Biogen (NASDAQ:BIIB) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America raised Biogen’s price target from $219 to $244 while maintaining a neutral rating, implying roughly 1.25% upside from the stock’s current price.
• Analyst sentiment is broadly positive: Biogen has a consensus “Moderate Buy” rating and an average price target of $241.89, with several firms setting targets as high as $300.
• Biogen exceeded quarterly expectations with adjusted EPS of $3.60 versus a $2.94 estimate and revenue of $2.74 billion, up 3.4% year over year; institutional investors own 87.93% of its shares.

Biogen (NASDAQ:BIIB - Get Free Report) had its price target boosted by investment analysts at Bank of America from $219.00 to $244.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a "neutral" rating on the biotechnology company's stock. Bank of America's target price suggests a potential upside of 1.25% from the stock's current price.

A number of other equities analysts have also issued reports on the stock. JPMorgan Chase & Co. raised shares of Biogen from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $210.00 to $300.00 in a research report on Monday, October 12th. Barclays increased their price target on shares of Biogen from $185.00 to $200.00 and gave the company an "equal weight" rating in a report on Wednesday, July 29th. Wolfe Research raised shares of Biogen from a "peer perform" rating to an "outperform" rating and set a $300.00 price target for the company in a report on Thursday, August 13th. Stifel Nicolaus set a $242.00 price target on shares of Biogen in a research report on Thursday, September 10th. Finally, Mizuho boosted their price objective on shares of Biogen from $221.00 to $241.00 and gave the stock an "outperform" rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $241.89.

Biogen Stock Performance

Shares of NASDAQ BIIB opened at $240.98 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.39. The business's 50 day moving average is $221.92 and its two-hundred day moving average is $205.19. The company has a market cap of $35.60 billion, a P/E ratio of 42.65, a P/E/G ratio of 2.71 and a beta of 0.09. Biogen has a 12 month low of $138.00 and a 12 month high of $244.65.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, topping analysts' consensus estimates of $2.94 by $0.66. Biogen had a return on equity of 11.18% and a net margin of 8.32%. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same period in the previous year, the company earned $5.47 earnings per share. The company's quarterly revenue was up 3.4% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, equities analysts expect that Biogen will post 12.31 EPS for the current year.

Institutional Trading of Biogen

Several institutional investors have recently made changes to their positions in the business. Bell Investment Advisors Inc bought a new stake in shares of Biogen in the 2nd quarter valued at approximately $27,000. Align Financial LLC grew its holdings in shares of Biogen by 339.3% in the 3rd quarter. Align Financial LLC now owns 123 shares of the biotechnology company's stock worth $28,000 after purchasing an additional 95 shares during the last quarter. Ashurst Perkins Coie Trust Co lifted its holdings in Biogen by 92.2% during the 3rd quarter. Ashurst Perkins Coie Trust Co now owns 173 shares of the biotechnology company's stock valued at $39,000 after purchasing an additional 83 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in Biogen during the 1st quarter valued at about $40,000. Finally, Albion Financial Group UT boosted its position in Biogen by 2,833.3% in the third quarter. Albion Financial Group UT now owns 176 shares of the biotechnology company's stock valued at $40,000 after buying an additional 170 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Company Profile

Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for neurological and neurodegenerative diseases. Its areas of focus include multiple sclerosis, Alzheimer's disease, spinal muscular atrophy, amyotrophic lateral sclerosis and other serious medical conditions.

The company's portfolio includes multiple sclerosis treatments such as Tecfidera, Vumerity, Tysabri, Plegridy and Avonex, as well as Spinraza for spinal muscular atrophy. Biogen also markets Leqembi, an Alzheimer's disease treatment developed in collaboration with Eisai, and works with partners to advance additional therapies and biosimilars.

Biogen was founded in 1978 and is headquartered in Cambridge, Massachusetts.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.