Biogen (NASDAQ:BIIB) Hits New 12-Month High – Time to Buy?

Biogen Inc. (NASDAQ:BIIB)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $170.91 and last traded at $170.0220, with a volume of 387300 shares. The stock had previously closed at $167.93.

Analyst Ratings Changes

Several equities research analysts have issued reports on BIIB shares. HC Wainwright lifted their price target on Biogen from $187.00 to $194.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. BMO Capital Markets increased their price target on shares of Biogen from $128.00 to $150.00 in a research report on Friday, October 31st. Piper Sandler restated a “neutral” rating and issued a $157.00 price objective (up from $118.00) on shares of Biogen in a report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a report on Wednesday, September 24th. Finally, Citigroup reissued a “neutral” rating on shares of Biogen in a research note on Wednesday, September 24th. Ten investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Biogen has a consensus rating of “Hold” and a consensus target price of $178.96.

Biogen Trading Up 4.2%

The stock’s 50-day simple moving average is $150.84 and its 200-day simple moving average is $137.93. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50. The firm has a market capitalization of $25.72 billion, a PE ratio of 16.76, a P/E/G ratio of 1.17 and a beta of 0.10.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.92. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same period in the previous year, the company posted $4.08 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. As a group, sell-side analysts expect that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Activity at Biogen

In other news, insider Priya Singhal sold 517 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total value of $69,045.35. Following the sale, the insider directly owned 5,772 shares of the company’s stock, valued at $770,850.60. The trade was a 8.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Biogen

Several large investors have recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Biogen by 2.8% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 11,213 shares of the biotechnology company’s stock worth $1,534,000 after buying an additional 301 shares in the last quarter. Wedbush Securities Inc. bought a new stake in shares of Biogen in the 1st quarter worth $210,000. AE Wealth Management LLC lifted its holdings in shares of Biogen by 8.9% during the first quarter. AE Wealth Management LLC now owns 1,731 shares of the biotechnology company’s stock valued at $237,000 after purchasing an additional 141 shares in the last quarter. Pinnacle Associates Ltd. boosted its position in shares of Biogen by 3.8% during the first quarter. Pinnacle Associates Ltd. now owns 4,417 shares of the biotechnology company’s stock valued at $604,000 after buying an additional 163 shares during the last quarter. Finally, Lifeworks Advisors LLC increased its holdings in Biogen by 17.3% in the 1st quarter. Lifeworks Advisors LLC now owns 4,453 shares of the biotechnology company’s stock worth $609,000 after buying an additional 657 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer’s disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.