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

Key Points

• Biogen's stock receives a "hold" rating from Needham & Company LLC, reaffirming a cautious outlook on its performance.
• Several analysts have recently adjusted their price targets for Biogen, with Piper Sandler setting a "neutral" rating and raising the target from $115 to $118.
• Biogen reported a quarterly EPS of $5.47, significantly above the consensus estimate, with revenues also surpassing expectations, indicating solid financial performance.

Needham & Company LLC reiterated their hold rating on shares of Biogen (NASDAQ:BIIB - Free Report) in a report published on Thursday morning,Benzinga reports.

A number of other research firms have also commented on BIIB. Royal Bank Of Canada lifted their price objective on Biogen from $208.00 to $219.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Mizuho lowered their target price on Biogen from $207.00 to $169.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. HC Wainwright lifted their target price on Biogen from $187.00 to $194.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Wall Street Zen upgraded Biogen from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Piper Sandler lifted their target price on Biogen from $115.00 to $118.00 and gave the stock a "neutral" rating in a report on Thursday, August 14th. Eleven research analysts have rated the stock with a Buy rating and twenty-one have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $185.74.

Biogen Trading Up 0.5%

Shares of BIIB stock traded up $0.68 during mid-day trading on Thursday, reaching $141.35. 1,624,131 shares of the stock traded hands, compared to its average volume of 1,560,020. The stock's fifty day simple moving average is $132.65 and its two-hundred day simple moving average is $130.59. Biogen has a 1-year low of $110.04 and a 1-year high of $204.18. The company has a market cap of $20.72 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 1.11 and a beta of 0.11. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.32 billion. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. On average, research analysts anticipate that Biogen will post 15.83 EPS for the current fiscal year.

Insider Buying and Selling at Biogen

In other Biogen news, insider Priya Singhal sold 517 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total value of $69,045.35. Following the transaction, the insider owned 5,772 shares of the company's stock, 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 is accessible through this link. Also, insider Rachid Izzar sold 2,223 shares of the company's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total value of $300,105.00. Following the transaction, the insider directly owned 6,330 shares in the company, valued at $854,550. This represents a 25.99% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Biogen by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 17,290,651 shares of the biotechnology company's stock worth $2,171,533,000 after acquiring an additional 257,812 shares during the last quarter. State Street Corp grew its position in Biogen by 1.0% during the 2nd quarter. State Street Corp now owns 7,468,807 shares of the biotechnology company's stock worth $938,007,000 after acquiring an additional 71,897 shares during the last quarter. Geode Capital Management LLC grew its position in Biogen by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 3,918,150 shares of the biotechnology company's stock worth $490,089,000 after acquiring an additional 71,286 shares during the last quarter. Invesco Ltd. grew its position in Biogen by 2.4% during the 2nd quarter. Invesco Ltd. now owns 2,320,126 shares of the biotechnology company's stock worth $291,385,000 after acquiring an additional 55,119 shares during the last quarter. Finally, Norges Bank bought a new position in Biogen during the 2nd quarter worth approximately $284,358,000. 87.93% of the stock is currently owned by 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.