Biogen Inc. $BIIB Holdings Raised by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Biogen stake by 1,213.1% in the third quarter, acquiring 69,945 additional shares and ending with 75,711 shares worth approximately $17.1 million.
• Institutional investors collectively own 87.93% of Biogen, while several analysts have raised price targets. The stock has a consensus “Moderate Buy” rating and an average target price of $236.04.
• Biogen reported quarterly EPS of $3.60, beating estimates of $2.94, and revenue of $2.74 billion, up 3.4% year over year. Shares opened at $232.65, near the company’s 52-week high of $240.99.

Assenagon Asset Management S.A. grew its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 1,213.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,711 shares of the biotechnology company's stock after acquiring an additional 69,945 shares during the quarter. Assenagon Asset Management S.A. owned about 0.05% of Biogen worth $17,102,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bell Investment Advisors Inc purchased a new stake in shares of Biogen during the second quarter worth about $27,000. Reflection Asset Management acquired a new position in shares of Biogen in the fourth quarter valued at approximately $25,000. Ashurst Perkins Coie Trust Co raised its position in shares of Biogen by 92.2% in the third quarter. Ashurst Perkins Coie Trust Co now owns 173 shares of the biotechnology company's stock valued at $39,000 after buying an additional 83 shares during the last quarter. MV Capital Management Inc. purchased a new position in shares of Biogen during the fourth quarter valued at approximately $34,000. Finally, Triumph Capital Management lifted its stake in shares of Biogen by 20,800.0% during the third quarter. Triumph Capital Management now owns 209 shares of the biotechnology company's stock valued at $47,000 after buying an additional 208 shares during the period. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BIIB has been the topic of a number of analyst reports. Canaccord Genuity Group raised their target price on shares of Biogen from $245.00 to $248.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Oppenheimer reaffirmed an "outperform" rating and issued a $300.00 target price on shares of Biogen in a research note on Wednesday, July 29th. HSBC boosted their price target on Biogen from $165.00 to $175.00 and gave the company a "reduce" rating in a report on Thursday, September 10th. Piper Sandler reiterated an "overweight" rating and issued a $245.00 price target (up from $225.00) on shares of Biogen in a report on Thursday, September 3rd. Finally, BMO Capital Markets reissued a "market perform" rating and set a $220.00 price target on shares of Biogen in a research note on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $236.04.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $232.65 on Monday. The stock has a 50-day simple moving average of $219.97 and a 200-day simple moving average of $203.97. The stock has a market capitalization of $34.37 billion, a P/E ratio of 41.18, a PEG ratio of 2.58 and a beta of 0.09. Biogen Inc. has a 1 year low of $138.00 and a 1 year 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 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 net margin of 8.32% and a return on equity of 11.18%. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter last year, the firm posted $5.47 earnings per share. Biogen's revenue for the quarter was up 3.4% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Equities analysts forecast that Biogen Inc. will post 12.38 earnings per share for the current year.

Biogen Company Profile

Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for neurological and neurodegenerative diseases. Its areas of focus include multiple sclerosis, Alzheimer's disease, spinal muscular atrophy, amyotrophic lateral sclerosis and other serious medical conditions.

The company's portfolio includes multiple sclerosis treatments such as Tecfidera, Vumerity, Tysabri, Plegridy and Avonex, as well as Spinraza for spinal muscular atrophy. Biogen also markets Leqembi, an Alzheimer's disease treatment developed in collaboration with Eisai, and works with partners to advance additional therapies and biosimilars.

Biogen was founded in 1978 and is headquartered in Cambridge, Massachusetts.

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