Biogen (NASDAQ:BIIB) Upgraded to Buy at Truist Financial

Biogen (NASDAQ:BIIB) was upgraded by investment analysts at Truist Financial from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The firm currently has a $235.00 price objective on the biotechnology company’s stock, up from their prior price objective of $190.00. Truist Financial’s target price would indicate a potential upside of 18.00% from the stock’s previous close.

A number of other research firms have also recently commented on BIIB. HSBC reissued a “reduce” rating and set a $157.00 target price on shares of Biogen in a research report on Monday, July 6th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biogen in a research report on Monday, June 22nd. UBS Group upgraded Biogen from a “neutral” rating to a “buy” rating and increased their price objective for the company from $185.00 to $225.00 in a report on Wednesday, April 22nd. Needham & Company LLC raised their price objective on Biogen from $255.00 to $256.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Finally, Guggenheim boosted their target price on Biogen from $246.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Biogen currently has a consensus rating of “Moderate Buy” and an average price target of $219.85.

Biogen Price Performance

BIIB opened at $199.15 on Monday. The business’s 50-day moving average is $198.25 and its two-hundred day moving average is $188.16. Biogen has a 1 year low of $121.05 and a 1 year high of $219.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.06 and a quick ratio of 2.41. The firm has a market capitalization of $29.40 billion, a PE ratio of 21.37 and a beta of 0.16.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, beating the consensus estimate of $2.95 by $0.62. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same period in the prior year, the firm posted $3.02 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Research analysts anticipate that Biogen will post 13.77 earnings per share for the current fiscal year.

Institutional Trading of Biogen

Several large investors have recently made changes to their positions in BIIB. Reflection Asset Management acquired a new position in Biogen during the fourth quarter valued at $25,000. WPG Advisers LLC grew its position in Biogen by 417.9% during the 4th quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 117 shares during the period. First Horizon Corp acquired a new stake in Biogen during the 4th quarter worth about $30,000. WFA of San Diego LLC purchased a new position in shares of Biogen during the 2nd quarter valued at about $32,000. Finally, Root Financial Partners LLC raised its stake in shares of Biogen by 198.4% during the 4th quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 123 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Company Profile

Biogen Inc is a multinational biotechnology company focused on discovering, developing and delivering therapies for neurological and neurodegenerative diseases. Headquartered in Cambridge, Massachusetts, the company has a longstanding emphasis on neuroscience, with research and commercial activities spanning multiple therapeutic areas including multiple sclerosis, spinal muscular atrophy and Alzheimer’s disease. Biogen was founded in 1978 and has grown into a global biopharmaceutical firm with operations and commercial presence across North America, Europe, Japan and other international markets.

The company’s marketed portfolio has historically included several well-known therapies for multiple sclerosis such as Avonex, Tysabri and Tecfidera, and it has pursued treatments for rare neurological conditions and genetic neuromuscular disorders.