Biogen (NASDAQ:BIIB) Hits New 1-Year High – Time to Buy?

Biogen Inc. (NASDAQ:BIIB) reached a new 52-week high during trading on Friday . The company traded as high as $169.00 and last traded at $168.59, with a volume of 988455 shares traded. The stock had previously closed at $164.73.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BIIB shares. William Blair reiterated an “outperform” rating on shares of Biogen in a research report on Wednesday, September 24th. Jefferies Financial Group began coverage on shares of Biogen in a research note on Thursday, September 25th. They issued a “buy” rating and a $190.00 price target on the stock. HC Wainwright increased their price objective on shares of Biogen from $187.00 to $194.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Robert W. Baird cut their price objective on shares of Biogen from $255.00 to $250.00 in a research report on Friday, October 31st. Finally, Morgan Stanley lifted their price target on Biogen from $144.00 to $149.00 and gave the company an “equal weight” rating in a research note on Friday, October 10th. Ten investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $177.46.

Biogen Price Performance

The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50. The company has a fifty day moving average price of $147.83 and a two-hundred day moving average price of $135.94. The company has a market cap of $24.58 billion, a P/E ratio of 16.02, a PEG ratio of 1.17 and a beta of 0.10.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, beating the consensus estimate of $3.89 by $0.92. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.08 earnings per share. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. On average, sell-side analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Biogen news, insider Priya Singhal sold 517 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total value of $69,045.35. Following the completion of the sale, the insider owned 5,772 shares in the company, valued at $770,850.60. This trade represents a 8.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Biogen

A number of institutional investors and hedge funds have recently modified their holdings of the company. Generali Investments CEE investicni spolecnost a.s. raised its holdings in 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 worth $4,867,000 after buying an additional 11,695 shares during the last quarter. Privium Fund Management B.V. bought a new stake in shares of Biogen during the second quarter worth about $2,666,000. Nordea Investment Management AB increased its position in shares of Biogen by 5.7% during the second 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 in the last quarter. Point72 Europe London LLP acquired a new stake in shares of Biogen in the 1st quarter worth about $11,286,000. Finally, Motley Fool Asset Management LLC lifted its position in Biogen by 64.7% in the 1st quarter. Motley Fool Asset Management LLC now owns 6,809 shares of the biotechnology company’s stock valued at $932,000 after acquiring an additional 2,676 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer’s disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.