Biogen Inc. (NASDAQ:BIIB – Get Free Report)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $226.43 and last traded at $224.87, with a volume of 262187 shares changing hands. The stock had previously closed at $219.07.
Analysts Set New Price Targets
Several research firms have recently issued reports on BIIB. HC Wainwright raised their target price on shares of Biogen from $237.00 to $251.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Royal Bank Of Canada boosted their target price on Biogen from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday, August 25th. Stifel Nicolaus set a $242.00 price target on Biogen in a report on Thursday, September 10th. Needham & Company LLC boosted their price objective on Biogen from $255.00 to $256.00 and gave the company a “buy” rating in a report on Monday, June 29th. Finally, TD Cowen upped their price objective on Biogen from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and a consensus price target of $230.14.
Get Our Latest Research Report on Biogen
Biogen Stock Performance
Biogen (NASDAQ:BIIB – Get Free Report) last issued its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, topping the consensus estimate of $2.94 by $0.66. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.46 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, sell-side analysts anticipate that Biogen Inc. will post 12.41 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Biogen in the 2nd quarter valued at $3,453,878,000. Orbimed Advisors LLC bought a new stake in Biogen during the first quarter valued at about $11,293,000. Contrarius Group Holdings Ltd bought a new position in Biogen in the fourth quarter worth about $11,431,000. Nippon Life Global Investors Americas Inc. purchased a new stake in shares of Biogen during the second quarter valued at about $29,648,000. Finally, Sector Gamma AS grew its position in shares of Biogen by 13.2% in the 4th quarter. Sector Gamma AS now owns 85,475 shares of the biotechnology company’s stock worth $15,043,000 after buying an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.
Biogen Company Profile
Biogen Inc is a biotechnology company focused on discovering, developing and commercializing therapies for neurological and neurodegenerative diseases. Founded in 1978, the company is headquartered in Cambridge, Massachusetts, and serves patients and healthcare providers in markets around the world.
Biogen’s portfolio includes treatments for multiple sclerosis, including Tecfidera, Vumerity, Tysabri, Avonex and Plegridy, as well as Spinraza for spinal muscular atrophy, developed in collaboration with Ionis Pharmaceuticals.
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