Biogen (NASDAQ:BIIB) Reaches New 12-Month High – Time to Buy?

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Guggenheim upped their price objective on shares of Biogen from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Royal Bank Of Canada lifted their target price on shares of Biogen from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 25th. Oppenheimer restated an “outperform” rating and issued a $300.00 target price on shares of Biogen in a research note on Wednesday, July 29th. Truist Financial raised Biogen from a “hold” rating to a “buy” rating and upped their target price for the company from $190.00 to $235.00 in a report on Monday, July 13th. Finally, Wedbush lifted their price target on Biogen from $201.00 to $215.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. One equities 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 assigned 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 $227.79.

Biogen Stock Up 3.7%

The firm has a market capitalization of $33.11 billion, a P/E ratio of 39.61, a PEG ratio of 2.40 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. The stock has a 50 day moving average of $208.52 and a 200-day moving average of $196.06.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.94 by $0.66. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter last year, the business earned $5.47 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Research analysts predict that Biogen Inc. will post 12.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Biogen

Several institutional investors have recently made changes to their positions in BIIB. California State Teachers Retirement System grew its position in shares of Biogen by 21,439.6% in 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 purchasing an additional 47,314,458 shares in the last quarter. BlackRock Inc. purchased a new stake in Biogen during the 2nd quarter worth about $3,453,878,000. Primecap Management Co. CA bought a new position in Biogen in the 2nd quarter worth about $3,274,304,000. Geode Capital Management LLC grew 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 valued at $736,435,000 after buying an additional 130,618 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Biogen by 5.3% during the second quarter. Wellington Management Group LLP now owns 3,117,469 shares of the biotechnology company’s stock valued at $673,560,000 after buying an additional 155,828 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Company Profile

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.