Biogen Inc. $BIIB Shares Acquired by Capital Investment Advisors LLC

Key Points

• Capital Investment Advisors LLC increased its Biogen stake by 1,347.6% in the third quarter, acquiring 27,558 additional shares and bringing its holdings to 29,603 shares valued at approximately $6.7 million.
• Institutional ownership remains high at 87.93%, with several other investment firms also increasing their positions in Biogen during the quarter.
• Analysts maintain a generally positive outlook, with Biogen receiving a “Moderate Buy” consensus rating and an average price target of $241.89; the company also exceeded quarterly earnings and revenue expectations.

Capital Investment Advisors LLC boosted its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 1,347.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,603 shares of the biotechnology company's stock after acquiring an additional 27,558 shares during the quarter. Capital Investment Advisors LLC's holdings in Biogen were worth $6,687,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BIIB. Align Financial LLC increased its position in shares of Biogen by 339.3% in the 3rd quarter. Align Financial LLC now owns 123 shares of the biotechnology company's stock valued at $28,000 after acquiring an additional 95 shares during the period. Bell Investment Advisors Inc acquired a new position in shares of Biogen during the 2nd quarter valued at about $27,000. Ashurst Perkins Coie Trust Co increased its position in shares of Biogen by 92.2% during the 3rd quarter. Ashurst Perkins Coie Trust Co now owns 173 shares of the biotechnology company's stock worth $39,000 after purchasing an additional 83 shares during the last quarter. Albion Financial Group UT raised its position in Biogen by 2,833.3% in the third quarter. Albion Financial Group UT now owns 176 shares of the biotechnology company's stock valued at $40,000 after purchasing an additional 170 shares during the period. Finally, Triumph Capital Management increased its stake in Biogen by 20,800.0% during the 3rd quarter. Triumph Capital Management now owns 209 shares of the biotechnology company's stock worth $47,000 after buying an additional 208 shares during the period. Institutional investors own 87.93% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on BIIB shares. Zacks Research raised Biogen from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 28th. Citigroup upped their target price on shares of Biogen from $200.00 to $215.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. Morgan Stanley upped their price objective on shares of Biogen from $222.00 to $231.00 and gave the company an "equal weight" rating in a research note on Thursday, July 30th. Weiss Ratings raised Biogen from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, September 24th. Finally, HC Wainwright raised their target price on shares of Biogen from $237.00 to $251.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Biogen has an average rating of "Moderate Buy" and an average price target of $241.89.

Biogen Price Performance

Shares of BIIB opened at $250.69 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.26 and a debt-to-equity ratio of 0.39. The stock's 50 day moving average is $223.60 and its two-hundred day moving average is $206.04. Biogen Inc. has a twelve month low of $138.00 and a twelve month high of $254.41. The firm has a market capitalization of $37.04 billion, a PE ratio of 18.17, a P/E/G ratio of 2.83 and a beta of 0.09.

Biogen (NASDAQ:BIIB - Get Free Report) last released its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, beating analysts' consensus estimates of $2.94 by $0.66. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.46 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%. Biogen's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Research analysts anticipate that Biogen Inc. will post 12.29 earnings per share for the current year.

Biogen 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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