Biogen (NASDAQ:BIIB) Sets New 12-Month High – Should You Buy?

Biogen Inc. (NASDAQ:BIIB)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $206.25 and last traded at $205.4240, with a volume of 161498 shares trading hands. The stock had previously closed at $199.59.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BIIB shares. Citigroup upped their price target on Biogen from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Truist Financial dropped their target price on Biogen from $193.00 to $189.00 and set a “hold” rating on the stock in a research note on Monday, April 13th. Canaccord Genuity Group increased their price target on Biogen from $230.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. Cantor Fitzgerald reissued an “overweight” rating on shares of Biogen in a report on Monday. Finally, Evercore started coverage on Biogen in a research note on Friday, May 15th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $217.37.

Biogen Stock Up 7.0%

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 business’s 50-day simple moving average is $193.37 and its 200-day simple moving average is $185.67. The company has a market capitalization of $31.89 billion, a PE ratio of 23.18 and a beta of 0.20.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.95 by $0.62. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.29 billion. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.02 earnings per share. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. As a group, equities research analysts anticipate that Biogen Inc. will post 13.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Biogen

Institutional investors and hedge funds have recently modified their holdings of the stock. Reflection Asset Management acquired a new stake in Biogen during the fourth quarter worth about $25,000. WPG Advisers LLC lifted its holdings in Biogen by 417.9% in the fourth quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 117 shares during the period. First Horizon Corp acquired a new position in Biogen in the fourth quarter valued at approximately $30,000. Root Financial Partners LLC boosted its position in Biogen by 198.4% in the 4th quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 123 shares in the last quarter. Finally, MV Capital Management Inc. purchased a new stake in Biogen in the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

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.