9,308 Shares of Biogen Inc. $BIIB Bought by Triasima Portfolio Management inc.

Key Points

• Triasima Portfolio Management bought 9,308 Biogen shares worth approximately $2.1 million in the third quarter. Institutional investors collectively own 87.93% of Biogen’s outstanding stock.
• Analyst sentiment is broadly positive: Biogen has a “Moderate Buy” consensus rating and an average price target of $236.04, with JPMorgan raising its target to $300 and upgrading the stock to “overweight.”
• Biogen reported quarterly EPS of $3.60, beating estimates of $2.94, while revenue rose 3.4% year over year to $2.74 billion. The stock recently opened at $235.35, near its 52-week high of $240.99.

Triasima Portfolio Management inc. purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 9,308 shares of the biotechnology company's stock, valued at approximately $2,102,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Biogen during the 2nd quarter valued at about $3,453,878,000. Primecap Management Co. CA acquired a new position in Biogen in the second quarter worth approximately $3,274,304,000. Legal & General Group Plc acquired a new position in Biogen in the second quarter worth approximately $322,640,000. Bank of America Corp DE acquired a new position in Biogen in the second quarter worth approximately $241,172,000. Finally, Deutsche Bank AG bought a new position in Biogen during the second quarter valued at approximately $193,165,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Seaport Research Partners upgraded shares of Biogen to an "outperform" rating in a research note on Monday. HSBC boosted their target price on shares of Biogen from $165.00 to $175.00 and gave the stock a "reduce" rating in a research report on Thursday, September 10th. Piper Sandler restated an "overweight" rating and set a $245.00 price target (up from $225.00) on shares of Biogen in a research note on Thursday, September 3rd. Wedbush raised their price target on shares of Biogen from $201.00 to $215.00 and gave the company a "neutral" rating in a report on Thursday, July 30th. Finally, JPMorgan Chase & Co. raised shares of Biogen from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $210.00 to $300.00 in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $236.04.

Biogen Stock Performance

BIIB opened at $235.35 on Friday. The company has a market cap of $34.77 billion, a PE ratio of 41.65, a price-to-earnings-growth ratio of 2.57 and a beta of 0.09. The stock has a 50-day moving average of $219.47 and a 200-day moving average of $203.65. Biogen Inc. has a 52-week low of $138.00 and a 52-week high of $240.99. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 1.87.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, beating analysts' consensus estimates of $2.94 by $0.66. Biogen had a return on equity of 11.18% and a net margin of 8.32%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the prior year, the firm posted $5.47 EPS. The firm'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. As a group, equities research analysts forecast that Biogen Inc. will post 12.41 earnings per share for the current fiscal year.

About Biogen

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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