William Blair Reaffirms "Outperform" Rating for Biogen (NASDAQ:BIIB)

Key Points

• William Blair has reiterated its "outperform" rating for Biogen (NASDAQ: BIIB), indicating a continued positive outlook on the stock.
• Despite the positive rating from one firm, other brokerages have issued mixed reviews, with some downgrading their ratings and adjusting price targets lower.
• Biogen's quarterly earnings exceeded expectations, reporting $5.47 EPS on revenue of $2.65 billion, while setting its FY 2025 guidance at 15.500-16.000 EPS.

Biogen (NASDAQ:BIIB - Get Free Report)'s stock had its "outperform" rating reiterated by equities research analysts at William Blair in a research note issued to investors on Wednesday,RTT News reports.

A number of other brokerages have also issued reports on BIIB. Morgan Stanley cut their price target on shares of Biogen from $146.00 to $144.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Royal Bank Of Canada upped their target price on shares of Biogen from $208.00 to $219.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. HC Wainwright upped their price target on Biogen from $187.00 to $194.00 and gave the company a "buy" rating in a report on Friday, August 1st. Wall Street Zen downgraded Biogen from a "strong-buy" rating to a "buy" rating in a report on Saturday. Finally, Citigroup reissued a "neutral" rating on shares of Biogen in a report on Wednesday. Ten research analysts have rated the stock with a Buy rating and twenty-one have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $181.65.

Biogen Trading Down 1.8%

BIIB traded down $2.44 on Wednesday, hitting $136.87. The company had a trading volume of 130,385 shares, compared to its average volume of 1,561,952. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36. The firm has a market cap of $20.07 billion, a P/E ratio of 13.09, a PEG ratio of 1.11 and a beta of 0.11. The company's fifty day moving average price is $135.40 and its 200 day moving average price is $130.71. Biogen has a 1 year low of $110.04 and a 1 year high of $197.70.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (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 net margin of 15.31% and a return on equity of 13.85%. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. As a group, equities analysts expect that Biogen will post 15.83 earnings per share for the current year.

Insider Activity

In other news, insider Rachid Izzar sold 2,223 shares of Biogen stock in a transaction dated Tuesday, July 8th. The stock was 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 of the company's stock, valued at $854,550. The trade was a 25.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Priya Singhal sold 517 shares of Biogen stock in a transaction dated 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 transaction, the insider directly 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. Insiders own 0.18% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Elevation Point Wealth Partners LLC bought a new position in shares of Biogen in the second quarter worth $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Biogen in the first quarter valued at $26,000. Vision Financial Markets LLC acquired a new stake in shares of Biogen in the first quarter valued at $27,000. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Biogen during the first quarter valued at $27,000. Finally, Rothschild Investment LLC increased its stake in Biogen by 64.7% in the 2nd quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company's stock worth $28,000 after purchasing an additional 88 shares in the last quarter. Institutional investors own 87.93% of the company's stock.

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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