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

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BIIB. Wedbush boosted their price target on Biogen from $201.00 to $215.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Evercore initiated coverage on shares of Biogen in a research report on Friday, May 15th. They set an “outperform” rating for the company. Piper Sandler reissued an “overweight” rating on shares of Biogen in a research note on Tuesday, July 14th. HSBC restated a “reduce” rating and issued a $157.00 target price on shares of Biogen in a report on Monday, July 6th. Finally, Zacks Research raised shares of Biogen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Biogen presently has an average rating of “Moderate Buy” and a consensus price target of $227.79.

Biogen Price Performance

The stock has a market capitalization of $32.77 billion, a P/E ratio of 39.26, a PEG ratio of 6.75 and a beta of 0.17. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 1.87. The business has a fifty day simple moving average of $205.92 and a 200-day simple moving average of $194.87.

Biogen (NASDAQ:BIIB) last released 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 company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. Biogen’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Sell-side analysts expect that Biogen Inc. will post 12.39 earnings per share for the current fiscal year.

Institutional Trading of Biogen

Several large investors have recently made changes to their positions in BIIB. California State Teachers Retirement System raised its stake in Biogen by 21,439.6% during the 2nd quarter. California State Teachers Retirement System now owns 47,535,145 shares of the biotechnology company’s stock worth $10,270,443,000 after buying an additional 47,314,458 shares during the period. Wedmont Private Capital grew its stake in Biogen by 3.6% in the second quarter. Wedmont Private Capital now owns 3,012 shares of the biotechnology company’s stock valued at $600,000 after acquiring an additional 104 shares during the period. HB Wealth Management LLC grew its stake in Biogen by 8.7% in the second quarter. HB Wealth Management LLC now owns 6,176 shares of the biotechnology company’s stock valued at $1,334,000 after acquiring an additional 495 shares during the period. Saudi Central Bank increased its holdings in shares of Biogen by 89.7% during the second quarter. Saudi Central Bank now owns 10,273 shares of the biotechnology company’s stock valued at $2,220,000 after acquiring an additional 4,858 shares in the last quarter. Finally, Noble Wealth Partners LLC acquired a new position in shares of Biogen during the second quarter worth approximately $290,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

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.