Biogen (NASDAQ:BIIB) Sets New 1-Year High – Time to Buy?

Biogen Inc. (NASDAQ:BIIB) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $202.93 and last traded at $201.3510, with a volume of 53426 shares trading hands. The stock had previously closed at $199.36.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BIIB shares. HSBC increased their price target on Biogen from $143.00 to $150.00 and gave the stock a “reduce” rating in a research note on Tuesday, March 17th. Citigroup upped their price objective on shares of Biogen from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Stifel Nicolaus increased their target price on shares of Biogen from $202.00 to $214.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Mizuho boosted their price target on shares of Biogen from $207.00 to $236.00 and gave the company an “outperform” rating in a research report on Tuesday, February 10th. Finally, Truist Financial dropped their price target on shares of Biogen from $193.00 to $189.00 and set a “hold” rating on the stock in a research note on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Biogen has an average rating of “Moderate Buy” and a consensus price target of $214.23.

Biogen Stock Up 0.6%

The company has a current ratio of 3.06, a quick ratio of 2.41 and a debt-to-equity ratio of 0.34. The firm has a market cap of $29.62 billion, a P/E ratio of 21.52, a price-to-earnings-growth ratio of 1.73 and a beta of 0.19. The stock’s fifty day moving average is $184.68 and its two-hundred day moving average is $178.56.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $2.95 by $0.62. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same period in the previous year, the business earned $3.02 EPS. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. As a group, research analysts anticipate that Biogen Inc. will post 14.31 earnings per share for the current year.

Institutional Trading of Biogen

Several institutional investors and hedge funds have recently modified their holdings of the business. Reflection Asset Management bought a new position in shares of Biogen in the fourth quarter worth approximately $25,000. WPG Advisers LLC lifted its position in Biogen by 417.9% during the fourth quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 117 shares during the last quarter. Accredited Wealth Management LLC grew its stake in Biogen by 1,233.3% in the 3rd quarter. Accredited Wealth Management LLC now owns 200 shares of the biotechnology company’s stock worth $28,000 after buying an additional 185 shares in the last quarter. First Horizon Corp purchased a new position in Biogen in the 4th quarter worth approximately $30,000. Finally, WFA of San Diego LLC bought a new position in shares of Biogen in the 2nd quarter worth $32,000. 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.