Palo Alto Investors LP Makes New $30.31 Million Investment in Biogen Inc. $BIIB

Key Points

• Palo Alto Investors LP acquired 140,279 Biogen shares worth approximately $30.31 million, representing about 0.09% of the company. Institutional investors collectively own 87.93% of Biogen, including a new position by BlackRock valued at roughly $3.45 billion.
• Analysts remain broadly positive, with Biogen receiving a “Moderate Buy” consensus rating and an average price target of $227.79. Several firms recently raised their targets, including Guggenheim to $280 and Canaccord Genuity to $248.
• Biogen reported quarterly EPS of $3.60, exceeding estimates of $2.94, while revenue reached $2.74 billion and increased 3.4% year over year. Shares recently traded at $218.50, near their 52-week high of $222.85.

Palo Alto Investors LP acquired a new stake in Biogen Inc. (NASDAQ:BIIB - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 140,279 shares of the biotechnology company's stock, valued at approximately $30,308,681. Biogen accounts for approximately 0.0% of Palo Alto Investors LP's investment portfolio, making the stock its 10th largest holding. Palo Alto Investors LP owned about 0.09% of Biogen at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in Biogen during the second quarter valued at about $3,453,878,000. Orbimed Advisors LLC acquired a new position in Biogen during the first quarter worth $11,293,000. LSV Asset Management increased its holdings in shares of Biogen by 3.3% in the fourth quarter. LSV Asset Management now owns 316,815 shares of the biotechnology company's stock worth $55,756,000 after purchasing an additional 9,976 shares during the period. Catalyst Funds Management Pty Ltd purchased a new stake in Biogen in the 4th quarter worth approximately $2,006,000. Finally, Systematic Financial Management LP lifted its stake in Biogen by 256.3% during the 4th quarter. Systematic Financial Management LP now owns 16,640 shares of the biotechnology company's stock valued at $2,928,000 after acquiring an additional 11,970 shares during the period. Hedge funds and other institutional investors own 87.93% of the company's stock.

Wall Street Analysts Forecast Growth

BIIB has been the topic of several recent analyst reports. Guggenheim increased their target price on shares of Biogen from $260.00 to $280.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Barclays lifted their price objective on Biogen from $185.00 to $200.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 29th. Canaccord Genuity Group lifted their price target on shares of Biogen from $245.00 to $248.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Piper Sandler reaffirmed an "overweight" rating on shares of Biogen in a research note on Tuesday, July 14th. Finally, TD Cowen raised their target price on shares of Biogen from $215.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Biogen presently has an average rating of "Moderate Buy" and a consensus price target of $227.79.

Biogen Price Performance

BIIB stock traded down $3.00 during trading on Friday, hitting $218.50. The company had a trading volume of 517,409 shares, compared to its average volume of 1,227,909. The company has a current ratio of 1.87, a quick ratio of 1.26 and a debt-to-equity ratio of 0.39. Biogen Inc. has a fifty-two week low of $131.52 and a fifty-two week high of $222.85. The business has a 50 day moving average of $207.37 and a 200 day moving average of $195.52. The firm has a market capitalization of $32.28 billion, a price-to-earnings ratio of 38.67, a P/E/G ratio of 6.89 and a beta of 0.17.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.66. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The company's revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, research analysts predict that Biogen Inc. will post 12.39 earnings per share for the current year.

Biogen Company Profile

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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