Biogen Inc. $BIIB Stock Holdings Raised by Bank of America Corp DE

Key Points

• Bank of America increased its Biogen stake by 2.4% in the first quarter, adding 27,524 shares for a total of 1.16 million shares valued at approximately $212 million. Institutional investors and hedge funds collectively own 87.93% of BIIB.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $224.61. Recent target increases range from $231 to $280.
• Biogen reported quarterly earnings of $3.60 per share, beating estimates of $2.94, while revenue rose 3.4% year over year to $2.74 billion. Shares opened at $208.45, near the company’s 52-week high of $219.72.

Bank of America Corp DE grew its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 2.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,156,369 shares of the biotechnology company's stock after purchasing an additional 27,524 shares during the quarter. Bank of America Corp DE owned approximately 0.78% of Biogen worth $211,997,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of BIIB. Empowered Funds LLC raised its holdings in shares of Biogen by 64.9% during the first quarter. Empowered Funds LLC now owns 7,054 shares of the biotechnology company's stock worth $965,000 after purchasing an additional 2,777 shares during the period. Focus Partners Wealth grew its holdings in shares of Biogen by 172.2% during the first quarter. Focus Partners Wealth now owns 10,173 shares of the biotechnology company's stock valued at $1,392,000 after purchasing an additional 6,436 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Biogen during the 2nd quarter worth approximately $216,000. Cerity Partners LLC lifted its holdings in shares of Biogen by 15.3% in the 2nd quarter. Cerity Partners LLC now owns 46,552 shares of the biotechnology company's stock worth $5,847,000 after purchasing an additional 6,184 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its position in Biogen by 13.4% during the 2nd quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company's stock valued at $336,000 after purchasing an additional 316 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on BIIB shares. HC Wainwright increased their target price on Biogen from $237.00 to $251.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Jefferies Financial Group restated a "buy" rating on shares of Biogen in a research report on Monday, July 13th. Morgan Stanley increased their price objective on shares of Biogen from $222.00 to $231.00 and gave the stock an "equal weight" rating in a report on Thursday, July 30th. UBS Group lifted their price objective on shares of Biogen from $225.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Finally, Guggenheim boosted their target price on shares of Biogen from $260.00 to $280.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $224.61.

Biogen Price Performance

Shares of BIIB opened at $208.45 on Wednesday. Biogen Inc. has a one year low of $127.00 and a one year high of $219.72. The stock's fifty day moving average is $201.70 and its 200-day moving average is $191.08. 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 firm has a market capitalization of $30.80 billion, a price-to-earnings ratio of 36.89, a price-to-earnings-growth ratio of 6.18 and a beta of 0.17.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, topping the consensus estimate of $2.94 by $0.66. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the prior year, the company posted $5.47 earnings per share. The company's quarterly 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. Equities analysts anticipate that Biogen Inc. will post 12.6 EPS for the current year.

About Biogen

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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