Biogen (NASDAQ:BIIB) Upgraded at Needham & Company LLC

Biogen (NASDAQ:BIIB) was upgraded by Needham & Company LLC from a “hold” rating to a “buy” rating in a note issued to investors on Monday, Marketbeat.com reports. The firm currently has a $255.00 price objective on the biotechnology company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 30.54% from the stock’s previous close.

Several other research firms also recently issued reports on BIIB. Oppenheimer upped their price target on Biogen from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Freedom Capital upgraded Biogen from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 1st. Tudor Pickering set a $201.00 price target on Biogen in a research note on Monday, February 9th. HC Wainwright reiterated a “buy” rating on shares of Biogen in a research note on Thursday, May 14th. Finally, Weiss Ratings raised Biogen from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $217.26.

Biogen Stock Performance

BIIB opened at $195.34 on Monday. The company has a market cap of $28.84 billion, a PE ratio of 20.96 and a beta of 0.20. The stock has a 50-day moving average of $187.60 and a 200-day moving average of $183.46. Biogen has a 52-week low of $121.05 and a 52-week high of $205.97. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.41 and a current ratio of 3.06.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.62. The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.29 billion. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The firm’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. As a group, equities research analysts forecast that Biogen will post 14.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Biogen

A number of hedge funds have recently modified their holdings of the stock. Rothschild Investment LLC raised its holdings in shares of Biogen by 12.3% in the 4th quarter. Rothschild Investment LLC now owns 513 shares of the biotechnology company’s stock worth $90,000 after buying an additional 56 shares in the last quarter. Meeder Advisory Services Inc. raised its holdings in shares of Biogen by 1.2% in the 1st quarter. Meeder Advisory Services Inc. now owns 4,721 shares of the biotechnology company’s stock worth $866,000 after buying an additional 57 shares in the last quarter. Kera Capital Partners Inc. raised its holdings in shares of Biogen by 3.5% in the 1st quarter. Kera Capital Partners Inc. now owns 1,723 shares of the biotechnology company’s stock worth $316,000 after buying an additional 58 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Biogen by 1.5% in the 1st quarter. Parallel Advisors LLC now owns 4,367 shares of the biotechnology company’s stock worth $801,000 after buying an additional 65 shares in the last quarter. Finally, Itau Unibanco Holding S.A. raised its holdings in shares of Biogen by 24.4% in the 4th quarter. Itau Unibanco Holding S.A. now owns 337 shares of the biotechnology company’s stock worth $59,000 after buying an additional 66 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

About Biogen

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.