Biogen (NASDAQ:BIIB) Trading 8.1% Higher - Still a Buy?

Key Points

• Biogen's stock price increased by 8.1% during trading, reaching a high of $151.40, significantly above its previous close of $140.08.
• Analysts have mixed sentiments, with 11 giving a Buy rating and 20 labeling it as Hold, while the average price target is $182.04.
• The company posted earnings of $5.47 per share for the last quarter, surpassing estimates, and reported a revenue of $2.65 billion, marking a 7.3% increase from the previous year.

Biogen Inc. (NASDAQ:BIIB - Get Free Report)'s stock price traded up 8.1% during trading on Wednesday . The company traded as high as $150.96 and last traded at $151.40. 1,418,274 shares were traded during mid-day trading, a decline of 9% from the average session volume of 1,563,750 shares. The stock had previously closed at $140.08.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Biogen in a research report on Thursday, September 25th. They issued a "buy" rating and a $190.00 price objective for the company. William Blair reiterated an "outperform" rating on shares of Biogen in a research report on Wednesday, September 24th. Needham & Company LLC reiterated a "hold" rating on shares of Biogen in a research report on Wednesday, September 24th. Wall Street Zen upgraded shares of Biogen from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Finally, Piper Sandler lifted their price target on shares of Biogen from $115.00 to $118.00 and gave the company a "neutral" rating in a research report on Friday, September 12th. Eleven research analysts have rated the stock with a Buy rating and twenty have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $182.04.

Biogen Price Performance

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 capitalization of $22.50 billion, a price-to-earnings ratio of 14.69, a P/E/G ratio of 1.09 and a beta of 0.11. The company has a 50-day moving average of $136.53 and a 200-day moving average of $130.53.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) 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 firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the firm posted $5.28 EPS. The company's quarterly revenue was up 7.3% compared to the same quarter last year. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. As a group, equities research analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Biogen

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Corient Private Wealth LLC raised its holdings in Biogen by 15.2% in the 2nd quarter. Corient Private Wealth LLC now owns 34,331 shares of the biotechnology company's stock valued at $4,312,000 after acquiring an additional 4,540 shares during the last quarter. Caldwell Trust Co acquired a new position in Biogen in the 2nd quarter valued at $50,000. Valeo Financial Advisors LLC acquired a new position in Biogen in the 2nd quarter valued at $225,000. Osaic Holdings Inc. grew its stake in shares of Biogen by 12.1% during the 2nd quarter. Osaic Holdings Inc. now owns 8,735 shares of the biotechnology company's stock valued at $1,098,000 after buying an additional 941 shares during the period. Finally, Lavaca Capital LLC increased its holdings in shares of Biogen by 56.8% during the 2nd quarter. Lavaca Capital LLC now owns 447 shares of the biotechnology company's stock worth $56,000 after buying an additional 162 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

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.

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