Allworth Financial LP Takes $1.74 Million Position in Biogen Inc. $BIIB

Key Points

• Allworth Financial LP acquired a new $1.74 million stake in Biogen during the second quarter, purchasing 8,033 shares. Institutional investors collectively own 87.93% of the company.
• Analysts remain broadly positive, with Biogen receiving a “Moderate Buy” consensus rating and an average price target of $227.07; recent targets range as high as $256.
• Biogen exceeded quarterly expectations, reporting $3.60 in earnings per share versus the $2.94 consensus and $2.74 billion in revenue, up 3.4% year over year.

Allworth Financial LP acquired a new stake in Biogen Inc. (NASDAQ:BIIB - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,033 shares of the biotechnology company's stock, valued at approximately $1,736,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bell Investment Advisors Inc purchased a new position in Biogen during the second quarter valued at approximately $27,000. Reflection Asset Management purchased a new stake in Biogen during the fourth quarter worth $25,000. WPG Advisers LLC boosted its position in Biogen by 417.9% during the 4th quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company's stock valued at $26,000 after acquiring an additional 117 shares in the last quarter. First Horizon Corp bought a new stake in Biogen during the 4th quarter valued at $30,000. Finally, Root Financial Partners LLC increased its holdings in shares of Biogen by 198.4% in the 4th quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company's stock valued at $33,000 after acquiring an additional 123 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on BIIB shares. HSBC reissued a "reduce" rating and set a $157.00 price target on shares of Biogen in a research report on Monday, July 6th. UBS Group lifted their price objective on shares of Biogen from $225.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. TD Cowen boosted their price objective on shares of Biogen from $215.00 to $225.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Needham & Company LLC increased their target price on shares of Biogen from $255.00 to $256.00 and gave the company a "buy" rating in a research report on Monday, June 29th. Finally, Freedom Capital upgraded shares of Biogen from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $227.07.

Biogen Stock Performance

BIIB opened at $216.78 on Friday. The firm has a fifty day moving average price of $205.53 and a 200 day moving average price of $194.48. Biogen Inc. has a 1 year low of $131.52 and a 1 year high of $222.15. The stock has a market cap of $32.03 billion, a P/E ratio of 38.37, a P/E/G ratio of 6.68 and a beta of 0.17. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.87 and a quick ratio of 1.26.

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

About Biogen

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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