Biogen Inc. (NASDAQ:BIIB – Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $202.93 and last traded at $201.3510, with a volume of 53426 shares traded. The stock had previously closed at $199.36.
Wall Street Analyst Weigh In
BIIB has been the topic of a number of research analyst reports. Wedbush increased their target price on Biogen from $191.00 to $196.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Citigroup increased their price objective on Biogen from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. The Goldman Sachs Group raised their price objective on Biogen from $231.00 to $238.00 and gave the company a “buy” rating in a report on Friday, April 24th. Guggenheim upped their target price on Biogen from $246.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings upgraded shares of Biogen from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Biogen has a consensus rating of “Moderate Buy” and an average target price of $214.23.
Check Out Our Latest Report on Biogen
Biogen Trading Up 0.6%
Biogen (NASDAQ:BIIB – Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share for the quarter, beating the consensus estimate of $2.95 by $0.62. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.29 billion. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.02 earnings per share. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. On average, equities research analysts anticipate that Biogen Inc. will post 14.31 EPS for the current fiscal year.
Institutional Investors Weigh In On Biogen
A number of large investors have recently added to or reduced their stakes in the company. Empowered Funds LLC increased its holdings in Biogen by 64.9% during the 1st quarter. Empowered Funds LLC now owns 7,054 shares of the biotechnology company’s stock valued at $965,000 after purchasing an additional 2,777 shares during the period. Focus Partners Wealth lifted its stake in Biogen by 172.2% in the first quarter. Focus Partners Wealth now owns 10,173 shares of the biotechnology company’s stock worth $1,392,000 after acquiring an additional 6,436 shares during the period. Sivia Capital Partners LLC purchased a new stake in Biogen in the second quarter worth $216,000. Cerity Partners LLC boosted its holdings in Biogen by 15.3% in the second quarter. Cerity Partners LLC now owns 46,552 shares of the biotechnology company’s stock valued at $5,847,000 after acquiring an additional 6,184 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in Biogen by 13.4% during the 2nd quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company’s stock valued at $336,000 after purchasing an additional 316 shares during the period. 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.
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