Jefferies Financial Group Begins Coverage on Biogen (NASDAQ:BIIB)

Key Points

• Jefferies Financial Group initiated coverage on Biogen (NASDAQ:BIIB) with a "buy" rating and set a price target of $190.00, indicating a potential upside of 38.01% from the current price.
• Biogen reported earnings of $5.47 per share for the last quarter, surpassing estimates significantly and achieving a 7.3% increase in revenue year-over-year.
• The company has a mixed market outlook with eleven analysts rating it as a buy and twenty as a hold, leading to a consensus rating of "hold" with a price target of $182.04.

Equities research analysts at Jefferies Financial Group assumed coverage on shares of Biogen (NASDAQ:BIIB - Get Free Report) in a research report issued on Thursday,Benzinga reports. The firm set a "buy" rating and a $190.00 price target on the biotechnology company's stock. Jefferies Financial Group's target price points to a potential upside of 38.01% from the stock's current price.

Other research analysts have also issued research reports about the company. Citigroup reaffirmed a "neutral" rating on shares of Biogen in a report on Wednesday. Morgan Stanley dropped their price objective on Biogen from $146.00 to $144.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. Royal Bank Of Canada upped their target price on Biogen from $208.00 to $219.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Wedbush reissued a "neutral" rating and issued a $121.00 target price on shares of Biogen in a report on Thursday, June 12th. Finally, Piper Sandler upped their target price on Biogen from $115.00 to $118.00 and gave the company a "neutral" rating in a report on Friday, September 12th. Eleven equities research analysts have rated the stock with a Buy rating and twenty have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $182.04.

Biogen Trading Down 1.2%

Shares of BIIB stock opened at $137.67 on Thursday. The business's fifty day moving average price is $135.59 and its 200 day moving average price is $130.75. Biogen has a 1-year low of $110.04 and a 1-year high of $197.70. The firm has a market capitalization of $20.19 billion, a PE ratio of 13.16, a P/E/G ratio of 1.10 and a beta of 0.11. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79.

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

Insider Buying and Selling at Biogen

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

Institutional Trading of Biogen

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Biogen by 6.5% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 416,960 shares of the biotechnology company's stock valued at $57,057,000 after acquiring an additional 25,464 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in Biogen by 5.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 61,420 shares of the biotechnology company's stock worth $8,405,000 after buying an additional 3,194 shares during the last quarter. Point72 Europe London LLP acquired a new stake in Biogen in the 1st quarter worth about $11,286,000. Motley Fool Asset Management LLC boosted its stake in Biogen by 64.7% in the 1st quarter. Motley Fool Asset Management LLC now owns 6,809 shares of the biotechnology company's stock worth $932,000 after buying an additional 2,676 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Biogen by 3.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 44,796 shares of the biotechnology company's stock worth $6,130,000 after buying an additional 1,336 shares during the last quarter. 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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