Biogen (NASDAQ:BIIB) Price Target Raised to $256.00 at Needham & Company LLC

Biogen (NASDAQ:BIIB) had its price objective boosted by research analysts at Needham & Company LLC from $255.00 to $256.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. Needham & Company LLC’s target price points to a potential upside of 18.50% from the company’s current price.

BIIB has been the topic of several other reports. Mizuho cut their price objective on shares of Biogen from $236.00 to $221.00 and set an “outperform” rating on the stock in a report on Monday, June 15th. Piper Sandler reaffirmed an “overweight” rating and set a $225.00 target price (up from $214.00) on shares of Biogen in a research report on Friday, May 15th. Rothschild & Co Redburn lifted their price target on Biogen from $180.00 to $190.00 in a report on Thursday, April 30th. Wall Street Zen upgraded Biogen from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Oppenheimer raised their price objective on Biogen from $275.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $217.41.

Biogen Stock Performance

BIIB stock opened at $216.03 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.06 and a quick ratio of 2.41. The business has a 50-day moving average price of $193.37 and a 200 day moving average price of $185.71. The company has a market capitalization of $31.89 billion, a P/E ratio of 23.18 and a beta of 0.20. Biogen has a 1-year low of $121.05 and a 1-year high of $218.06.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.95 by $0.62. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same period in the prior year, the firm earned $3.02 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. As a group, equities research analysts forecast that Biogen will post 13.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Biogen

Several institutional investors have recently added to or reduced their stakes in BIIB. Reflection Asset Management acquired a new stake in Biogen in the 4th quarter worth approximately $25,000. WPG Advisers LLC raised its holdings in shares of 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 buying an additional 117 shares during the last quarter. First Horizon Corp purchased a new position in shares of Biogen in the fourth quarter worth $30,000. WFA of San Diego LLC acquired a new stake in shares of Biogen during the second quarter worth $32,000. Finally, Root Financial Partners LLC grew its holdings in shares of Biogen by 198.4% during the fourth 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 last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

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.