Artia Global Partners LP Acquires New Holdings in Biogen Inc. $BIIB

Key Points

• Artia Global Partners acquired 18,437 Biogen shares worth approximately $3.98 million during the second quarter. Institutional investors collectively own 87.93% of Biogen.
• Biogen reported quarterly EPS of $3.60, exceeding the $2.94 consensus estimate, while revenue rose 3.4% year over year to $2.74 billion.
• Analyst sentiment remains favorable, with a “Moderate Buy” consensus rating and an average price target of $227.79, versus the stock’s reported price of $221.07.

Artia Global Partners LP purchased a new stake in Biogen Inc. (NASDAQ:BIIB - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm purchased 18,437 shares of the biotechnology company's stock, valued at approximately $3,983,000.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Biogen in the second quarter valued at about $3,453,878,000. Primecap Management Co. CA purchased a new stake in shares of Biogen during the second quarter worth about $3,274,304,000. Norges Bank acquired a new position in shares of Biogen during the fourth quarter valued at about $464,408,000. Boston Partners acquired a new position in shares of Biogen during the fourth quarter valued at about $302,815,000. Finally, Legal & General Group Plc purchased a new position in shares of Biogen in the 2nd quarter valued at approximately $322,640,000. Institutional investors own 87.93% of the company's stock.

Biogen Stock Up 0.1%

BIIB stock opened at $221.07 on Thursday. The company has a market capitalization of $32.66 billion, a P/E ratio of 39.13, a price-to-earnings-growth ratio of 6.88 and a beta of 0.17. Biogen Inc. has a 12 month low of $131.52 and a 12 month high of $222.85. The firm's fifty day simple moving average is $206.87 and its 200-day simple moving average is $195.38. 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 issued its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.66. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The firm had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.46 billion. During the same quarter last year, the company posted $5.47 earnings per share. The firm's revenue was up 3.4% compared to the same quarter last year. 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 12.39 earnings per share for the current year.

Wall Street Analyst Weigh In

BIIB has been the subject of a number of recent analyst reports. Cantor Fitzgerald reiterated an "overweight" rating on shares of Biogen in a research note on Monday, June 22nd. Piper Sandler reaffirmed an "overweight" rating on shares of Biogen in a report on Tuesday, July 14th. Weiss Ratings downgraded shares of Biogen from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, August 12th. Barclays boosted their price objective on shares of Biogen from $185.00 to $200.00 and gave the company an "equal weight" rating in a report on Wednesday, July 29th. Finally, Evercore assumed coverage on Biogen in a research report on Friday, May 15th. They issued an "outperform" rating on the stock. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Biogen currently has an average rating of "Moderate Buy" and a consensus price target of $227.79.

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.

Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc. (NASDAQ:BIIB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source