Biogen (NASDAQ:BIIB) Reaches New 1-Year High – What’s Next?

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BIIB. Oppenheimer reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Biogen in a research note on Wednesday, July 29th. Barclays upped their target price on shares of Biogen from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 29th. HSBC reissued a “reduce” rating and issued a $157.00 price target on shares of Biogen in a research note on Monday, July 6th. Sanford C. Bernstein decreased their price objective on Biogen from $201.00 to $200.00 in a report on Thursday, April 30th. Finally, Wall Street Zen cut Biogen from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Biogen presently has an average rating of “Moderate Buy” and an average target price of $227.07.

Biogen Price Performance

The stock has a market cap of $31.67 billion, a price-to-earnings ratio of 37.94, a price-to-earnings-growth ratio of 6.90 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 company has a 50-day simple moving average of $205.20 and a two-hundred day simple moving average of $194.32.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the prior year, the firm posted $5.47 EPS. The firm’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. As a group, equities research analysts forecast that Biogen Inc. will post 12.39 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in Biogen during the second quarter worth about $3,453,878,000. LSV Asset Management increased its holdings in Biogen by 3.3% in the 4th quarter. LSV Asset Management now owns 316,815 shares of the biotechnology company’s stock valued at $55,756,000 after buying an additional 9,976 shares during the period. Orbimed Advisors LLC bought a new position in Biogen in the 1st quarter valued at about $11,293,000. Catalyst Funds Management Pty Ltd acquired a new position in shares of Biogen in the 4th quarter valued at approximately $2,006,000. Finally, Systematic Financial Management LP raised its position in shares of Biogen by 256.3% in the 4th quarter. Systematic Financial Management LP now owns 16,640 shares of the biotechnology company’s stock valued at $2,928,000 after buying an additional 11,970 shares in the last quarter. 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.