Weiss Ratings Upgrades Biogen (NASDAQ:BIIB) to "Hold (C-)"

Key Points

• Weiss Ratings has upgraded Biogen's stock from a "sell (d+)" to a "hold (c-)" rating, reflecting a positive shift in investor sentiment.
• Analysts have varied opinions on Biogen, with 11 ratings as "Buy" and 20 as "Hold," indicating a consensus average rating of "Hold" and a price target of $180.69.
• Biogen recently reported strong earnings, with an EPS of $5.47 surpassing expectations and a revenue increase of 7.3% year-over-year, showcasing its financial stability.

Biogen (NASDAQ:BIIB - Get Free Report) was upgraded by equities research analysts at Weiss Ratings from a "sell (d+)" rating to a "hold (c-)" rating in a note issued to investors on Friday,Weiss Ratings reports.

BIIB has been the subject of a number of other reports. Wall Street Zen upgraded shares of Biogen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, September 28th. Morgan Stanley boosted their price target on shares of Biogen from $144.00 to $149.00 and gave the company an "equal weight" rating in a research report on Friday, October 10th. Jefferies Financial Group initiated coverage on shares of Biogen in a research report on Thursday, September 25th. They set a "buy" rating and a $190.00 price target for the company. Piper Sandler boosted their price target on shares of Biogen from $115.00 to $118.00 and gave the company a "neutral" rating in a research report on Friday, September 12th. Finally, Wedbush boosted their price target on shares of Biogen from $129.00 to $135.00 and gave the company a "neutral" rating in a research report on Tuesday, October 14th. Eleven analysts have rated the stock with a Buy rating and twenty have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Biogen has an average rating of "Hold" and a consensus price target of $180.69.

Biogen Stock Performance

Shares of Biogen stock traded down $0.19 during mid-day trading on Friday, hitting $149.89. 1,338,261 shares of the stock were exchanged, compared to its average volume of 1,574,389. Biogen has a 12 month low of $110.04 and a 12 month high of $187.58. The company has a 50-day simple moving average of $142.80 and a 200 day simple moving average of $132.03. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50. The company has a market capitalization of $21.98 billion, a P/E ratio of 14.33, a P/E/G ratio of 1.17 and a beta of 0.13.

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

Insider Activity

In other news, insider Priya Singhal sold 517 shares of Biogen 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 approximately $770,850.60. The trade was a 8.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.18% of the company's stock.

Institutional Trading of Biogen

Hedge funds have recently added to or reduced their stakes in the business. Generali Investments CEE investicni spolecnost a.s. lifted its stake in Biogen by 43.2% in the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 38,755 shares of the biotechnology company's stock worth $4,867,000 after purchasing an additional 11,695 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Biogen by 6.5% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 416,960 shares of the biotechnology company's stock worth $57,057,000 after purchasing an additional 25,464 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Biogen by 5.7% during the second quarter. Nordea Investment Management AB now owns 125,935 shares of the biotechnology company's stock valued at $15,810,000 after acquiring an additional 6,811 shares during the last quarter. Privium Fund Management B.V. bought a new position in shares of Biogen during the second quarter valued at about $2,666,000. Finally, Asset Management One Co. Ltd. raised its stake in shares of Biogen by 5.5% during the first quarter. Asset Management One Co. Ltd. now owns 61,420 shares of the biotechnology company's stock valued at $8,405,000 after acquiring an additional 3,194 shares during the last quarter. 87.93% of the stock is owned by institutional investors.

About Biogen

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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