Biogen (NASDAQ:BIIB) Sets New 1-Year High – Time to Buy?

Biogen Inc. (NASDAQ:BIIB)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $220.14 and last traded at $219.1490, with a volume of 114851 shares. The stock had previously closed at $212.55.

Analysts Set New Price Targets

Several research analysts have commented on BIIB shares. Needham & Company LLC boosted their price target on shares of Biogen from $255.00 to $256.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Morgan Stanley raised their price objective on shares of Biogen from $222.00 to $231.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Guggenheim lifted 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. Bank of America lowered their target price on shares of Biogen from $217.00 to $215.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Finally, TD Cowen raised their price target on Biogen from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. One equities research 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $227.07.

Biogen Price Performance

The company has a debt-to-equity ratio of 0.39, a current ratio of 1.87 and a quick ratio of 1.26. The company’s 50 day simple moving average is $204.36 and its 200 day simple moving average is $193.76. The company has a market capitalization of $32.27 billion, a PE ratio of 38.61, a price-to-earnings-growth ratio of 6.48 and a beta of 0.17.

Biogen (NASDAQ:BIIB) last issued 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. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the prior year, the business posted $5.47 EPS. The company’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 predict that Biogen Inc. will post 12.39 earnings per share for the current year.

Hedge Funds Weigh In On Biogen

Several hedge funds have recently made changes to their positions in the company. Reflection Asset Management acquired a new stake in shares of Biogen during the fourth quarter worth about $25,000. WPG Advisers LLC boosted its position in shares of Biogen by 417.9% in the 4th quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 117 shares during the period. Bell Investment Advisors Inc purchased a new position in Biogen during the 2nd quarter worth approximately $27,000. First Horizon Corp acquired a new position in Biogen during the fourth quarter worth approximately $30,000. Finally, WFA of San Diego LLC purchased a new stake in Biogen in the second quarter valued at approximately $32,000. 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.