Biogen (NASDAQ:BIIB) Sets New 52-Week High - What's Next?

Key Points

• Biogen shares reached a new 52-week high, trading as high as $226.43 and closing up 2.7% at $224.87.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $230.14; recent targets range from $200 to $280.
• Biogen exceeded quarterly expectations, reporting $3.60 in adjusted EPS versus $2.94 expected and revenue of $2.74 billion versus $2.46 billion forecast. Institutional investors own approximately 87.93% of the company’s stock.

Biogen Inc. (NASDAQ:BIIB - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $226.43 and last traded at $224.87, with a volume of 262187 shares changing hands. The stock had previously closed at $219.07.

Analyst Ratings Changes

A number of analysts have recently weighed in on BIIB shares. Bank of America reduced their target price on shares of Biogen from $217.00 to $215.00 and set a "neutral" rating on the stock in a report on Tuesday, July 21st. Barclays lifted their price target on Biogen from $185.00 to $200.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 29th. Canaccord Genuity Group boosted their price objective on Biogen from $245.00 to $248.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Guggenheim raised their price objective on Biogen from $260.00 to $280.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $245.00 price objective (up from $225.00) on shares of Biogen in a research note on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Biogen has a consensus rating of "Moderate Buy" and a consensus price target of $230.14.

Biogen Trading Up 2.7%

The company's 50 day simple moving average is $211.20 and its two-hundred day simple moving average is $198.54. The company has a market capitalization of $33.23 billion, a price-to-earnings ratio of 39.81, a P/E/G ratio of 2.38 and a beta of 0.17. 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 released its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, topping analysts' consensus estimates of $2.94 by $0.66. The company had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. Biogen's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the business earned $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, research analysts anticipate that Biogen Inc. will post 12.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Biogen

Several institutional investors and hedge funds have recently added to or reduced their stakes in BIIB. Rothschild Investment LLC grew its position in Biogen by 12.3% during the 4th quarter. Rothschild Investment LLC now owns 513 shares of the biotechnology company's stock worth $90,000 after acquiring an additional 56 shares during the last quarter. Wedbush Securities Inc. raised its position in Biogen by 5.1% in the 2nd quarter. Wedbush Securities Inc. now owns 1,164 shares of the biotechnology company's stock valued at $251,000 after purchasing an additional 56 shares during the last quarter. Meeder Advisory Services Inc. boosted its stake in Biogen by 1.2% in the first quarter. Meeder Advisory Services Inc. now owns 4,721 shares of the biotechnology company's stock worth $866,000 after purchasing an additional 57 shares in the last quarter. Kera Capital Partners Inc. grew its holdings in shares of Biogen by 3.5% during the first quarter. Kera Capital Partners Inc. now owns 1,723 shares of the biotechnology company's stock worth $316,000 after purchasing an additional 58 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of Biogen by 1.5% during the first quarter. Parallel Advisors LLC now owns 4,367 shares of the biotechnology company's stock worth $801,000 after purchasing an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company's stock.

Biogen Company Profile

Biogen Inc is a biotechnology company focused on discovering, developing and commercializing therapies for neurological and neurodegenerative diseases. Founded in 1978, the company is headquartered in Cambridge, Massachusetts, and serves patients and healthcare providers in markets around the world.

Biogen's portfolio includes treatments for multiple sclerosis, including Tecfidera, Vumerity, Tysabri, Avonex and Plegridy, as well as Spinraza for spinal muscular atrophy, developed in collaboration with Ionis Pharmaceuticals.

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