Biogen (NASDAQ:BIIB) Stock Bumped Up to "Overweight" by JPMorgan Chase & Co.

Key Points

• JPMorgan upgraded Biogen to “overweight” from “neutral” and raised its price target to $300 from $210, implying 32.91% upside from the prior close.
• Analyst sentiment remains broadly positive, with Biogen carrying a “Moderate Buy” consensus rating and an average price target of $235.18.
• Biogen exceeded quarterly expectations, reporting $3.60 in EPS versus a $2.94 estimate and $2.74 billion in revenue versus $2.46 billion expected; institutional investors own 87.93% of its shares.

Biogen (NASDAQ:BIIB - Get Free Report) was upgraded by analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a $300.00 price objective on the biotechnology company's stock, up from their previous price objective of $210.00. JPMorgan Chase & Co.'s target price would suggest a potential upside of 32.91% from the stock's previous close.

Several other equities analysts have also issued reports on the stock. Oppenheimer reissued an "outperform" rating and issued a $300.00 price target on shares of Biogen in a report on Wednesday, July 29th. Royal Bank Of Canada dropped their price objective on Biogen from $260.00 to $256.00 and set an "outperform" rating on the stock in a research note on Thursday. Wall Street Zen downgraded Biogen from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. TD Cowen lifted their target price on Biogen from $215.00 to $225.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Finally, Morgan Stanley lifted their target price on Biogen from $222.00 to $231.00 and gave the stock an "equal weight" rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $235.18.

Biogen Stock Performance

Shares of NASDAQ:BIIB opened at $225.71 on Monday. The firm's 50 day simple moving average is $217.41 and its 200 day simple moving average is $202.40. Biogen has a fifty-two week low of $138.00 and a fifty-two week high of $230.49. The company has a market capitalization of $33.35 billion, a price-to-earnings ratio of 39.95, a P/E/G ratio of 2.49 and a beta of 0.09. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.87 and a quick ratio of 1.26.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.94 by $0.66. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The firm had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.46 billion. During the same quarter in the previous year, the company earned $5.47 earnings per share. The business's revenue for the quarter was up 3.4% on a year-over-year basis. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, sell-side analysts forecast that Biogen will post 12.41 earnings per share for the current year.

Institutional Investors Weigh In On Biogen

Several large investors have recently made changes to their positions in the stock. Polaris Financial Partners bought a new stake in Biogen in the third quarter valued at approximately $109,000. Boltwood Capital Management increased its position in Biogen by 33.1% during the 3rd quarter. Boltwood Capital Management now owns 1,982 shares of the biotechnology company's stock worth $448,000 after buying an additional 493 shares during the period. QRG Capital Management Inc. increased its position in Biogen by 47.9% during the 2nd quarter. QRG Capital Management Inc. now owns 48,819 shares of the biotechnology company's stock worth $10,548,000 after buying an additional 15,817 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Biogen by 20.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 1,738 shares of the biotechnology company's stock worth $376,000 after buying an additional 296 shares in the last quarter. Finally, Tidal Investments LLC lifted its holdings in shares of Biogen by 9.0% during the second quarter. Tidal Investments LLC now owns 63,842 shares of the biotechnology company's stock worth $13,794,000 after buying an additional 5,256 shares in the last quarter. Institutional investors own 87.93% of the company's stock.

About Biogen

Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for serious neurological and neurodegenerative diseases. Its research focuses on conditions including multiple sclerosis, spinal muscular atrophy, Alzheimer's disease, amyotrophic lateral sclerosis and rare neuromuscular disorders.

Biogen's products include Spinraza (nusinersen) for spinal muscular atrophy, Tysabri (natalizumab) and Tecfidera (dimethyl fumarate) for multiple sclerosis, Qalsody (tofersen) for a genetically defined form of ALS, and Skyclarys (omaveloxolone) for Friedreich's ataxia.

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