Biogen (NASDAQ:BIIB) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Biogen (NASDAQ:BIIB) had its target price lifted by equities researchers at Wells Fargo & Company from $155.00 to $190.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The brokerage currently has an “equal weight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 11.69% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. William Blair reaffirmed an “outperform” rating on shares of Biogen in a research note on Wednesday, September 24th. HSBC reissued a “reduce” rating and set a $143.00 price objective (down from $144.00) on shares of Biogen in a research report on Wednesday. Stifel Nicolaus upgraded Biogen from a “hold” rating to a “buy” rating and raised their target price for the company from $144.00 to $202.00 in a research note on Thursday, November 6th. Piper Sandler reaffirmed a “neutral” rating and issued a $157.00 price target (up from $118.00) on shares of Biogen in a research note on Friday, November 21st. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Biogen in a research report on Monday. Ten analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $182.20.

Biogen Stock Performance

Biogen stock opened at $170.12 on Wednesday. The company has a current ratio of 2.72, a quick ratio of 2.04 and a debt-to-equity ratio of 0.35. Biogen has a 1-year low of $110.04 and a 1-year high of $185.17. The firm has a market capitalization of $24.96 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 1.51 and a beta of 0.13. The firm’s 50 day simple moving average is $160.34 and its 200 day simple moving average is $142.94.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share for the quarter, topping the consensus estimate of $3.89 by $0.92. Biogen had a net margin of 15.98% and a return on equity of 14.13%. The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the prior year, the business earned $4.08 earnings per share. Biogen’s revenue for the quarter was up 2.8% compared to the same quarter last year. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. As a group, analysts expect that Biogen will post 15.83 earnings per share for the current fiscal year.

Institutional Trading of Biogen

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Elevation Point Wealth Partners LLC bought a new position in shares of Biogen during the 2nd quarter valued at approximately $25,000. Accredited Wealth Management LLC increased its stake in shares of Biogen by 1,233.3% in the third quarter. Accredited Wealth Management LLC now owns 200 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 185 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Biogen during the 1st quarter valued at $29,000. Rothschild Investment LLC lifted its stake in shares of Biogen by 64.7% during the 2nd quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 88 shares in the last quarter. Finally, Concord Wealth Partners boosted its holdings in Biogen by 100.0% in the 2nd quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock worth $29,000 after buying an additional 114 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.