Biogen Inc. $BIIB Stock: Cohen Klingenstein LLC Grows Position

Key Points

• Cohen Klingenstein LLC increased its Biogen position by 843.9% in the third quarter, bringing its holdings to 37,756 shares valued at approximately $8.5 million. Institutional investors collectively own 87.93% of Biogen’s stock.
• Biogen reported quarterly earnings of $3.60 per share, exceeding analyst estimates of $2.94, while revenue reached $2.74 billion and rose 3.4% year over year.
• Analyst sentiment remains positive, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $236.04; JPMorgan recently upgraded Biogen to overweight with a $300 target.

Cohen Klingenstein LLC grew its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 843.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,756 shares of the biotechnology company's stock after purchasing an additional 33,756 shares during the period. Cohen Klingenstein LLC's holdings in Biogen were worth $8,528,000 as of its most recent SEC filing.

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

Biogen Trading Up 1.1%

NASDAQ BIIB opened at $235.35 on Friday. The company's fifty day simple moving average is $219.47 and its 200-day simple moving average is $203.65. Biogen Inc. has a 52 week low of $138.00 and a 52 week high of $240.99. 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 has a market cap of $34.77 billion, a P/E ratio of 16.67, a PEG ratio of 2.57 and a beta of 0.09.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, beating analysts' consensus estimates of $2.94 by $0.66. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The business's revenue was up 3.4% on a year-over-year basis. During the same period last year, the business earned $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Equities research analysts predict that Biogen Inc. will post 12.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wedbush raised their price objective on Biogen from $201.00 to $215.00 and gave the company a "neutral" rating in a research report on Thursday, July 30th. Mizuho boosted their price objective on Biogen from $221.00 to $241.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 4th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $220.00 target price on shares of Biogen in a research report on Monday. Needham & Company LLC upped their target price on Biogen from $255.00 to $256.00 and gave the stock a "buy" rating in a research report on Monday, June 29th. Finally, JPMorgan Chase & Co. upgraded Biogen from a "neutral" rating to an "overweight" rating and increased their target price for the company from $210.00 to $300.00 in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target 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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