Biogen (NASDAQ:BIIB) Receives "Hold" Rating from Needham & Company LLC

Key Points

• Biogen (NASDAQ:BIIB) has received a "hold" rating from Needham & Company LLC, with a general consensus rating of "hold" across various analysts.
• The company's quarterly earnings topped expectations, reporting $5.47 EPS and revenue of $2.65 billion, leading to a price target consensus of $181.65.
• Recent insider transactions show executives selling shares, with Priya Singhal and Rachid Izzar reducing their stake, indicating potential concerns among company insiders.

Biogen (NASDAQ:BIIB - Get Free Report)'s stock had its "hold" rating restated by equities research analysts at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports.

A number of other equities research analysts also recently weighed in on BIIB. Wedbush restated a "neutral" rating and issued a $121.00 price target on shares of Biogen in a research note on Thursday, June 12th. Royal Bank Of Canada raised their price target on shares of Biogen from $208.00 to $219.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Truist Financial began coverage on shares of Biogen in a research note on Monday, July 21st. They issued a "hold" rating and a $142.00 price target on the stock. Piper Sandler raised their price objective on shares of Biogen from $115.00 to $118.00 and gave the company a "neutral" rating in a report on Friday, September 12th. Finally, Morgan Stanley dropped their price objective on shares of Biogen from $146.00 to $144.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Ten analysts have rated the stock with a Buy rating and twenty-one have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $181.65.

Biogen Price Performance

NASDAQ:BIIB opened at $139.31 on Wednesday. Biogen has a 52 week low of $110.04 and a 52 week high of $199.99. The firm has a market cap of $20.43 billion, a price-to-earnings ratio of 13.32, a P/E/G ratio of 1.11 and a beta of 0.11. The firm's 50-day simple moving average is $135.40 and its 200 day simple moving average is $130.71. 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 released its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, topping analysts' consensus estimates of $3.93 by $1.54. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.32 billion. Biogen had a net margin of 15.31% and a return on equity of 13.85%. Biogen's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm earned $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. As a group, sell-side analysts predict that Biogen will post 15.83 earnings per share for the current year.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 517 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total transaction of $69,045.35. Following the transaction, the insider directly owned 5,772 shares in the company, valued at approximately $770,850.60. The trade was a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rachid Izzar sold 2,223 shares of the business's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total transaction of $300,105.00. Following the completion of the transaction, the insider owned 6,330 shares in the company, valued at approximately $854,550. The trade was a 25.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Institutional Trading of Biogen

Institutional investors have recently modified their holdings of the business. Opal Wealth Advisors LLC purchased a new stake in shares of Biogen during the 1st quarter valued at approximately $26,000. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Biogen during the 1st quarter valued at approximately $27,000. Vision Financial Markets LLC purchased a new stake in shares of Biogen during the 1st quarter valued at approximately $27,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Biogen during the 2nd quarter valued at approximately $25,000. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Biogen during the 1st quarter valued at approximately $29,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Company Profile

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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