Biogen (NASDAQ:BIIB) Raised to Buy at Stifel Nicolaus

Biogen (NASDAQ:BIIB) was upgraded by research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research note issued on Thursday, MarketBeat.com reports. The firm presently has a $202.00 target price on the biotechnology company’s stock, up from their prior target price of $144.00. Stifel Nicolaus’ price objective points to a potential upside of 29.90% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Citigroup reiterated a “neutral” rating on shares of Biogen in a report on Wednesday, September 24th. Tudor Pickering set a $157.00 price target on shares of Biogen in a report on Monday. BMO Capital Markets boosted their price objective on shares of Biogen from $128.00 to $150.00 in a research report on Friday, October 31st. HC Wainwright raised their target price on shares of Biogen from $187.00 to $194.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Finally, Truist Financial initiated coverage on shares of Biogen in a research note on Monday, July 21st. They set a “hold” rating and a $142.00 target price on the stock. Ten investment analysts have rated the stock with a Buy rating and eighteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $177.46.

Biogen Trading Down 0.8%

Shares of BIIB stock opened at $155.51 on Thursday. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average price of $146.06 and a two-hundred day moving average price of $134.78. Biogen has a 12-month low of $110.04 and a 12-month high of $175.86. The firm has a market cap of $22.81 billion, a P/E ratio of 14.87, a price-to-earnings-growth ratio of 1.17 and a beta of 0.10.

Biogen (NASDAQ:BIIB) last announced 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. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.34 billion. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The company’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the company earned $4.08 EPS. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. Equities analysts anticipate that Biogen will post 15.83 EPS for the current fiscal year.

Insider Buying and Selling

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 transaction of $69,045.35. Following the completion of the sale, the insider directly owned 5,772 shares in the company, valued at approximately $770,850.60. This trade represents a 8.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Biogen

Hedge funds have recently added to or reduced their stakes in the company. CVA Family Office LLC boosted its stake in Biogen by 18.1% during the 3rd quarter. CVA Family Office LLC now owns 464 shares of the biotechnology company’s stock valued at $65,000 after purchasing an additional 71 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Biogen by 22.5% during the third quarter. TD Private Client Wealth LLC now owns 414 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 76 shares in the last quarter. Wedmont Private Capital boosted its position in shares of Biogen by 3.8% during the second quarter. Wedmont Private Capital now owns 2,190 shares of the biotechnology company’s stock valued at $291,000 after buying an additional 81 shares during the last quarter. CX Institutional increased its holdings in Biogen by 6.1% in the 3rd quarter. CX Institutional now owns 1,453 shares of the biotechnology company’s stock worth $204,000 after buying an additional 83 shares in the last quarter. Finally, Rothschild Investment LLC increased its holdings in Biogen by 64.7% in the 2nd 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. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

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.