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

Biogen Inc. (NASDAQ:BIIB) shares reached a new 52-week high during mid-day 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 traded. The stock had previously closed at $233.48.

Several other analysts also recently commented on BIIB. Weiss Ratings raised shares of Biogen from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, September 24th. Jefferies Financial Group restated a “buy” rating on shares of Biogen in a research note on Monday, July 13th. Morgan Stanley lifted their target price on shares of Biogen from $222.00 to $231.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Stifel Nicolaus set a $242.00 target price on shares of Biogen in a report on Thursday, September 10th. Finally, Royal Bank Of Canada dropped their target price on shares of Biogen from $260.00 to $256.00 and set an “outperform” rating on the stock in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.96.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Biogen during the 2nd quarter valued at about $3,453,878,000. Primecap Management Co. CA purchased a new stake in shares of Biogen during the 2nd quarter valued at about $3,274,304,000. Wellington Management Group LLP lifted its stake in shares of Biogen by 5.3% in the 2nd quarter. Wellington Management Group LLP now owns 3,117,469 shares of the biotechnology company’s stock worth $673,560,000 after purchasing an additional 155,828 shares during the period. Amundi lifted its stake in shares of Biogen by 91.8% in the 2nd quarter. Amundi now owns 1,516,831 shares of the biotechnology company’s stock worth $327,727,000 after purchasing an additional 726,004 shares during the period. Finally, Legal & General Group Plc bought a new position in shares of Biogen in the 2nd quarter worth approximately $322,640,000. Institutional investors own 87.93% of the company’s stock.

Biogen Stock Performance

The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.39. The company has a market cap of $35.79 billion, a PE ratio of 42.83, a P/E/G ratio of 2.58 and a beta of 0.09. The business’s fifty day moving average is $220.49 and its 200-day moving average is $204.32.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 8.32% and a return on equity of 11.18%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business posted $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, research analysts predict 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.