Biogen (NASDAQ:BIIB) Hits New 1-Year High - What's Next?

Key Points

• Biogen shares reached a new 52-week high of $222.86, up from a prior close of $216.04, with the stock trading above both its 50-day and 200-day moving averages.
• Analyst sentiment remains broadly positive: 18 analysts rate Biogen a Buy and the consensus rating is “Moderate Buy,” with an average price target of $227.79.
• Biogen exceeded quarterly expectations, reporting $3.60 in adjusted EPS and $2.74 billion in revenue, while institutional investors own approximately 87.93% of the company’s shares.

Biogen Inc. (NASDAQ:BIIB - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $222.86 and last traded at $222.8450, with a volume of 357141 shares trading hands. The stock had previously closed at $216.04.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BIIB. Cantor Fitzgerald restated an "overweight" rating on shares of Biogen in a research report on Monday, June 22nd. Needham & Company LLC upped their target price on Biogen from $255.00 to $256.00 and gave the company a "buy" rating in a report on Monday, June 29th. Morgan Stanley increased their target price on shares of Biogen from $222.00 to $231.00 and gave the company an "equal weight" rating in a research report on Thursday, July 30th. Weiss Ratings lowered shares of Biogen from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, August 12th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Biogen in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $227.79.

Biogen Price Performance

The stock has a market capitalization of $33.11 billion, a P/E ratio of 39.61, a price-to-earnings-growth ratio of 2.40 and a beta of 0.17. The business's 50 day simple moving average is $208.52 and its two-hundred day simple moving average is $196.06. The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.39.

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

Institutional Trading of Biogen

Institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System boosted its position in shares of Biogen by 21,439.6% during the second quarter. California State Teachers Retirement System now owns 47,535,145 shares of the biotechnology company's stock valued at $10,270,443,000 after buying an additional 47,314,458 shares during the last quarter. BlackRock Inc. bought a new position in Biogen during the 2nd quarter valued at $3,453,878,000. Primecap Management Co. CA bought a new position in Biogen during the 2nd quarter valued at $3,274,304,000. Geode Capital Management LLC boosted its holdings in Biogen by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 4,199,399 shares of the biotechnology company's stock worth $736,435,000 after acquiring an additional 130,618 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Biogen by 5.3% during the 2nd quarter. Wellington Management Group LLP now owns 3,117,469 shares of the biotechnology company's stock worth $673,560,000 after acquiring an additional 155,828 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other 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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