Biogen Inc. $BIIB Shares Bought by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group increased its Biogen stake by 15.8% in the second quarter, owning 932,374 shares valued at approximately $201.4 million. Institutional investors and hedge funds collectively own 87.93% of BIIB.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $227.79; recent firms raised targets as high as $300.
• Biogen exceeded quarterly expectations, reporting $3.60 in adjusted earnings per share versus a $2.94 consensus estimate and $2.74 billion in revenue, up 3.4% year over year.

Alyeska Investment Group L.P. lifted its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 15.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 932,374 shares of the biotechnology company's stock after acquiring an additional 127,324 shares during the quarter. Alyeska Investment Group L.P. owned 0.63% of Biogen worth $201,449,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of BIIB. BlackRock Inc. acquired a new stake in Biogen in the second quarter valued at $3,453,878,000. Orbimed Advisors LLC acquired a new stake in shares of Biogen during the 1st quarter worth about $11,293,000. LSV Asset Management grew its position in shares of Biogen by 3.3% in the 4th quarter. LSV Asset Management now owns 316,815 shares of the biotechnology company's stock valued at $55,756,000 after buying an additional 9,976 shares during the last quarter. Catalyst Funds Management Pty Ltd acquired a new stake in shares of Biogen during the fourth quarter worth about $2,006,000. Finally, Systematic Financial Management LP lifted its holdings in shares of Biogen by 256.3% in the 4th quarter. Systematic Financial Management LP now owns 16,640 shares of the biotechnology company's stock valued at $2,928,000 after purchasing an additional 11,970 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BIIB. Oppenheimer restated an "outperform" rating and set a $300.00 target price on shares of Biogen in a research report on Wednesday, July 29th. Guggenheim raised their price objective on shares of Biogen from $260.00 to $280.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. HC Wainwright boosted their price target on Biogen from $237.00 to $251.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Canaccord Genuity Group increased their price objective on Biogen from $245.00 to $248.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Finally, Wedbush boosted their target price on Biogen from $201.00 to $215.00 and gave the company a "neutral" rating in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $227.79.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $218.50 on Friday. The business's 50 day simple moving average is $207.81 and its 200-day simple moving average is $195.68. The firm has a market capitalization of $32.28 billion, a price-to-earnings ratio of 38.67, a price-to-earnings-growth ratio of 6.81 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 Inc. has a 12 month low of $131.52 and a 12 month high of $222.85.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings data 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 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% on a year-over-year basis. During the same period last year, the business posted $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, equities analysts forecast that Biogen Inc. will post 12.39 earnings per share for the current fiscal year.

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.

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