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

Key Points

• Biogen shares reached a new 52-week high, trading as high as $222.28 and most recently around $220.96, above the prior close of $218.12.
• Analysts have generally turned more positive, with several firms raising price targets and Truist upgrading the stock to “buy.” The consensus rating is “Moderate Buy,” with an average price target of $227.79.
• Biogen exceeded quarterly expectations, reporting $3.60 in earnings per share versus a $2.94 consensus estimate and $2.74 billion in revenue, up 3.4% year over year. Institutional investors own approximately 87.93% of the company.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Jefferies Financial Group reissued a "buy" rating on shares of Biogen in a research report on Monday, July 13th. Guggenheim lifted their target price on Biogen from $260.00 to $280.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Canaccord Genuity Group increased their price target on Biogen from $245.00 to $248.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. UBS Group raised their price target on Biogen from $225.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Finally, Truist Financial upgraded shares of Biogen from a "hold" rating to a "buy" rating and upped their price objective for the company from $190.00 to $235.00 in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $227.79.

Biogen Stock Performance

The company has a fifty day moving average of $205.92 and a two-hundred day moving average of $194.87. The firm has a market capitalization of $32.77 billion, a price-to-earnings 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.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, topping the consensus estimate of $2.94 by $0.66. The firm had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.46 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The company's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business earned $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, equities research analysts predict that Biogen Inc. will post 12.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Bell Investment Advisors Inc acquired a new stake in Biogen during the second quarter worth approximately $27,000. Reflection Asset Management acquired a new stake in Biogen during the fourth quarter worth about $25,000. Root Financial Partners LLC grew its stake in Biogen by 198.4% during the fourth quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company's stock worth $33,000 after buying an additional 123 shares in the last quarter. MV Capital Management Inc. bought a new position in Biogen in the 4th quarter valued at about $34,000. Finally, Strive Financial Group LLC bought a new position in Biogen in the 4th quarter valued at about $35,000. 87.93% of the stock is owned by institutional investors.

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.

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