Biogen (NASDAQ:BIIB) Price Target Raised to $231.00

Biogen (NASDAQ:BIIB) had its price target raised by Morgan Stanley from $222.00 to $231.00 in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage currently has an equal weight rating on the biotechnology company’s stock.

Several other equities research analysts have also recently issued reports on BIIB. Citigroup lifted their price objective on shares of Biogen from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. The Goldman Sachs Group upped their target price on shares of Biogen from $231.00 to $238.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Wedbush lifted their price target on shares of Biogen from $201.00 to $215.00 and gave the company a “neutral” rating in a report on Thursday. Jefferies Financial Group reiterated a “buy” rating on shares of Biogen in a research note on Monday, July 13th. Finally, Argus raised shares of Biogen to a “hold” rating in a report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $223.36.

Biogen Stock Performance

NASDAQ BIIB opened at $202.95 on Thursday. The firm has a market cap of $29.99 billion, a price-to-earnings ratio of 35.92, a price-to-earnings-growth ratio of 6.28 and a beta of 0.16. The company has a quick ratio of 2.41, a current ratio of 1.87 and a debt-to-equity ratio of 0.39. The business has a 50-day moving average price of $201.23 and a 200-day moving average price of $190.60. Biogen has a twelve month low of $124.56 and a twelve month high of $219.72.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.66. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the company earned $5.47 EPS. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, equities research analysts predict that Biogen will post 12.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BIIB. Reflection Asset Management purchased a new position in shares of Biogen during the 4th quarter worth about $25,000. WPG Advisers LLC raised its position in Biogen by 417.9% in the 4th quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 117 shares during the period. First Horizon Corp bought a new stake in Biogen in the fourth quarter worth about $30,000. Root Financial Partners LLC lifted its stake in Biogen by 198.4% in the fourth quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 123 shares during the last quarter. Finally, MV Capital Management Inc. purchased a new position in shares of Biogen during the fourth quarter valued at approximately $34,000. Institutional investors own 87.93% of the company’s stock.

Key Headlines Impacting Biogen

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Biogen reported second-quarter revenue of $2.74 billion, up 3.4% year over year and ahead of consensus estimates of approximately $2.46 billion. Growth was led by newer products and the company’s growth portfolio, helping adjusted EPS reach $3.60 versus the $2.94 analyst estimate. Biogen beats quarterly estimates as newer drugs drive growth
• Positive Sentiment: Management raised its revenue outlook and highlighted continued momentum in newer medicines and strategic acquisitions, supporting the view that Biogen is gradually reducing its reliance on older products. Biogen raises revenue outlook as growth portfolio drives Q2 beat
• Positive Sentiment: Several analysts became more constructive after the results. TD Cowen raised its price target to $225 and upgraded the stock to Buy, while Morgan Stanley increased its target to $231, although it retained an Equal Weight rating. Barclays also expects the shares to rise.
• Neutral Sentiment: Wedbush raised its price target from $201 to $215 but maintained a Neutral rating, and Piper Sandler reaffirmed its Buy rating. Zacks upgraded Biogen from Strong Sell to Hold, indicating improving sentiment but not broad analyst conviction.
• Negative Sentiment: Reported profitability deteriorated substantially. Second-quarter net income fell to $97.5 million, while diluted EPS from continuing operations declined to $0.66 from $4.33 a year earlier; first-half net income also dropped to $417 million from $875.3 million. The sharp gap between revenue growth and reported earnings is raising concerns that profitability may be peaking. Biogen earnings and profitability analysis

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.