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

Key Points

• Biogen's stock rating has been upgraded by Wall Street Zen from "buy" to "strong-buy," indicating increased confidence among investors.
• Recently, analysts have varied views on Biogen, with Jefferies setting a target price of $190.00 and Morgan Stanley reducing their target price to $144.00.
• Biogen reported strong quarterly earnings, exceeding estimates by $1.54 per share and achieving a revenue increase of 7.3% year-over-year.

Biogen (NASDAQ:BIIB - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Sunday.

A number of other research analysts have also recently weighed in on BIIB. Jefferies Financial Group assumed coverage on shares of Biogen in a research note on Thursday. They set a "buy" rating and a $190.00 price objective for the company. Morgan Stanley lowered their target price on shares of Biogen from $146.00 to $144.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st. HC Wainwright lifted their target price on shares of Biogen from $187.00 to $194.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of Biogen in a research note on Wednesday. Finally, Wedbush reaffirmed a "neutral" rating and issued a $121.00 target price on shares of Biogen in a research note on Thursday, June 12th. Eleven research analysts have rated the stock with a Buy rating and twenty have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $182.04.

Biogen Trading Up 1.3%

Shares of BIIB opened at $137.37 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79. The firm has a 50 day simple moving average of $135.97 and a 200-day simple moving average of $130.54. Biogen has a 1-year low of $110.04 and a 1-year high of $197.70. The stock has a market cap of $20.14 billion, a price-to-earnings ratio of 13.13, a price-to-earnings-growth ratio of 1.08 and a beta of 0.11.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $2.32 billion. During the same period last year, the company posted $5.28 EPS. The company's revenue was up 7.3% on a year-over-year basis. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Equities analysts forecast that Biogen will post 15.83 EPS for the current fiscal year.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 517 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were 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 of the company's stock, valued at $770,850.60. The trade was a 8.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Rachid Izzar sold 2,223 shares of Biogen stock in a transaction 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 owned 6,330 shares in the company, valued at $854,550. The trade was a 25.99% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

Hedge Funds Weigh In On Biogen

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wedmont Private Capital grew its position in Biogen by 3.8% in the 2nd quarter. Wedmont Private Capital now owns 2,190 shares of the biotechnology company's stock worth $291,000 after purchasing an additional 81 shares during the last quarter. Rothschild Investment LLC lifted its stake in Biogen by 64.7% during the second quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company's stock valued at $28,000 after purchasing an additional 88 shares during the last quarter. Legacy Wealth Asset Management LLC lifted its stake in Biogen by 3.8% during the second quarter. Legacy Wealth Asset Management LLC now owns 2,511 shares of the biotechnology company's stock valued at $315,000 after purchasing an additional 91 shares during the last quarter. Quent Capital LLC lifted its position in shares of Biogen by 31.2% in the 1st quarter. Quent Capital LLC now owns 391 shares of the biotechnology company's stock valued at $54,000 after acquiring an additional 93 shares in the last quarter. Finally, CVA Family Office LLC increased its stake in Biogen by 71.1% in the 1st quarter. CVA Family Office LLC now owns 231 shares of the biotechnology company's stock valued at $32,000 after buying an additional 96 shares during the period. Institutional investors and hedge funds own 87.93% of the company's stock.

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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