Jefferies Financial Group Forecasts Strong Price Appreciation for Biogen (NASDAQ:BIIB) Stock

Biogen (NASDAQ:BIIB) had its target price upped by Jefferies Financial Group from $190.00 to $210.00 in a report issued on Friday,MarketScreener reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 15.81% from the stock’s current price.

A number of other brokerages have also recently issued reports on BIIB. Robert W. Baird dropped their target price on shares of Biogen from $255.00 to $250.00 in a report on Friday, October 31st. Royal Bank Of Canada cut their price target on Biogen from $217.00 to $210.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Piper Sandler reissued a “neutral” rating and issued a $157.00 price objective (up from $118.00) on shares of Biogen in a research note on Friday, November 21st. HC Wainwright increased their price target on shares of Biogen from $187.00 to $194.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, Weiss Ratings upgraded Biogen from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday. Ten research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Biogen currently has an average rating of “Hold” and a consensus price target of $179.73.

Biogen Stock Down 0.3%

Shares of NASDAQ:BIIB traded down $0.61 during trading hours on Friday, reaching $181.33. The stock had a trading volume of 101,771 shares, compared to its average volume of 1,620,365. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50. The firm’s 50 day moving average is $153.78 and its 200-day moving average is $139.68. The stock has a market capitalization of $26.60 billion, a price-to-earnings ratio of 17.33, a P/E/G ratio of 1.17 and a beta of 0.10. Biogen has a 1 year low of $110.04 and a 1 year high of $185.17.

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, beating the consensus estimate of $3.89 by $0.92. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the prior year, the company earned $4.08 earnings per share. The company’s revenue was up 2.8% compared to the same quarter last year. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. Research analysts predict that Biogen will post 15.83 earnings per share for the current fiscal year.

Insider Transactions at Biogen

In other Biogen 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 transaction of $69,045.35. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by company insiders.

Institutional Trading of Biogen

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Generali Investments CEE investicni spolecnost a.s. lifted its stake in Biogen by 43.2% during the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 38,755 shares of the biotechnology company’s stock valued at $4,867,000 after purchasing an additional 11,695 shares during the last quarter. Valeo Financial Advisors LLC acquired a new stake in shares of Biogen in the 2nd quarter valued at $225,000. Privium Fund Management B.V. acquired a new position in shares of Biogen during the 2nd quarter valued at about $2,666,000. Nordea Investment Management AB lifted its holdings in Biogen by 5.7% in the 2nd quarter. Nordea Investment Management AB now owns 125,935 shares of the biotechnology company’s stock worth $15,810,000 after purchasing an additional 6,811 shares during the last quarter. Finally, Point72 Europe London LLP bought a new position in shares of Biogen in the first quarter valued at approximately $11,286,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

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.