Biogen (NASDAQ:BIIB) Cut to Buy at Wall Street Zen

Wall Street Zen cut shares of Biogen (NASDAQ:BIIB) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday morning.

BIIB has been the topic of a number of other research reports. Truist Financial started coverage on shares of Biogen in a research report on Monday, July 21st. They issued a “hold” rating and a $142.00 target price on the stock. 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 report on Friday, August 1st. Royal Bank Of Canada boosted their price objective 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. Piper Sandler boosted their price objective on shares of Biogen from $115.00 to $118.00 and gave the stock a “neutral” rating in a research note on Friday, September 12th. Finally, Citigroup boosted their price objective on shares of Biogen from $125.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Ten equities research analysts have rated the stock with a Buy rating and twenty-one have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $181.65.

Biogen Stock Performance

Shares of Biogen stock opened at $140.66 on Friday. Biogen has a fifty-two week low of $110.04 and a fifty-two week high of $199.99. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79. The firm has a market capitalization of $20.62 billion, a P/E ratio of 13.45, a P/E/G ratio of 1.12 and a beta of 0.11. The company’s 50 day moving average price is $135.16 and its two-hundred day moving average price is $130.65.

Biogen (NASDAQ:BIIB) last issued its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share for the quarter, beating analysts’ consensus estimates of $3.93 by $1.54. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter last year, the business posted $5.28 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. On average, equities analysts forecast that Biogen will post 15.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Biogen

In related news, insider Priya Singhal sold 517 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total value of $69,045.35. Following the transaction, the insider owned 5,772 shares in the company, valued at $770,850.60. The trade was a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rachid Izzar sold 2,223 shares of the business’s stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total transaction of $300,105.00. Following the completion of the transaction, the insider owned 6,330 shares in the company, valued at approximately $854,550. The trade was a 25.99% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

Hedge Funds Weigh In On Biogen

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Caldwell Trust Co acquired a new position in Biogen in the second quarter valued at $50,000. Valeo Financial Advisors LLC acquired a new position in Biogen in the second quarter valued at $225,000. Osaic Holdings Inc. increased its stake in Biogen by 12.1% in the second quarter. Osaic Holdings Inc. now owns 8,735 shares of the biotechnology company’s stock valued at $1,098,000 after purchasing an additional 941 shares in the last quarter. Lavaca Capital LLC raised its holdings in shares of Biogen by 56.8% during the second quarter. Lavaca Capital LLC now owns 447 shares of the biotechnology company’s stock valued at $56,000 after purchasing an additional 162 shares during the period. Finally, Orion Porfolio Solutions LLC raised its holdings in shares of Biogen by 15.0% during the second quarter. Orion Porfolio Solutions LLC now owns 8,587 shares of the biotechnology company’s stock valued at $1,078,000 after purchasing an additional 1,121 shares during the period. Institutional investors and hedge funds 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.