Biogen (NASDAQ:BIIB) Reaches New 52-Week High – Should You Buy?

Biogen Inc. (NASDAQ:BIIB)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $185.59 and last traded at $185.79, with a volume of 233880 shares changing hands. The stock had previously closed at $182.61.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wall Street Zen lowered Biogen from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. UBS Group assumed coverage on shares of Biogen in a research note on Tuesday. They issued a “neutral” rating and a $185.00 price target for the company. Mizuho boosted their price objective on shares of Biogen from $169.00 to $177.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Truist Financial raised their target price on shares of Biogen from $142.00 to $190.00 and gave the stock a “hold” rating in a report on Thursday. Finally, Hsbc Global Res downgraded shares of Biogen from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 10th. Ten investment analysts have rated the stock with a Buy rating, fifteen have issued 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 a consensus rating of “Hold” and an average price target of $187.81.

Biogen Stock Performance

The business’s fifty day moving average is $172.38 and its 200-day moving average is $149.80. The company has a quick ratio of 2.04, a current ratio of 2.72 and a debt-to-equity ratio of 0.35. The company has a market cap of $27.29 billion, a PE ratio of 16.96, a P/E/G ratio of 1.56 and a beta of 0.13.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share for the quarter, topping the consensus estimate of $3.89 by $0.92. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.34 billion. Biogen had a net margin of 15.98% and a return on equity of 14.13%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the firm earned $4.08 earnings per share. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. As a group, research analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Institutional Trading of Biogen

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Banque Pictet & Cie SA grew its holdings in Biogen by 5.5% during the 2nd quarter. Banque Pictet & Cie SA now owns 72,025 shares of the biotechnology company’s stock valued at $9,046,000 after purchasing an additional 3,751 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. boosted its position in shares of Biogen by 43.2% during the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 38,755 shares of the biotechnology company’s stock valued at $4,867,000 after buying an additional 11,695 shares during the period. Valeo Financial Advisors LLC bought a new position in shares of Biogen during the second quarter valued at approximately $225,000. Privium Fund Management B.V. purchased a new stake in shares of Biogen in the second quarter worth approximately $2,666,000. Finally, Nordea Investment Management AB lifted its stake in shares of Biogen by 5.7% during the 2nd quarter. Nordea Investment Management AB now owns 125,935 shares of the biotechnology company’s stock worth $15,810,000 after acquiring an additional 6,811 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

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.