BMO Capital Markets Issues Positive Forecast for Biogen (NASDAQ:BIIB) Stock Price

Biogen (NASDAQ:BIIB) had its price target hoisted by BMO Capital Markets from $150.00 to $165.00 in a research report sent to investors on Thursday,MarketScreener reports. The firm currently has a market perform rating on the biotechnology company’s stock.

Several other research analysts have also recently issued reports on BIIB. Hsbc Global Res cut shares of Biogen from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 10th. Royal Bank Of Canada cut their target price on Biogen from $217.00 to $210.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. Piper Sandler restated a “neutral” rating and issued a $157.00 price target (up previously from $118.00) on shares of Biogen in a research note on Friday, November 21st. Rothschild & Co Redburn lifted their price objective on Biogen from $149.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Finally, Robert W. Baird reduced their price target on shares of Biogen from $255.00 to $250.00 in a research note on Friday, October 31st. Ten investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $183.08.

Biogen Trading Down 0.1%

NASDAQ BIIB opened at $169.76 on Thursday. The stock has a market cap of $24.90 billion, a P/E ratio of 15.47, a price-to-earnings-growth ratio of 1.44 and a beta of 0.13. Biogen has a fifty-two week low of $110.04 and a fifty-two week high of $185.17. The stock has a 50 day simple moving average of $163.08 and a two-hundred day simple moving average of $144.89. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.04 and a current ratio of 2.72.

Biogen (NASDAQ:BIIB) last announced its earnings results on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $3.89 by $0.92. Biogen had a return on equity of 14.13% and a net margin of 15.98%.The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter in the prior year, the company earned $4.08 earnings per share. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. On average, analysts forecast that Biogen will post 15.83 earnings per share for the current year.

Hedge Funds Weigh In On Biogen

Several large investors have recently added to or reduced their stakes in the company. Generali Investments CEE investicni spolecnost a.s. lifted its holdings in shares of Biogen by 43.2% in the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 38,755 shares of the biotechnology company’s stock worth $4,867,000 after buying an additional 11,695 shares in the last quarter. Valeo Financial Advisors LLC bought a new stake in shares of Biogen in the second quarter worth about $225,000. Privium Fund Management B.V. bought a new position in shares of Biogen in the 2nd quarter valued at about $2,666,000. Nordea Investment Management AB grew its position in Biogen by 5.7% in the second quarter. Nordea Investment Management AB now owns 125,935 shares of the biotechnology company’s stock worth $15,810,000 after acquiring an additional 6,811 shares in the last quarter. Finally, Point72 Europe London LLP bought a new stake in Biogen during the first quarter worth approximately $11,286,000. 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.