Biogen (NASDAQ:BIIB) Sets New 1-Year High – Here’s What Happened

Biogen Inc. (NASDAQ:BIIB) hit a new 52-week high on Tuesday . The stock traded as high as $222.28 and last traded at $220.9550, with a volume of 154444 shares traded. The stock had previously closed at $218.12.

Analyst Upgrades and Downgrades

BIIB has been the subject of a number of research analyst reports. Piper Sandler reaffirmed an “overweight” rating on shares of Biogen in a report on Tuesday, July 14th. Needham & Company LLC raised their price objective on shares of Biogen from $255.00 to $256.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Jefferies Financial Group restated a “buy” rating on shares of Biogen in a research report on Monday, July 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biogen in a research report on Monday, June 22nd. Finally, TD Cowen lifted their price target on shares of Biogen from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $227.79.

Biogen Stock Performance

The company has a debt-to-equity ratio of 0.39, a current ratio of 1.87 and a quick ratio of 1.26. The stock has a 50 day simple moving average of $206.87 and a two-hundred day simple moving average of $195.38. The company has a market cap of $32.66 billion, a PE ratio of 39.13, a PEG ratio of 6.88 and a beta of 0.17.

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. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.46 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The company’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Equities analysts predict that Biogen Inc. will post 12.39 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Biogen during the second quarter valued at $3,453,878,000. Orbimed Advisors LLC purchased a new position in Biogen in the 1st quarter valued at about $11,293,000. LSV Asset Management lifted its holdings in Biogen by 3.3% in the 4th quarter. LSV Asset Management now owns 316,815 shares of the biotechnology company’s stock valued at $55,756,000 after purchasing an additional 9,976 shares in the last quarter. Catalyst Funds Management Pty Ltd acquired a new stake in shares of Biogen during the 4th quarter worth about $2,006,000. Finally, Systematic Financial Management LP boosted its stake in shares of Biogen by 256.3% during the 4th quarter. Systematic Financial Management LP now owns 16,640 shares of the biotechnology company’s stock worth $2,928,000 after purchasing an additional 11,970 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Company Profile

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.