Biogen (NASDAQ:BIIB) Price Target Raised to $241.00 at Mizuho

Biogen (NASDAQ:BIIB) had its price objective lifted by equities research analysts at Mizuho from $221.00 to $241.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the biotechnology company’s stock. Mizuho’s price objective would suggest a potential upside of 16.03% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group raised their target price on shares of Biogen from $231.00 to $238.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Evercore initiated coverage on Biogen in a report on Friday, May 15th. They set an “outperform” rating for the company. Morgan Stanley lifted their price target on Biogen from $222.00 to $231.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Freedom Capital upgraded Biogen from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 1st. Finally, Guggenheim lifted their target price on shares of Biogen from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $224.61.

Biogen Stock Performance

NASDAQ BIIB traded up $5.88 during trading on Tuesday, hitting $207.70. The company’s stock had a trading volume of 661,202 shares, compared to its average volume of 1,285,922. Biogen has a 52 week low of $127.00 and a 52 week high of $219.72. The firm has a market cap of $30.69 billion, a P/E ratio of 36.74, a price-to-earnings-growth ratio of 6.20 and a beta of 0.17. The firm has a 50 day moving average price of $201.39 and a 200 day moving average price of $190.80. The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.39.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.66. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the prior year, the business earned $5.47 earnings per share. Biogen’s revenue for the quarter was up 3.4% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Equities research analysts forecast that Biogen will post 12.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. purchased a new position in shares of Biogen in the 2nd quarter valued at approximately $477,000. Insight Wealth Strategies LLC raised its holdings in Biogen by 16.9% in the second quarter. Insight Wealth Strategies LLC now owns 34,320 shares of the biotechnology company’s stock worth $7,198,000 after purchasing an additional 4,974 shares in the last quarter. Tema ETFs LLC lifted its position in Biogen by 5.5% during the second quarter. Tema ETFs LLC now owns 2,772 shares of the biotechnology company’s stock valued at $599,000 after buying an additional 145 shares during the period. Generali Investments Management Co LLC boosted its holdings in shares of Biogen by 4.6% during the 2nd quarter. Generali Investments Management Co LLC now owns 7,437 shares of the biotechnology company’s stock valued at $1,607,000 after buying an additional 325 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its position in shares of Biogen by 12.7% in the 2nd quarter. Handelsbanken Fonder AB now owns 93,236 shares of the biotechnology company’s stock worth $20,145,000 after buying an additional 10,510 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

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.