insiders.

Institutional Trading of Biogen

A number of hedge funds have recently modified their holdings of the business. Elevation Point Wealth Partners LLC purchased a new position in Biogen in the 2nd quarter worth approximately $25,000. Vision Financial Markets LLC purchased a new position in shares of Biogen in the first quarter worth approximately $27,000. Greykasell Wealth Strategies Inc. bought a new stake in shares of Biogen during the 1st quarter valued at $27,000. Rothschild Investment LLC increased its position in Biogen by 64.7% in the second quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock worth $28,000 after buying an additional 88 shares in the last quarter. Finally, Accredited Wealth Management LLC raised its stake in Biogen by 1,233.3% during the 3rd quarter. Accredited Wealth Management LLC now owns 200 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 185 shares during the period. Institutional investors own 87.93% of the company’s stock.

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.