Biogen Inc. $BIIB Shares Bought by Frank Rimerman Advisors LLC

Key Points

• Frank Rimerman Advisors LLC increased its Biogen stake by 416.8% in the third quarter, owning 26,859 shares valued at approximately $6.1 million.
• Institutional investors hold 87.93% of Biogen’s outstanding shares, with major new positions from BlackRock, Primecap Management, Legal & General, Bank of America, and Deutsche Bank.
• Biogen reported quarterly earnings of $3.60 per share, exceeding analyst estimates, while Wall Street maintains a “Moderate Buy” consensus rating with an average price target of $236.04.

Frank Rimerman Advisors LLC lifted its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 416.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,859 shares of the biotechnology company's stock after purchasing an additional 21,662 shares during the quarter. Frank Rimerman Advisors LLC's holdings in Biogen were worth $6,067,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in BIIB. BlackRock Inc. purchased a new position in shares of Biogen in the 2nd quarter worth $3,453,878,000. Primecap Management Co. CA purchased a new stake in Biogen during the second quarter worth approximately $3,274,304,000. Legal & General Group Plc purchased a new stake in Biogen during the second quarter worth approximately $322,640,000. Bank of America Corp DE acquired a new stake in shares of Biogen in the second quarter worth $241,172,000. Finally, Deutsche Bank AG acquired a new stake in shares of Biogen in the second quarter worth $193,165,000. Hedge funds and other institutional investors own 87.93% of the company's stock.

Biogen Trading Down 1.1%

BIIB opened at $232.65 on Friday. The firm's 50 day moving average is $219.97 and its 200-day moving average is $203.85. Biogen Inc. has a 52-week low of $138.00 and a 52-week high of $240.99. The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $34.37 billion, a P/E ratio of 41.18, a P/E/G ratio of 2.58 and a beta of 0.09.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its 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 business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The business's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Analysts expect that Biogen Inc. will post 12.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BIIB has been the topic of several recent research reports. Bank of America reduced their target price on shares of Biogen from $217.00 to $215.00 and set a "neutral" rating on the stock in a report on Tuesday, July 21st. Needham & Company LLC raised their price objective on Biogen from $255.00 to $256.00 and gave the company a "buy" rating in a research report on Monday, June 29th. Mizuho raised their price objective on Biogen from $221.00 to $241.00 and gave the company an "outperform" rating in a research report on Tuesday, August 4th. BMO Capital Markets restated a "market perform" rating and set a $220.00 price objective on shares of Biogen in a research note on Monday, October 12th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Biogen in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $236.04.

Biogen Company Profile

Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for serious neurological and neurodegenerative diseases. Its research focuses on conditions including multiple sclerosis, spinal muscular atrophy, Alzheimer's disease, amyotrophic lateral sclerosis and rare neuromuscular disorders.

Biogen's products include Spinraza (nusinersen) for spinal muscular atrophy, Tysabri (natalizumab) and Tecfidera (dimethyl fumarate) for multiple sclerosis, Qalsody (tofersen) for a genetically defined form of ALS, and Skyclarys (omaveloxolone) for Friedreich's ataxia.

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