Several brokerages have updated their recommendations and price targets on shares of Biogen (NASDAQ: BIIB) in the last few weeks:
- 8/19/2024 – Biogen had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $285.00 price target on the stock.
- 8/6/2024 – Biogen had its price target lowered by analysts at Mizuho from $277.00 to $251.00. They now have an “outperform” rating on the stock.
- 8/5/2024 – Biogen was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
- 8/5/2024 – Biogen had its “buy” rating reaffirmed by analysts at Truist Financial Co.. They now have a $302.00 price target on the stock, down previously from $340.00.
- 8/2/2024 – Biogen had its price target lowered by analysts at Scotiabank from $275.00 to $244.00. They now have a “sector outperform” rating on the stock.
- 8/2/2024 – Biogen had its price target raised by analysts at Royal Bank of Canada from $282.00 to $292.00. They now have an “outperform” rating on the stock.
- 8/2/2024 – Biogen had its price target lowered by analysts at Wedbush from $215.00 to $210.00. They now have a “neutral” rating on the stock.
- 8/2/2024 – Biogen had its price target lowered by analysts at Wells Fargo & Company from $240.00 to $225.00. They now have an “equal weight” rating on the stock.
- 8/2/2024 – Biogen had its price target lowered by analysts at Barclays PLC from $200.00 to $190.00. They now have an “equal weight” rating on the stock.
- 8/1/2024 – Biogen had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $288.00 price target on the stock.
- 7/29/2024 – Biogen had its price target lowered by analysts at Robert W. Baird from $316.00 to $294.00. They now have an “outperform” rating on the stock.
- 7/26/2024 – Biogen had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $294.00 price target on the stock.
- 7/12/2024 – Biogen had its price target lowered by analysts at Piper Sandler from $335.00 to $313.00. They now have an “overweight” rating on the stock.
- 7/3/2024 – Biogen had its “outperform” rating reaffirmed by analysts at William Blair.
- 6/28/2024 – Biogen had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $294.00 price target on the stock.
- 6/26/2024 – Biogen had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $317.00 price target on the stock.
Biogen Stock Performance
BIIB traded down $0.57 on Tuesday, reaching $205.49. 625,767 shares of the stock were exchanged, compared to its average volume of 1,128,778. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.32. The company’s 50-day moving average price is $219.80 and its 200 day moving average price is $219.26. The firm has a market capitalization of $29.92 billion, a PE ratio of 25.65, a PEG ratio of 2.09 and a beta of -0.04. Biogen Inc. has a fifty-two week low of $189.44 and a fifty-two week high of $270.50.
Biogen (NASDAQ:BIIB – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.00 by $1.28. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The business’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.02 earnings per share. As a group, sell-side analysts forecast that Biogen Inc. will post 15.87 EPS for the current fiscal year.
Institutional Investors Weigh In On 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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