Biogen Inc. $BIIB Stock: Evergreen Capital Management LLC Boosts Stake

Key Points

• Evergreen Capital Management increased its Biogen stake by 647.5% in the third quarter, holding 22,447 shares valued at approximately $5.07 million. Institutional investors collectively own 87.93% of BIIB.
• Analyst sentiment is broadly positive: Biogen has a consensus “Moderate Buy” rating and an average price target of $241.89, with several firms recently raising targets and ratings.
• Biogen reported quarterly EPS of $3.60, exceeding estimates of $2.94, while revenue reached $2.74 billion, up 3.4% year over year and above consensus expectations.

Evergreen Capital Management LLC grew its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 647.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,447 shares of the biotechnology company's stock after purchasing an additional 19,444 shares during the period. Evergreen Capital Management LLC's holdings in Biogen were worth $5,070,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BIIB. BlackRock Inc. purchased a new stake in shares of Biogen during the second quarter valued at $3,453,878,000. Orbimed Advisors LLC bought a new position in shares of Biogen in the first quarter worth about $11,293,000. Tidal Investments LLC grew its holdings in shares of Biogen by 9.0% in the second quarter. Tidal Investments LLC now owns 63,842 shares of the biotechnology company's stock worth $13,794,000 after purchasing an additional 5,256 shares during the last quarter. Saudi Central Bank increased its stake in Biogen by 89.7% in the 2nd quarter. Saudi Central Bank now owns 10,273 shares of the biotechnology company's stock worth $2,220,000 after buying an additional 4,858 shares during the period. Finally, Nippon Life Global Investors Americas Inc. purchased a new position in Biogen in the 2nd quarter worth about $29,648,000. Hedge funds and other institutional investors own 87.93% of the company's stock.

Analyst Ratings Changes

BIIB has been the topic of a number of research analyst reports. Canaccord Genuity Group upped their target price on shares of Biogen from $245.00 to $248.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. raised shares of Biogen from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $210.00 to $300.00 in a research report on Monday, October 12th. Zacks Research raised shares of Biogen from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 28th. Wells Fargo & Company boosted their price target on Biogen from $250.00 to $310.00 and gave the company an "overweight" rating in a report on Tuesday, October 20th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Biogen in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $241.89.

Biogen Stock Performance

BIIB opened at $250.69 on Monday. Biogen Inc. has a 52-week low of $138.00 and a 52-week high of $254.41. 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 company has a market cap of $37.04 billion, a P/E ratio of 44.37, a price-to-earnings-growth ratio of 2.99 and a beta of 0.09. The firm's 50-day moving average price is $223.60 and its 200-day moving average price is $206.28.

Biogen (NASDAQ:BIIB - Get Free Report) last released 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. The business had revenue of $2.74 billion for 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 revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, equities analysts anticipate that Biogen Inc. will post 12.29 EPS for the current fiscal 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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