Biogen Inc. $BIIB Stock Acquired by Sterling Capital Management LLC

Key Points

• Sterling Capital Management increased its Biogen stake by 1,449.3% in the third quarter, purchasing 69,712 additional shares to hold 74,522 shares valued at approximately $16.8 million.
• Institutional investors and hedge funds own 87.93% of Biogen, with several major firms—including BlackRock, Primecap Management and Amundi—building significant positions.
• Analysts maintain a favorable outlook, with Biogen carrying a consensus “Moderate Buy” rating and an average price target of $241.89; the company also exceeded quarterly earnings and revenue estimates.

Sterling Capital Management LLC lifted its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 1,449.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,522 shares of the biotechnology company's stock after buying an additional 69,712 shares during the quarter. Sterling Capital Management LLC owned approximately 0.05% of Biogen worth $16,833,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Biogen in the second quarter valued at approximately $3,453,878,000. Primecap Management Co. CA purchased a new stake in Biogen in the 2nd quarter worth approximately $3,274,304,000. Wellington Management Group LLP increased its holdings in shares of Biogen by 5.3% during the 2nd quarter. Wellington Management Group LLP now owns 3,117,469 shares of the biotechnology company's stock valued at $673,560,000 after purchasing an additional 155,828 shares in the last quarter. Amundi lifted its stake in shares of Biogen by 91.8% in the 2nd quarter. Amundi now owns 1,516,831 shares of the biotechnology company's stock valued at $327,727,000 after purchasing an additional 726,004 shares during the period. Finally, Legal & General Group Plc purchased a new stake in Biogen during the second quarter worth $322,640,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BIIB has been the subject of a number of recent analyst reports. Royal Bank Of Canada cut their price objective on shares of Biogen from $260.00 to $256.00 and set an "outperform" rating for the company in a report on Thursday, October 8th. Needham & Company LLC raised their target price on Biogen from $255.00 to $256.00 and gave the company a "buy" rating in a research report on Monday, June 29th. TD Cowen raised their price objective on Biogen from $225.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday. Piper Sandler restated an "overweight" rating and issued a $245.00 price objective (up from $225.00) on shares of Biogen in a research report on Thursday, September 3rd. Finally, Zacks Research raised Biogen from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $241.89.

Biogen Price Performance

Shares of NASDAQ:BIIB traded down $3.15 during trading on Friday, reaching $250.69. The stock had a trading volume of 1,157,351 shares, compared to its average volume of 1,296,961. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 1.87. The business has a fifty day moving average price of $223.60 and a 200-day moving average price of $206.04. The stock has a market cap of $37.04 billion, a PE ratio of 44.37, a PEG ratio of 2.83 and a beta of 0.09. Biogen Inc. has a 1-year low of $138.00 and a 1-year high of $254.41.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings data 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 return on equity of 11.18% and a net margin of 8.32%. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the prior year, the company earned $5.47 EPS. 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. On average, equities analysts forecast that Biogen Inc. will post 12.29 earnings per share for the current fiscal year.

About Biogen

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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