Biogen (NASDAQ:BIIB) Sets New 52-Week High – Time to Buy?

Shares of Biogen Inc. (NASDAQ:BIIB) hit a new 52-week high on Thursday . The stock traded as high as $206.25 and last traded at $205.4240, with a volume of 161498 shares. The stock had previously closed at $199.59.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BIIB shares. Evercore started coverage on shares of Biogen in a research report on Friday, May 15th. They issued an “outperform” rating for the company. Weiss Ratings upgraded Biogen from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Sanford C. Bernstein decreased their target price on Biogen from $201.00 to $200.00 in a research report on Thursday, April 30th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biogen in a report on Monday. Finally, Guggenheim raised their price objective on Biogen from $246.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $217.37.

Biogen Price Performance

The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.41 and a current ratio of 3.06. The firm has a market capitalization of $30.13 billion, a P/E ratio of 21.92 and a beta of 0.20. The business has a fifty day moving average of $192.20 and a 200-day moving average of $185.31.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.95 by $0.62. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The company’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.02 earnings per share. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. On average, sell-side analysts forecast that Biogen Inc. will post 13.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Biogen

A number of institutional investors have recently added to or reduced their stakes in the company. Generali Investments Management Co LLC raised its holdings in shares of Biogen by 408.2% in the 3rd quarter. Generali Investments Management Co LLC now owns 9,970 shares of the biotechnology company’s stock worth $1,397,000 after purchasing an additional 8,008 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Biogen by 1,793.8% during the fourth quarter. SG Americas Securities LLC now owns 183,829 shares of the biotechnology company’s stock worth $32,352,000 after buying an additional 174,122 shares in the last quarter. TD Asset Management Inc boosted its holdings in Biogen by 12.7% during the third quarter. TD Asset Management Inc now owns 161,195 shares of the biotechnology company’s stock worth $22,580,000 after buying an additional 18,168 shares in the last quarter. K.J. Harrison & Partners Inc acquired a new position in Biogen in the third quarter worth approximately $1,553,000. Finally, Farmers Trust Co. increased its holdings in shares of Biogen by 27.8% in the fourth quarter. Farmers Trust Co. now owns 33,185 shares of the biotechnology company’s stock valued at $5,840,000 after buying an additional 7,214 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

About Biogen

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.