Biogen (NASDAQ:BIIB) Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of Biogen (NASDAQ:BIIB) from a strong-buy rating to a buy rating in a report released on Saturday morning.

BIIB has been the subject of several other research reports. Wedbush lifted their price target on Biogen from $129.00 to $135.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Citigroup reiterated a “neutral” rating on shares of Biogen in a research report on Wednesday, September 24th. Weiss Ratings upgraded Biogen from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 24th. Piper Sandler lifted their price target on Biogen from $115.00 to $118.00 and gave the stock a “neutral” rating in a research report on Friday, September 12th. Finally, Robert W. Baird dropped their price target on Biogen from $255.00 to $250.00 in a research report on Friday. Nine research analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $176.12.

Biogen Stock Down 1.8%

BIIB opened at $151.44 on Friday. The firm has a 50-day simple moving average of $144.51 and a two-hundred day simple moving average of $134.01. Biogen has a 52 week low of $110.04 and a 52 week high of $179.20. The company has a market capitalization of $22.20 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 1.17 and a beta of 0.13. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter in the prior year, the firm earned $4.08 EPS. The business’s revenue was up 2.8% on a year-over-year basis. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. Analysts forecast that Biogen will post 15.83 earnings per share for the current fiscal year.

Insider Transactions at Biogen

In other Biogen news, insider Priya Singhal sold 517 shares of the firm’s stock in a transaction dated 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 sale, the insider owned 5,772 shares of the company’s stock, valued at $770,850.60. This trade represents a 8.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by insiders.

Institutional Trading of Biogen

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Biogen by 1.5% in the second quarter. Vanguard Group Inc. now owns 17,290,651 shares of the biotechnology company’s stock worth $2,171,533,000 after purchasing an additional 257,812 shares during the last quarter. State Street Corp lifted its stake 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 raised its stake in shares of Biogen by 1.9% during the second quarter. Geode Capital Management LLC now owns 3,918,150 shares of the biotechnology company’s stock valued at $490,089,000 after acquiring an additional 71,286 shares in the last quarter. Invesco Ltd. raised its stake in shares of Biogen by 2.4% during the second quarter. Invesco Ltd. now owns 2,320,126 shares of the biotechnology company’s stock valued at $291,385,000 after acquiring an additional 55,119 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Biogen during the second quarter valued at approximately $284,358,000. Institutional investors own 87.93% of the company’s stock.

Biogen Company Profile

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.