Biogen (NASDAQ:BIIB) Sets New 52-Week High – Here’s What Happened

by · The Cerbat Gem

Biogen Inc. (NASDAQ:BIIB – Get Free Report) reached a new 52-week high during trading on Monday. The company traded as high as $229.62 and last traded at $228.8480, with a volume of 297708 shares trading hands. The stock had previously closed at $227.60.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. TD Cowen increased their target price on shares of Biogen from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. HC Wainwright upped their price objective on Biogen from $237.00 to $251.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Stifel Nicolaus set a $242.00 target price on Biogen in a report on Thursday, September 10th. Canaccord Genuity Group upped their price target on Biogen from $245.00 to $248.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings raised Biogen from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.14.

View Our Latest Stock Report on BIIB

Biogen Stock Up 0.4%

The company has a market capitalization of $33.78 billion, a PE ratio of 40.44, a price-to-earnings-growth ratio of 2.51 and a beta of 0.17. The firm’s 50-day simple moving average is $213.26 and its 200 day simple moving average is $199.63. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 1.87.

Biogen (NASDAQ:BIIB – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.94 by $0.66. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm posted $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, equities research analysts forecast that Biogen Inc. will post 12.41 earnings per share for the current year.

Hedge Funds Weigh In On Biogen

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Biogen during the second quarter worth $3,453,878,000. Primecap Management Co. CA purchased a new stake in shares of Biogen in the 2nd quarter worth about $3,274,304,000. Geode Capital Management LLC boosted its position in shares of Biogen by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 4,199,399 shares of the biotechnology company’s stock worth $736,435,000 after buying an additional 130,618 shares in the last quarter. Wellington Management Group LLP grew its stake in Biogen by 5.3% in the 2nd quarter. Wellington Management Group LLP now owns 3,117,469 shares of the biotechnology company’s stock valued at $673,560,000 after acquiring an additional 155,828 shares during the last quarter. Finally, Norges Bank purchased a new position in Biogen during the 4th quarter valued at about $464,408,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Company Profile

(Get Free Report)

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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