Biogen (NASDAQ:BIIB) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Biogen (NASDAQ:BIIB) from a neutral rating to an overweight rating in a research report released on Monday morning, MarketBeat Ratings reports. They currently have $300.00 target price on the biotechnology company’s stock, up from their prior target price of $210.00.

BIIB has been the subject of a number of other research reports. TD Cowen lifted their target price on shares of Biogen from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Needham & Company LLC increased their price target on Biogen from $255.00 to $256.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Wall Street Zen downgraded Biogen from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Piper Sandler restated an “overweight” rating and issued a $245.00 price target (up from $225.00) on shares of Biogen in a research report on Thursday, September 3rd. Finally, Wolfe Research raised Biogen from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a research note on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Biogen presently has an average rating of “Moderate Buy” and an average price target of $236.04.

Biogen Stock Up 1.7%

Shares of NASDAQ BIIB opened at $232.83 on Monday. The firm has a market capitalization of $34.40 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 2.53 and a beta of 0.09. The company has a current ratio of 1.87, a quick ratio of 1.26 and a debt-to-equity ratio of 0.39. Biogen has a 1 year low of $138.00 and a 1 year high of $238.24. The firm’s 50-day moving average is $218.89 and its 200-day moving average is $203.29.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.94 by $0.66. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the previous year, the firm posted $5.47 earnings per share. Biogen’s revenue for the quarter was up 3.4% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Equities analysts expect that Biogen will post 12.41 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Biogen during the second quarter worth about $3,453,878,000. Orbimed Advisors LLC bought a new position in Biogen in the first quarter valued at approximately $11,293,000. Nippon Life Global Investors Americas Inc. bought a new position in Biogen in the second quarter valued at approximately $29,648,000. Handelsbanken Fonder AB increased its position in shares of Biogen by 12.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 93,236 shares of the biotechnology company’s stock worth $20,145,000 after purchasing an additional 10,510 shares during the last quarter. Finally, Tidal Investments LLC increased its position in shares of Biogen by 9.0% during the 2nd quarter. Tidal Investments LLC now owns 63,842 shares of the biotechnology company’s stock worth $13,794,000 after purchasing an additional 5,256 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

About Biogen

Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for serious neurological and neurodegenerative diseases. Its research focuses on conditions including multiple sclerosis, spinal muscular atrophy, Alzheimer’s disease, amyotrophic lateral sclerosis and rare neuromuscular disorders.

Biogen’s products include Spinraza (nusinersen) for spinal muscular atrophy, Tysabri (natalizumab) and Tecfidera (dimethyl fumarate) for multiple sclerosis, Qalsody (tofersen) for a genetically defined form of ALS, and Skyclarys (omaveloxolone) for Friedreich’s ataxia.