Biogen (NASDAQ:BIIB) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Biogen (NASDAQ:BIIB) from a buy rating to a hold rating in a report released on Saturday.

Several other brokerages also recently weighed in on BIIB. Barclays lifted their target price on Biogen from $185.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday. Evercore started coverage on Biogen in a report on Friday, May 15th. They set an “outperform” rating on the stock. Sanford C. Bernstein cut their price objective on shares of Biogen from $201.00 to $200.00 in a research note on Thursday, April 30th. TD Cowen upped their price objective on shares of Biogen from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday. Finally, The Goldman Sachs Group increased their target price on shares of Biogen from $231.00 to $238.00 and gave the company a “buy” rating in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $223.36.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $202.95 on Friday. The firm’s 50 day moving average is $201.23 and its two-hundred day moving average is $190.60. Biogen has a 52 week low of $124.56 and a 52 week high of $219.72. The firm has a market capitalization of $29.99 billion, a P/E ratio of 35.92, a PEG ratio of 6.28 and a beta of 0.16. The company has a current ratio of 1.87, a quick ratio of 2.41 and a debt-to-equity ratio of 0.39.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.46 billion. During the same quarter in the previous year, the company posted $5.47 earnings per share. The business’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. Analysts anticipate that Biogen will post 12.65 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BIIB. Reflection Asset Management acquired a new position in shares of Biogen in the 4th quarter valued at about $25,000. WPG Advisers LLC boosted its holdings in shares of Biogen by 417.9% during the fourth 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 purchased a new position in Biogen during the fourth quarter valued at approximately $30,000. Root Financial Partners LLC increased its stake in Biogen by 198.4% in the 4th quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 123 shares during the period. Finally, MV Capital Management Inc. acquired a new position in Biogen in the 4th quarter valued at approximately $34,000. Institutional investors own 87.93% of the company’s stock.

Key Stories 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

About Biogen

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.