Rothschild & Co Redburn Increases Biogen (NASDAQ:BIIB) Price Target to $150.00

Key Points

• Rothschild & Co Redburn has raised its price target for Biogen (NASDAQ:BIIB) from $149.00 to $150.00, maintaining a "neutral" rating, which indicates a potential downside of 6.18% from the stock's previous close.
• In addition to Rothschild, other analysts have varying price targets for Biogen, with a consensus price target of $180.04 and an average rating of "Hold" based on the assessments of eleven analysts rated as "Buy."
• Biogen recently reported earnings exceeding expectations, with a net income of $5.47 earnings per share, surpassing predictions by approximately $1.54, indicating robust quarterly performance.

Biogen (NASDAQ:BIIB - Get Free Report) had its target price hoisted by equities researchers at Rothschild & Co Redburn from $149.00 to $150.00 in a note issued to investors on Monday,MarketScreener reports. The brokerage presently has a "neutral" rating on the biotechnology company's stock. Rothschild & Co Redburn's price target suggests a potential downside of 6.18% from the stock's previous close.

A number of other research analysts also recently commented on BIIB. Piper Sandler increased their price objective on shares of Biogen from $115.00 to $118.00 and gave the company a "neutral" rating in a research note on Friday, September 12th. Wedbush restated a "neutral" rating and set a $121.00 target price on shares of Biogen in a report on Thursday, June 12th. Morgan Stanley dropped their price target on Biogen from $146.00 to $144.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Jefferies Financial Group initiated coverage on Biogen in a report on Thursday, September 25th. They set a "buy" rating and a $190.00 price target for the company. Finally, Truist Financial initiated coverage on shares of Biogen in a research report on Monday, July 21st. They issued a "hold" rating and a $142.00 price target on the stock. Eleven analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $180.04.

Biogen Stock Up 3.0%

Shares of NASDAQ:BIIB opened at $159.88 on Monday. Biogen has a 12-month low of $110.04 and a 12-month high of $194.13. The stock's 50-day moving average price is $138.02 and its two-hundred day moving average price is $130.75. The firm has a market cap of $23.44 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.26 and a beta of 0.13. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share for the quarter, topping the consensus estimate of $3.93 by $1.54. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the prior year, the business earned $5.28 earnings per share. The company's revenue was up 7.3% compared to the same quarter last year. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. On average, research analysts forecast that Biogen will post 15.83 EPS for the current year.

Insider Buying and Selling at Biogen

In other Biogen news, insider Rachid Izzar sold 2,223 shares of the business'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. The trade was a 25.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Priya Singhal sold 517 shares of the 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 sale, the insider owned 5,772 shares in the company, valued at approximately $770,850.60. This represents a 8.22% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On Biogen

A number of large investors have recently added to or reduced their stakes in BIIB. Generali Investments CEE investicni spolecnost a.s. raised its holdings in shares of Biogen by 43.2% during the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 38,755 shares of the biotechnology company's stock valued at $4,867,000 after acquiring an additional 11,695 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Biogen by 6.5% during 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 buying an additional 25,464 shares during the period. Asset Management One Co. Ltd. raised its stake in Biogen by 5.5% in the first 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 in the last quarter. Point72 Europe London LLP purchased a new stake in Biogen in the first quarter worth about $11,286,000. Finally, Motley Fool Asset Management LLC grew its holdings in shares of Biogen by 64.7% during the 1st quarter. Motley Fool Asset Management LLC now owns 6,809 shares of the biotechnology company's stock worth $932,000 after acquiring an additional 2,676 shares during the period. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.