Biogen (NASDAQ:BIIB) Stock Rating Upgraded by Wall Street Zen

Key Points

• Biogen's stock rating has been upgraded from "hold" to "buy" by Wall Street Zen, indicating a positive outlook for the company.
• The company reported a significant earnings surprise for the last quarter, posting $5.47 EPS, which exceeded analyst expectations of $3.93.
• Various analysts have set different target prices for Biogen's shares, with a consensus target price of $185.63, reflecting mixed sentiments about the stock's potential.

Biogen (NASDAQ:BIIB - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

A number of other research analysts have also weighed in on the stock. Citigroup boosted their target price on shares of Biogen from $125.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday. HSBC lowered shares of Biogen from a "buy" rating to a "hold" rating and set a $118.00 target price for the company. in a research report on Monday, April 28th. Oppenheimer set a $205.00 price objective on shares of Biogen in a report on Friday, May 2nd. Mizuho dropped their price objective on shares of Biogen from $207.00 to $169.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Finally, Canaccord Genuity Group dropped their price objective on shares of Biogen from $265.00 to $220.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Twenty-one research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $185.63.

Biogen Stock Up 3.1%

BIIB stock opened at $131.95 on Friday. The company has a current ratio of 2.50, a quick ratio of 1.01 and a debt-to-equity ratio of 0.36. Biogen has a 1 year low of $110.04 and a 1 year high of $213.50. The company has a fifty day simple moving average of $129.84 and a 200 day simple moving average of $131.82. The firm has a market cap of $19.33 billion, a PE ratio of 12.61, a PEG ratio of 1.85 and a beta of 0.13.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.93 by $1.54. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the previous year, the business earned $5.28 EPS. Biogen's quarterly revenue was up 7.3% compared to the same quarter last year. Sell-side analysts anticipate that Biogen will post 15.83 EPS for the current fiscal year.

Insider Activity

In other news, insider Rachid Izzar sold 2,223 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total transaction of $300,105.00. Following the transaction, the insider directly owned 6,330 shares in the company, valued at approximately $854,550. This represents a 25.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On Biogen

A number of large investors have recently modified their holdings of the stock. Howard Capital Management Inc. lifted its position in shares of Biogen by 11.3% during the second quarter. Howard Capital Management Inc. now owns 4,442 shares of the biotechnology company's stock worth $558,000 after purchasing an additional 450 shares in the last quarter. Motley Fool Asset Management LLC lifted its holdings in Biogen by 10.1% in the second quarter. Motley Fool Asset Management LLC now owns 7,497 shares of the biotechnology company's stock valued at $942,000 after buying an additional 688 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Biogen by 13.2% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 27,421 shares of the biotechnology company's stock valued at $3,444,000 after buying an additional 3,200 shares during the period. AustralianSuper Pty Ltd lifted its holdings in Biogen by 85.9% in the second quarter. AustralianSuper Pty Ltd now owns 739,416 shares of the biotechnology company's stock valued at $92,863,000 after buying an additional 341,719 shares during the period. Finally, Teacher Retirement System of Texas lifted its holdings in Biogen by 2.8% in the second quarter. Teacher Retirement System of Texas now owns 40,975 shares of the biotechnology company's stock valued at $5,146,000 after buying an additional 1,103 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

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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