Cinctive Capital Management LP Raises Stake in Biogen Inc. $BIIB

Key Points

• Cinctive Capital Management LP raised its stake in Biogen by 344.8% in Q3 to 65,837 shares (adding 51,035 shares), valued at about $9.22 million.
• Biogen reported a quarterly $1.99 EPS (vs. $1.61 est.) and $2.28B revenue, set FY2026 guidance of 15.25–16.25 EPS, and holds a consensus “Hold” rating from analysts with an average target of $205.04.
• Several other institutions (e.g., BBVA, CalPERS, AllianceBernstein) also increased positions, leaving roughly 87.9% of shares owned by hedge funds and institutional investors while insiders own just 0.18%.

Cinctive Capital Management LP grew its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 344.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,837 shares of the biotechnology company's stock after purchasing an additional 51,035 shares during the quarter. Cinctive Capital Management LP's holdings in Biogen were worth $9,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of BIIB. Banco Bilbao Vizcaya Argentaria S.A. raised its position in shares of Biogen by 20.7% during the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 138,654 shares of the biotechnology company's stock valued at $19,404,000 after purchasing an additional 23,782 shares during the period. California Public Employees Retirement System boosted its holdings in Biogen by 1.4% in the 3rd quarter. California Public Employees Retirement System now owns 343,786 shares of the biotechnology company's stock worth $48,158,000 after buying an additional 4,736 shares during the period. Bank of Nova Scotia boosted its holdings in Biogen by 49.1% in the 3rd quarter. Bank of Nova Scotia now owns 24,351 shares of the biotechnology company's stock worth $3,411,000 after buying an additional 8,017 shares during the period. Alliancebernstein L.P. increased its stake in Biogen by 2.7% in the 3rd quarter. Alliancebernstein L.P. now owns 237,275 shares of the biotechnology company's stock worth $33,237,000 after buying an additional 6,167 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Biogen by 15.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 145,409 shares of the biotechnology company's stock worth $20,370,000 after buying an additional 19,353 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BIIB has been the topic of several research analyst reports. Sanford C. Bernstein restated a "market perform" rating on shares of Biogen in a research report on Monday, February 9th. Canaccord Genuity Group increased their target price on Biogen from $220.00 to $230.00 and gave the stock a "buy" rating in a research report on Monday, February 9th. TD Cowen lifted their target price on Biogen from $175.00 to $215.00 and gave the company a "buy" rating in a research note on Monday, February 9th. Truist Financial boosted their price target on Biogen from $190.00 to $193.00 and gave the stock a "hold" rating in a report on Monday, February 9th. Finally, Morgan Stanley set a $190.00 price objective on shares of Biogen in a report on Sunday, February 8th. Twelve research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $205.04.

Biogen Trading Down 1.8%

Shares of Biogen stock opened at $181.55 on Friday. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $202.41. The company has a quick ratio of 2.03, a current ratio of 2.68 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average price of $184.10 and a 200-day moving average price of $166.97. The firm has a market cap of $26.64 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 1.44 and a beta of 0.15.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its earnings results on Friday, February 6th. The biotechnology company reported $1.99 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.38. The company had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.21 billion. Biogen had a return on equity of 12.64% and a net margin of 13.07%.The firm's revenue for the quarter was down 7.2% on a year-over-year basis. During the same period in the previous year, the business earned $3.44 earnings per share. Biogen has set its FY 2026 guidance at 15.250-16.250 EPS. Equities research analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Activity

In other news, insider Priya Singhal sold 2,660 shares of the company's stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $199.83, for a total transaction of $531,547.80. Following the sale, the insider directly owned 8,043 shares of the company's stock, valued at $1,607,232.69. This represents a 24.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by company insiders.

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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