Biogen (NASDAQ:BIIB) Earns Sell (D+) Rating from Weiss Ratings

Key Points

• Biogen's stock has been reaffirmed with a "sell (D+)" rating by Weiss Ratings, indicating concerns regarding its performance.
• The company's stock price dropped 0.8% during trading, closing at $150.97, with various analysts adjusting their price targets.
• Biogen reported earnings per share of $5.47, significantly exceeding analyst expectations and showcasing a 7.3% year-over-year revenue increase.

Biogen (NASDAQ:BIIB - Get Free Report)'s stock had its "sell (d+)" rating reaffirmed by research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other research analysts have also issued reports on the company. Morgan Stanley dropped their price objective on Biogen from $146.00 to $144.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st. Jefferies Financial Group initiated coverage on Biogen in a report on Thursday, September 25th. They set a "buy" rating and a $190.00 price objective on the stock. Wedbush restated a "neutral" rating and issued a $121.00 target price on shares of Biogen in a research note on Thursday, June 12th. Royal Bank Of Canada cut their target price on Biogen from $219.00 to $217.00 and set an "outperform" rating on the stock in a research note on Wednesday. Finally, Citigroup restated a "neutral" rating on shares of Biogen in a research note on Wednesday, September 24th. Eleven analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Biogen presently has an average rating of "Hold" and a consensus target price of $179.96.

Biogen Stock Down 0.8%

Shares of NASDAQ BIIB traded down $1.24 during trading hours on Wednesday, hitting $150.97. The stock had a trading volume of 1,331,424 shares, compared to its average volume of 1,590,758. The company has a market capitalization of $22.14 billion, a P/E ratio of 14.43, a P/E/G ratio of 1.22 and a beta of 0.13. The firm's 50-day moving average price is $139.00 and its two-hundred day moving average price is $130.99. Biogen has a 52 week low of $110.04 and a 52 week high of $194.13. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share for the quarter, topping the consensus estimate of $3.93 by $1.54. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period in the previous year, the company earned $5.28 EPS. The company's revenue for the quarter was up 7.3% on a year-over-year basis. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Analysts anticipate that Biogen will post 15.83 EPS for the current fiscal year.

Insider Buying and Selling at Biogen

In related news, insider Priya Singhal sold 517 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was 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 in the company, valued at $770,850.60. This represents a 8.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On Biogen

A number of institutional investors and hedge funds have recently bought and sold shares of BIIB. Elevation Point Wealth Partners LLC acquired a new position in Biogen in the 2nd quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Biogen in the first quarter valued at about $26,000. Vision Financial Markets LLC acquired a new stake in shares of Biogen in the first quarter valued at about $27,000. Greykasell Wealth Strategies Inc. acquired a new stake in Biogen during the first quarter worth approximately $27,000. Finally, Rothschild Investment LLC grew its stake in Biogen by 64.7% during the second quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company's stock worth $28,000 after purchasing an additional 88 shares during the period. Institutional investors and hedge funds own 87.93% of the company's stock.

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.

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