Analysts’ Weekly Ratings Changes for Biogen (BIIB)

Several analysts have recently updated their ratings and price targets for Biogen (NASDAQ: BIIB):

• 11/21/2024 – Biogen had its price target lowered by analysts at Mizuho from $251.00 to $207.00. They now have an “outperform” rating on the stock.
• 11/18/2024 – Biogen was downgraded by analysts at Needham & Company LLC from a “buy” rating to a “hold” rating. They now have a $270.00 price target on the stock.
• 11/15/2024 – Biogen is now covered by analysts at Wolfe Research. They set a “peer perform” rating on the stock.
• 11/15/2024 – Biogen had its price target raised by analysts at Robert W. Baird from $294.00 to $300.00. They now have an “outperform” rating on the stock.
• 11/14/2024 – Biogen is now covered by analysts at Citigroup Inc.. They set a “neutral” rating and a $190.00 price target on the stock.
• 11/13/2024 – Biogen was upgraded by analysts at Citigroup Inc. to a “hold” rating.
• 11/4/2024 – Biogen had its price target lowered by analysts at JPMorgan Chase & Co. from $220.00 to $210.00. They now have a “neutral” rating on the stock.
• 10/31/2024 – Biogen had its price target lowered by analysts at Oppenheimer Holdings Inc. from $270.00 to $255.00. They now have an “outperform” rating on the stock.
• 10/31/2024 – Biogen had its price target lowered by analysts at Barclays PLC from $190.00 to $180.00. They now have an “equal weight” rating on the stock.
• 10/31/2024 – Biogen was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating. They now have a $204.00 price target on the stock, down previously from $285.00.
• 10/31/2024 – Biogen had its price target lowered by analysts at TD Cowen from $300.00 to $275.00. They now have a “buy” rating on the stock.
• 10/31/2024 – Biogen had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $300.00 price target on the stock.
• 10/30/2024 – Biogen had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $270.00 price target on the stock.
• 10/17/2024 – Biogen had its price target lowered by analysts at BMO Capital Markets from $260.00 to $230.00. They now have an “outperform” rating on the stock.
• 10/10/2024 – Biogen had its “market perform” rating reaffirmed by analysts at Raymond James.
• 10/4/2024 – Biogen had its price target lowered by analysts at Royal Bank of Canada from $292.00 to $269.00. They now have an “outperform” rating on the stock.
• 10/3/2024 – Biogen had its price target lowered by analysts at UBS Group AG from $234.00 to $202.00. They now have a “neutral” rating on the stock.

Biogen Trading Up 0.5 %

Shares of BIIB stock traded up $0.80 on Monday, reaching $160.63. 1,109,608 shares of the stock were exchanged, compared to its average volume of 1,185,000. The stock has a market cap of $23.41 billion, a P/E ratio of 14.51, a price-to-earnings-growth ratio of 1.52 and a beta of -0.06. Biogen Inc. has a 1-year low of $153.62 and a 1-year high of $268.30. The firm has a 50 day moving average of $177.86 and a two-hundred day moving average of $202.76. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.77 by $0.31. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the company posted $4.36 earnings per share. On average, research analysts anticipate that Biogen Inc. will post 16.44 EPS for the current year.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the sale, the insider now owns 5,316 shares in the company, valued at $1,085,633.52. The trade was a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

Institutional Investors Weigh In On Biogen

Institutional investors have recently modified their holdings of the stock. Itau Unibanco Holding S.A. acquired a new stake in Biogen in the 2nd quarter worth approximately $33,000. Ashton Thomas Securities LLC bought a new stake in Biogen in the third quarter valued at about $33,000. Versant Capital Management Inc boosted its stake in Biogen by 123.2% in the 2nd quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 85 shares in the last quarter. Blue Trust Inc. increased its position in shares of Biogen by 249.0% during the 2nd quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 127 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Biogen by 39.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock worth $40,000 after acquiring an additional 49 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

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.