Biogen (NASDAQ:BIIB) Price Target Lowered to $210.00 at Wedbush

Biogen (NASDAQ:BIIB) had its price target reduced by Wedbush from $215.00 to $210.00 in a report published on Friday, Benzinga reports. They currently have a neutral rating on the biotechnology company’s stock. Wedbush also issued estimates for Biogen’s FY2024 earnings at $16.03 EPS, Q1 2025 earnings at $3.47 EPS, Q2 2025 earnings at $3.32 EPS, Q3 2025 earnings at $3.73 EPS, Q4 2025 earnings at $3.90 EPS, FY2025 earnings at $14.43 EPS, FY2026 earnings at $17.28 EPS and FY2028 earnings at $18.28 EPS.

Several other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Biogen from $270.00 to $240.00 and set a neutral rating on the stock in a report on Thursday, April 11th. Oppenheimer reaffirmed an outperform rating and issued a $270.00 target price on shares of Biogen in a report on Monday, April 29th. HSBC raised their price target on shares of Biogen from $339.00 to $342.00 and gave the company a buy rating in a report on Friday, May 3rd. Truist Financial reiterated a buy rating and set a $340.00 price objective on shares of Biogen in a research report on Thursday, May 16th. Finally, Piper Sandler dropped their target price on Biogen from $335.00 to $313.00 and set an overweight rating on the stock in a research report on Friday, July 12th. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $277.50.

Biogen Stock Down 3.5 %

Shares of NASDAQ:BIIB traded down $7.27 during trading on Friday, reaching $198.39. 1,394,287 shares of the stock were exchanged, compared to its average volume of 1,151,694. Biogen has a 1-year low of $189.44 and a 1-year high of $278.95. The firm has a market cap of $28.89 billion, a price-to-earnings ratio of 25.11, a price-to-earnings-growth ratio of 2.09 and a beta of -0.04. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.32. The stock has a fifty day moving average of $225.01 and a two-hundred day moving average of $222.82.

Biogen (NASDAQ:BIIB) last issued its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.00 by $1.28. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The company’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter last year, the business earned $4.02 earnings per share. Research analysts anticipate that Biogen will post 15.87 earnings per share for the current fiscal year.

Institutional Trading of Biogen

Several hedge funds have recently made changes to their positions in BIIB. Plato Investment Management Ltd lifted its holdings in Biogen by 82.8% during the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 53 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of Biogen in the fourth quarter worth $26,000. Rise Advisors LLC purchased a new stake in Biogen in the 1st quarter worth approximately $27,000. Hexagon Capital Partners LLC grew its holdings in Biogen by 76.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 51 shares during the period. Finally, EntryPoint Capital LLC purchased a new stake in Biogen during the 1st quarter worth approximately $36,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

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.