Biogen (NASDAQ:BIIB) Price Target Raised to $191.00

Biogen (NASDAQ:BIIB) had its price target increased by Wedbush from $187.00 to $191.00 in a research note published on Wednesday,MarketScreener reports. The brokerage currently has a neutral rating on the biotechnology company’s stock.

A number of other research firms have also weighed in on BIIB. Wells Fargo & Company boosted their target price on Biogen from $190.00 to $200.00 and gave the company an “equal weight” rating in a research note on Sunday, February 8th. Morgan Stanley set a $190.00 price target on Biogen in a research report on Sunday, February 8th. Truist Financial boosted their price objective on Biogen from $190.00 to $193.00 and gave the company a “hold” rating in a research report on Monday, February 9th. Piper Sandler increased their price objective on Biogen from $157.00 to $177.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Finally, UBS Group assumed coverage on shares of Biogen in a report on Tuesday, January 6th. They issued a “neutral” rating and a $185.00 target price on the stock. Twelve investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Biogen has an average rating of “Hold” and an average target price of $208.31.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $177.34 on Wednesday. The company has a quick ratio of 2.03, a current ratio of 2.68 and a debt-to-equity ratio of 0.34. The stock has a market cap of $26.03 billion, a PE ratio of 20.13, a PEG ratio of 2.37 and a beta of 0.16. The company’s fifty day moving average is $186.60 and its 200 day moving average is $171.35. Biogen has a 52 week low of $110.04 and a 52 week high of $202.41.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Friday, February 6th. The biotechnology company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.38. Biogen had a net margin of 13.07% and a return on equity of 12.64%. The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same period in the prior year, the business posted $3.44 earnings per share. The company’s revenue was down 7.2% on a year-over-year basis. Biogen has set its FY 2026 guidance at 15.250-16.250 EPS. Research analysts anticipate that Biogen will post 15.83 earnings per share for the current year.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 2,660 shares of the business’s stock in a transaction dated 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. The trade was a 24.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Biogen

A number of large investors have recently made changes to their positions in the business. Elevation Point Wealth Partners LLC purchased a new position in shares of Biogen during the second quarter valued at approximately $25,000. Reflection Asset Management purchased a new stake in Biogen in the fourth quarter worth $25,000. WPG Advisers LLC lifted its stake in Biogen by 417.9% in the fourth quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock worth $26,000 after acquiring an additional 117 shares during the period. Accredited Wealth Management LLC boosted its holdings in Biogen by 1,233.3% in the third quarter. Accredited Wealth Management LLC now owns 200 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 185 shares in the last quarter. Finally, First Horizon Corp bought a new stake in Biogen in the fourth quarter valued at $30,000. 87.93% of the stock is currently owned by institutional investors.

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.