Biogen (NASDAQ:BIIB) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of Biogen Inc. (NASDAQ:BIIB) crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $201.28 and traded as high as $223.85. Biogen shares last traded at $223.59, with a volume of 951,296 shares.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BIIB. Oppenheimer reiterated an “outperform” rating and issued a $300.00 target price on shares of Biogen in a report on Wednesday, July 29th. Jefferies Financial Group restated a “buy” rating on shares of Biogen in a report on Monday, July 13th. Citigroup lifted their price objective on Biogen from $200.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Needham & Company LLC increased their target price on shares of Biogen from $255.00 to $256.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Finally, HC Wainwright raised their price target on shares of Biogen from $237.00 to $251.00 and gave the company a “buy” rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Biogen presently has a consensus rating of “Moderate Buy” and a consensus price target of $230.14.

Biogen Price Performance

The stock has a market cap of $32.82 billion, a PE ratio of 39.32, a P/E/G ratio of 2.47 and a beta of 0.09. 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 business has a fifty day moving average of $216.49 and a 200 day moving average of $201.57.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.66. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the previous year, the business earned $5.47 EPS. Biogen’s revenue for the quarter was up 3.4% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Sell-side analysts anticipate that Biogen Inc. will post 12.41 earnings per share for the current year.

Institutional Trading of Biogen

Several institutional investors and hedge funds have recently bought and sold shares of BIIB. BlackRock Inc. acquired a new position in shares of Biogen in the 2nd quarter worth approximately $3,453,878,000. Primecap Management Co. CA acquired a new stake in shares of Biogen during the 2nd quarter valued at approximately $3,274,304,000. Wellington Management Group LLP lifted its stake in Biogen by 5.3% during the second 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 last quarter. Amundi lifted its stake in Biogen by 91.8% during the second 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 last quarter. Finally, Legal & General Group Plc acquired a new position in Biogen in the second quarter worth $322,640,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

About Biogen

Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for serious neurological and neurodegenerative diseases. Its research focuses on conditions including multiple sclerosis, spinal muscular atrophy, Alzheimer’s disease, amyotrophic lateral sclerosis and rare neuromuscular disorders.

Biogen’s products include Spinraza (nusinersen) for spinal muscular atrophy, Tysabri (natalizumab) and Tecfidera (dimethyl fumarate) for multiple sclerosis, Qalsody (tofersen) for a genetically defined form of ALS, and Skyclarys (omaveloxolone) for Friedreich’s ataxia.