24,051 Biogen Inc. $BIIB Shares Sold by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners cut its Biogen stake by 91.3% in the third quarter, selling 24,051 shares and retaining 2,287 shares valued at approximately $517,000. Institutional investors collectively own 87.93% of Biogen.
• Analysts remain broadly positive, with Biogen carrying a consensus “Moderate Buy” rating and an average price target of $236.04. Ratings include 18 Buys, 12 Holds, one Strong Buy and one Sell.
• Biogen reported quarterly EPS of $3.60, exceeding the $2.94 consensus estimate, while revenue reached $2.74 billion versus expectations of $2.46 billion. The stock opened at $232.65, near its 52-week high of $240.99.

Curated Wealth Partners LLC lessened its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 91.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,287 shares of the biotechnology company's stock after selling 24,051 shares during the quarter. Curated Wealth Partners LLC's holdings in Biogen were worth $517,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Reflection Asset Management acquired a new position in shares of Biogen in the 4th quarter valued at $25,000. Bell Investment Advisors Inc acquired a new position in Biogen in the second quarter valued at about $27,000. MV Capital Management Inc. acquired a new position in Biogen in the fourth quarter valued at about $34,000. SHP Wealth Management purchased a new position in Biogen during the fourth quarter worth about $39,000. Finally, Ashurst Perkins Coie Trust Co increased its position in shares of Biogen by 92.2% during the third quarter. Ashurst Perkins Coie Trust Co now owns 173 shares of the biotechnology company's stock valued at $39,000 after acquiring an additional 83 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. BMO Capital Markets reissued a "market perform" rating and issued a $220.00 price objective on shares of Biogen in a research note on Monday. Royal Bank Of Canada cut their target price on shares of Biogen from $260.00 to $256.00 and set an "outperform" rating on the stock in a research note on Thursday, October 8th. Piper Sandler reiterated an "overweight" rating and set a $245.00 target price (up from $225.00) on shares of Biogen in a report on Thursday, September 3rd. Oppenheimer reissued an "outperform" rating and issued a $300.00 price target on shares of Biogen in a research report on Wednesday, July 29th. Finally, Wolfe Research raised Biogen from a "peer perform" rating to an "outperform" rating and set a $300.00 price objective on the stock in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $236.04.

Biogen Stock Performance

BIIB opened at $232.65 on Friday. The stock has a market cap of $34.37 billion, a P/E ratio of 16.85, a P/E/G ratio of 2.61 and a beta of 0.09. 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 stock's 50 day simple moving average is $219.97 and its 200 day simple moving average is $203.85. Biogen Inc. has a 1-year low of $138.00 and a 1-year high of $240.99.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.94 by $0.66. The firm 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%. Biogen's revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business earned $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, equities analysts anticipate that Biogen Inc. will post 12.38 EPS for the current fiscal year.

Biogen Profile

Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for serious neurological and neurodegenerative diseases. Its research focuses on conditions including multiple sclerosis, spinal muscular atrophy, Alzheimer's disease, amyotrophic lateral sclerosis and rare neuromuscular disorders.

Biogen's products include Spinraza (nusinersen) for spinal muscular atrophy, Tysabri (natalizumab) and Tecfidera (dimethyl fumarate) for multiple sclerosis, Qalsody (tofersen) for a genetically defined form of ALS, and Skyclarys (omaveloxolone) for Friedreich's ataxia.

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