Biogen (NASDAQ:BIIB) Hits New 12-Month High After Analyst Upgrade

Key Points

• Biogen shares reached a new 52-week high, trading as high as $241.24 after Wells Fargo raised its price target from $250 to $310 and maintained an overweight rating.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $239.96 based on ratings from 32 analysts.
• Biogen reported quarterly earnings of $3.60 per share and revenue of $2.74 billion, exceeding analyst expectations; institutional investors own approximately 87.93% of the company’s stock.

Biogen Inc. (NASDAQ:BIIB - Get Free Report) shares reached a new 52-week high during trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $250.00 to $310.00. Wells Fargo & Company currently has an overweight rating on the stock. Biogen traded as high as $241.24 and last traded at $240.8730, with a volume of 66,727 shares trading hands. The stock had previously closed at $233.48.

Several other equities research analysts have also issued reports on the company. Stifel Nicolaus set a $242.00 price target on Biogen in a research note on Thursday, September 10th. Zacks Research upgraded Biogen from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 28th. Royal Bank Of Canada reduced their price objective on Biogen from $260.00 to $256.00 and set an "outperform" rating on the stock in a research report on Thursday, October 8th. Citigroup increased their price objective on Biogen from $200.00 to $215.00 and gave the company a "neutral" rating in a research report on Monday, August 3rd. Finally, Mizuho raised their price objective on Biogen from $221.00 to $241.00 and gave the company an "outperform" rating in a report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $239.96.

Institutional Investors Weigh In On Biogen

Institutional investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Biogen by 1,552.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 345,619 shares of the biotechnology company's stock worth $78,068,000 after purchasing an additional 324,703 shares during the period. CWA Asset Management Group LLC lifted its holdings in shares of Biogen by 11.2% during the third quarter. CWA Asset Management Group LLC now owns 42,412 shares of the biotechnology company's stock valued at $9,580,000 after purchasing an additional 4,285 shares during the last quarter. Capital Square LLC purchased a new position in shares of Biogen during the third quarter valued at approximately $205,000. Clark Wealth Partners boosted its position in shares of Biogen by 5,085.7% in the 3rd quarter. Clark Wealth Partners now owns 363 shares of the biotechnology company's stock worth $82,000 after purchasing an additional 356 shares in the last quarter. Finally, Grant Private Wealth Management Inc bought a new stake in shares of Biogen in the 3rd quarter worth approximately $266,000. Hedge funds and other institutional investors own 87.93% of the company's stock.

Biogen Stock Performance

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 stock has a market capitalization of $35.79 billion, a P/E ratio of 42.83, a PEG ratio of 2.58 and a beta of 0.09. The business has a 50-day moving average price of $220.49 and a 200 day moving average price of $204.32.

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, beating analysts' consensus estimates 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 return on equity of 11.18% and a net margin of 8.32%. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the company earned $5.47 EPS. 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 12.38 EPS for the current fiscal year.

About Biogen

Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for neurological and neurodegenerative diseases. Its areas of focus include multiple sclerosis, Alzheimer's disease, spinal muscular atrophy, amyotrophic lateral sclerosis and other serious medical conditions.

The company's portfolio includes multiple sclerosis treatments such as Tecfidera, Vumerity, Tysabri, Plegridy and Avonex, as well as Spinraza for spinal muscular atrophy. Biogen also markets Leqembi, an Alzheimer's disease treatment developed in collaboration with Eisai, and works with partners to advance additional therapies and biosimilars.

Biogen was founded in 1978 and is headquartered in Cambridge, Massachusetts.

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