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Investing.com - Bernstein has raised its price target on Biogen (NASDAQ:BIIB) stock to $157.00 from $155.00 while maintaining a Market Perform rating. According to InvestingPro data, Biogen appears significantly undervalued with a P/E ratio of 14.06 and a strong free cash flow yield of 10%.
The price target increase follows Biogen’s quarterly revenue beat, driven primarily by its Multiple Sclerosis (MS) Franchise, which generated $1.062 billion in revenue, exceeding consensus estimates by 14%. The Anti-CD20 franchise also outperformed expectations with $494 million in revenue, 10% above consensus. This performance contributes to Biogen’s overall revenue growth of 4.77% over the last twelve months.
Biogen reported earnings per share of $4.81, beating consensus estimates by 23%, with the revenue outperformance and resulting operating leverage flowing through to the bottom line. Spinraza sales reached $374 million, slightly above expectations, while Skyclarys generated $133 million, missing estimates by 5%.
Leqembi sales totaled $121 million, falling 6% below consensus expectations, while Skyclarys showed a sequential decline of $6 million in U.S. sales, attributed to a "Medicare true-up" according to the analyst report.
Bernstein updated its model to reflect Biogen’s fiscal year guidance, increasing total revenue estimates by $95 million primarily due to the MS franchise performance, resulting in a new non-GAAP diluted EPS estimate of $14.75. InvestingPro data shows Biogen maintains a "GREAT" financial health score and has delivered a strong 24.88% price return over the past six months. For deeper insights and additional ProTips on Biogen, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Biogen reported its third-quarter 2025 earnings, revealing a non-GAAP earnings per share of $4.81. This figure significantly surpassed analyst projections of $3.88, marking an 18% increase compared to the previous year. The company’s revenue for the quarter reached approximately $2.53 billion, exceeding expectations of $2.34 billion and showing a 2.8% year-over-year growth. Despite these positive financial results, Biogen’s stock target was adjusted by Baird to $250 from $255, citing slow growth in newly launched products, although the firm maintained an Outperform rating. Meanwhile, Guggenheim raised its stock price target to $185 from $165, maintaining a Buy rating following the earnings report. Biogen is also set to present new data from its felzartamab clinical development programs at the American Society of Nephrology’s Kidney Week 2025. This presentation will include novel longitudinal gene expression data for IgA nephropathy patients treated with felzartamab. These developments highlight Biogen’s ongoing efforts in clinical research and market performance.
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