BlackRock Inc. bought a new stake in Biogen Inc. (NASDAQ:BIIB - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 15,985,736 shares of the biotechnology company's stock, valued at approximately $3,453,878,000. BlackRock Inc. owned approximately 10.82% of Biogen as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Empowered Funds LLC lifted its holdings in shares of Biogen by 64.9% in the 1st quarter. Empowered Funds LLC now owns 7,054 shares of the biotechnology company's stock worth $965,000 after purchasing an additional 2,777 shares during the last quarter. Focus Partners Wealth lifted its holdings 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 purchasing an additional 6,436 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Biogen in the second quarter valued at approximately $216,000. Cerity Partners LLC boosted its stake in Biogen by 15.3% during the 2nd quarter. Cerity Partners LLC now owns 46,552 shares of the biotechnology company's stock valued at $5,847,000 after purchasing an additional 6,184 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Biogen by 13.4% during the second quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company's stock valued at $336,000 after buying an additional 316 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.
Biogen Stock Performance
NASDAQ BIIB opened at $212.55 on Wednesday. Biogen Inc. has a 52-week low of $131.52 and a 52-week high of $219.72. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.87 and a quick ratio of 1.26. The firm has a market capitalization of $31.40 billion, a price-to-earnings ratio of 37.62, a P/E/G ratio of 6.48 and a beta of 0.17. The company's fifty day moving average is $204.36 and its two-hundred day moving average is $193.76.
Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, beating the consensus estimate of $2.94 by $0.66. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The firm had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.46 billion. During the same quarter in the prior year, the firm posted $5.47 EPS. The company's revenue for the quarter was up 3.4% on a year-over-year basis. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Equities research analysts forecast that Biogen Inc. will post 12.39 EPS for the current year.
Analysts Set New Price Targets
Several research analysts have issued reports on BIIB shares. Jefferies Financial Group restated a "buy" rating on shares of Biogen in a research report on Monday, July 13th. Barclays upped their target price on Biogen from $185.00 to $200.00 and gave the company an "equal weight" rating in a report on Wednesday, July 29th. Piper Sandler reiterated an "overweight" rating on shares of Biogen in a report on Tuesday, July 14th. Freedom Capital upgraded shares of Biogen from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. boosted their price target on Biogen from $175.00 to $185.00 and gave the stock a "neutral" rating in a research report on Thursday, April 23rd. One investment 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $227.07.
Read Our Latest Research Report on Biogen
About Biogen
(
Free Report)
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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