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

Biogen Inc. (NASDAQ:BIIB) shares reached 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 traded. The stock had previously closed at $199.59.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. HSBC boosted their target price on Biogen from $143.00 to $150.00 and gave the stock a “reduce” rating in a research report on Tuesday, March 17th. Wedbush lifted their price target on Biogen from $191.00 to $196.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Citigroup boosted their price objective on Biogen from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Freedom Capital upgraded shares of Biogen from a “hold” rating to a “strong-buy” rating in a report on Friday, May 1st. Finally, Morgan Stanley lifted their target price on shares of Biogen from $206.00 to $224.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $217.37.

Biogen Trading Up 2.3%

The company has a market cap of $30.13 billion, a PE ratio of 21.92 and a beta of 0.20. 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 company has a 50 day simple moving average of $192.20 and a two-hundred day simple moving average of $185.31.

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

Hedge Funds Weigh In On Biogen

Several institutional investors and hedge funds have recently modified their holdings of the stock. Reflection Asset Management acquired a new position in shares of Biogen in the fourth quarter worth $25,000. WPG Advisers LLC boosted its position in Biogen by 417.9% during the fourth quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 117 shares during the last quarter. Accredited Wealth Management LLC grew its stake in Biogen by 1,233.3% in the third quarter. Accredited Wealth Management LLC now owns 200 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 185 shares in the last quarter. First Horizon Corp purchased a new position in Biogen in the fourth quarter valued at about $30,000. Finally, WFA of San Diego LLC acquired a new position in Biogen in the 2nd quarter worth about $32,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

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.