Biogen (NASDAQ:BIIB) Given New $241.00 Price Target at Mizuho

Key Points

• Mizuho raised Biogen’s price target to $241 from $221 and maintained an “outperform” rating, implying roughly 16% upside from the stock’s reported price.
• Biogen shares rose 2.9% to $207.70, while analysts overall maintained a “Moderate Buy” consensus with an average price target of $224.61.
• The company exceeded quarterly expectations, reporting $3.60 in adjusted EPS versus a $2.94 estimate and $2.74 billion in revenue versus a $2.46 billion forecast; institutional investors own nearly 88% of its shares.

Biogen (NASDAQ:BIIB - Get Free Report) had its price target raised by Mizuho from $221.00 to $241.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the biotechnology company's stock. Mizuho's price target suggests a potential upside of 16.03% from the company's current price.

BIIB has been the topic of a number of other reports. Evercore initiated coverage on shares of Biogen in a research report on Friday, May 15th. They set an "outperform" rating on the stock. Argus raised shares of Biogen to a "hold" rating in a research note on Thursday, April 9th. HSBC reiterated a "reduce" rating and issued a $157.00 price objective on shares of Biogen in a report on Monday, July 6th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Biogen in a research report on Monday, June 22nd. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of Biogen in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Biogen presently has an average rating of "Moderate Buy" and a consensus price target of $224.61.

Biogen Stock Up 2.9%

NASDAQ:BIIB traded up $5.88 during mid-day trading on Tuesday, hitting $207.70. The company had a trading volume of 661,202 shares, compared to its average volume of 1,285,922. The business has a fifty day simple moving average of $201.39 and a 200-day simple moving average of $190.80. The firm has a market capitalization of $30.69 billion, a price-to-earnings ratio of 36.74, a PEG ratio of 6.20 and a beta of 0.17. Biogen has a 1 year low of $127.00 and a 1 year high of $219.72. The company has a current ratio of 1.87, a quick ratio of 1.26 and a debt-to-equity ratio of 0.39.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its earnings results 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. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.46 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The company's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Equities analysts forecast that Biogen will post 12.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Biogen

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Biogen in the 4th quarter worth about $464,408,000. Boston Partners acquired a new position in Biogen during the 4th quarter valued at about $302,815,000. Fred Alger Management LLC lifted its holdings in Biogen by 39,074.8% in the fourth quarter. Fred Alger Management LLC now owns 798,774 shares of the biotechnology company's stock worth $140,576,000 after purchasing an additional 796,735 shares during the period. Employees Provident Fund Board acquired a new stake in shares of Biogen during the 4th quarter valued at about $123,931,000. Finally, Orion Porfolio Solutions LLC grew its stake in Biogen by 6,828.4% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company's stock valued at $64,965,000 after buying an additional 509,809 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company's stock.

Biogen Company Profile

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.

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