Biogen (NASDAQ:BIIB) Price Target Raised to $200.00 at Morgan Stanley
by Jessica Moore · The Cerbat GemBiogen (NASDAQ:BIIB – Get Free Report) had its target price upped by equities research analysts at Morgan Stanley from $190.00 to $200.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the biotechnology company’s stock. Morgan Stanley’s target price points to a potential upside of 14.68% from the company’s current price.
A number of other research firms have also issued reports on BIIB. Truist Financial increased their price target on shares of Biogen from $190.00 to $193.00 and gave the stock a “hold” rating in a research report on Monday, February 9th. Oppenheimer increased their price objective on Biogen from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Wednesday, April 1st. Wedbush increased their price objective on Biogen from $187.00 to $191.00 and gave the stock a “neutral” rating in a report on Wednesday, April 1st. The Goldman Sachs Group restated a “buy” rating on shares of Biogen in a report on Monday, February 9th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Biogen in a report on Monday, December 29th. Twelve equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $207.92.
Check Out Our Latest Stock Analysis on Biogen
Biogen Price Performance
NASDAQ BIIB traded down $2.71 on Friday, reaching $174.40. The company’s stock had a trading volume of 125,795 shares, compared to its average volume of 1,319,684. Biogen has a twelve month low of $112.18 and a twelve month high of $202.41. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.03 and a current ratio of 2.68. The stock has a market cap of $25.60 billion, a PE ratio of 19.76, a PEG ratio of 2.40 and a beta of 0.16. The firm’s 50 day moving average is $186.73 and its two-hundred day moving average is $172.25.
Biogen (NASDAQ:BIIB – Get Free Report) last announced its earnings results on Friday, February 6th. The biotechnology company reported $1.99 EPS for the quarter, topping the consensus estimate of $1.61 by $0.38. The company had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.21 billion. Biogen had a net margin of 13.07% and a return on equity of 12.64%. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same period last year, the company posted $3.44 earnings per share. Biogen has set its FY 2026 guidance at 15.250-16.250 EPS. As a group, sell-side analysts predict that Biogen will post 15.83 EPS for the current year.
Insider Buying and Selling
In other Biogen news, insider Priya Singhal sold 2,660 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $199.83, for a total transaction of $531,547.80. Following the transaction, the insider owned 8,043 shares in the company, valued at $1,607,232.69. This trade represents a 24.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Biogen
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Biogen by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 17,447,092 shares of the biotechnology company’s stock valued at $3,070,514,000 after purchasing an additional 157,857 shares during the last quarter. State Street Corp grew its holdings in Biogen by 1.0% during the second quarter. State Street Corp now owns 7,468,807 shares of the biotechnology company’s stock valued at $938,007,000 after purchasing an additional 71,897 shares during the last quarter. Geode Capital Management LLC grew its holdings in Biogen by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 4,199,399 shares of the biotechnology company’s stock valued at $736,435,000 after purchasing an additional 130,618 shares during the last quarter. Norges Bank acquired a new position in Biogen during the fourth quarter valued at approximately $464,408,000. Finally, Invesco Ltd. grew its holdings in Biogen by 4.2% during the third quarter. Invesco Ltd. now owns 2,418,127 shares of the biotechnology company’s stock valued at $338,731,000 after purchasing an additional 98,001 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.
Biogen Company Profile
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.