Biogen (NASDAQ:BIIB) Stock Price Up 5.1% - Still a Buy?

Key Points

• Biogen Inc.'s stock price surged by 5.1% in mid-day trading, reaching a last traded price of $139.02, despite a significant drop in trading volume.
• The company recently reported $5.47 earnings per share, exceeding estimates and showing a 7.3% year-over-year revenue increase.
• Analysts have mixed opinions on Biogen, with eleven giving a buy rating and twenty-one giving a hold rating, resulting in a consensus target price of $185.74.

Biogen Inc. (NASDAQ:BIIB - Get Free Report)'s share price shot up 5.1% during trading on Tuesday . The stock traded as high as $138.76 and last traded at $139.02. 282,628 shares traded hands during trading, a decline of 82% from the average session volume of 1,540,993 shares. The stock had previously closed at $132.22.

Analyst Upgrades and Downgrades

BIIB has been the topic of a number of recent research reports. Truist Financial started coverage on Biogen in a research report on Monday, July 21st. They set a "hold" rating and a $142.00 price objective on the stock. Royal Bank Of Canada lifted their price target on Biogen from $208.00 to $219.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Wall Street Zen raised shares of Biogen from a "buy" rating to a "strong-buy" rating in a report on Friday. Morgan Stanley cut their price objective on Biogen from $146.00 to $144.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Finally, Wedbush reaffirmed a "neutral" rating and issued a $121.00 price target on shares of Biogen in a research note on Thursday, June 12th. Eleven investment analysts have rated the stock with a Buy rating and twenty-one have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $185.74.

Biogen Trading Up 0.5%

The company has a 50 day moving average of $132.65 and a 200-day moving average of $130.63. 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 stock has a market cap of $20.62 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 1.10 and a beta of 0.11.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share for the quarter, topping the consensus estimate of $3.93 by $1.54. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the prior year, the business earned $5.28 EPS. Biogen's revenue was up 7.3% on a year-over-year basis. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. On average, research analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

Insider Activity at Biogen

In other Biogen news, insider Priya Singhal sold 517 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total transaction of $69,045.35. Following the completion of the transaction, the insider owned 5,772 shares of the company's stock, valued at approximately $770,850.60. This trade represents a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Rachid Izzar sold 2,223 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total value of $300,105.00. Following the transaction, the insider directly owned 6,330 shares of the company's stock, valued at $854,550. The trade was a 25.99% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Institutional Investors Weigh In On Biogen

A number of hedge funds and other institutional investors have recently made changes to their positions in BIIB. Osaic Holdings Inc. lifted its stake in shares of Biogen by 12.1% during the second quarter. Osaic Holdings Inc. now owns 8,735 shares of the biotechnology company's stock worth $1,098,000 after purchasing an additional 941 shares in the last quarter. Lavaca Capital LLC lifted its stake in shares of Biogen by 56.8% during the second quarter. Lavaca Capital LLC now owns 447 shares of the biotechnology company's stock worth $56,000 after purchasing an additional 162 shares in the last quarter. Orion Porfolio Solutions LLC lifted its stake in shares of Biogen by 15.0% during the second quarter. Orion Porfolio Solutions LLC now owns 8,587 shares of the biotechnology company's stock worth $1,078,000 after purchasing an additional 1,121 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Biogen by 24.2% during the second quarter. Thrivent Financial for Lutherans now owns 18,195 shares of the biotechnology company's stock worth $2,285,000 after purchasing an additional 3,544 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its stake in shares of Biogen by 61.3% during the second quarter. Neuberger Berman Group LLC now owns 11,116 shares of the biotechnology company's stock worth $1,396,000 after purchasing an additional 4,226 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company's stock.

Biogen Company Profile

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.