Mizuho Issues Positive Forecast for Biogen (NASDAQ:BIIB) Stock Price

Biogen (NASDAQ:BIIB) had its price target raised by analysts at Mizuho from $169.00 to $177.00 in a research note issued on Monday,MarketScreener reports. The brokerage presently has an “outperform” rating on the biotechnology company’s stock. Mizuho’s price target would suggest a potential upside of 16.88% from the stock’s previous close.

BIIB has been the topic of several other reports. Morgan Stanley boosted their target price on Biogen from $144.00 to $149.00 and gave the stock an “equal weight” rating in a report on Friday, October 10th. Citigroup restated a “neutral” rating on shares of Biogen in a research note on Wednesday, September 24th. Sanford C. Bernstein increased their price target on shares of Biogen from $155.00 to $157.00 and gave the company a “market perform” rating in a report on Monday. Wells Fargo & Company boosted their price objective on shares of Biogen from $140.00 to $155.00 in a report on Friday. Finally, Wall Street Zen downgraded Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Nine research analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the stock. According to data from MarketBeat.com, Biogen currently has an average rating of “Hold” and an average price target of $176.42.

Biogen Stock Down 1.8%

Shares of NASDAQ:BIIB opened at $151.44 on Monday. The stock’s 50-day moving average is $144.51 and its 200 day moving average is $134.01. The company has a market cap of $22.20 billion, a PE ratio of 14.48, a P/E/G ratio of 1.17 and a beta of 0.13. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79. Biogen has a 1 year low of $110.04 and a 1 year high of $179.20.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, topping the consensus estimate of $3.89 by $0.92. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same period in the prior year, the business earned $4.08 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. Sell-side analysts anticipate that Biogen will post 15.83 EPS for the current year.

Insider Transactions at Biogen

In other Biogen news, insider Priya Singhal sold 517 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total transaction of $69,045.35. Following the completion of the sale, the insider directly owned 5,772 shares of the company’s stock, valued at approximately $770,850.60. This represents a 8.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Biogen

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Privium Fund Management B.V. grew its holdings in Biogen by 153.3% during the third quarter. Privium Fund Management B.V. now owns 51,925 shares of the biotechnology company’s stock valued at $7,274,000 after purchasing an additional 31,425 shares during the period. Keybank National Association OH grew its stake in shares of Biogen by 2.0% during the 3rd quarter. Keybank National Association OH now owns 8,254 shares of the biotechnology company’s stock valued at $1,156,000 after acquiring an additional 161 shares during the period. National Pension Service increased its holdings in Biogen by 4.4% in the 3rd quarter. National Pension Service now owns 285,202 shares of the biotechnology company’s stock worth $39,951,000 after acquiring an additional 12,147 shares in the last quarter. Arizona State Retirement System raised its stake in Biogen by 1.6% during the 3rd quarter. Arizona State Retirement System now owns 43,419 shares of the biotechnology company’s stock worth $6,082,000 after acquiring an additional 666 shares during the period. Finally, SYM FINANCIAL Corp bought a new stake in Biogen during the 3rd quarter worth approximately $237,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

About Biogen

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.