Corient Private Wealth LP acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 163,315 shares of the biotechnology company's stock, valued at approximately $10,556,000. Corient Private Wealth LP owned 0.11% of Biogen at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Reflection Asset Management acquired a new position in Biogen during the fourth quarter worth approximately $25,000. Bell Investment Advisors Inc acquired a new position in shares of Biogen in the 2nd quarter valued at $27,000. WFA of San Diego LLC acquired a new position in shares of Biogen in the 2nd quarter valued at $32,000. Root Financial Partners LLC grew its stake in shares of Biogen by 198.4% during the 4th quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company's stock valued at $33,000 after buying an additional 123 shares during the period. Finally, MV Capital Management Inc. purchased a new stake in shares of Biogen during the 4th quarter valued at $34,000. 87.93% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on BIIB. Truist Financial raised Biogen from a "hold" rating to a "buy" rating and increased their target price for the stock from $190.00 to $235.00 in a research report on Monday, July 13th. Bank of America lowered their price target on Biogen from $217.00 to $215.00 and set a "neutral" rating for the company in a research report on Tuesday, July 21st. Citigroup raised their price objective on Biogen from $200.00 to $215.00 and gave the stock a "neutral" rating in a report on Monday, August 3rd. Oppenheimer reaffirmed an "outperform" rating and issued a $300.00 price objective on shares of Biogen in a research note on Wednesday, July 29th. Finally, Weiss Ratings cut Biogen from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $227.79.
Check Out Our Latest Research Report on BIIB
Biogen Stock Performance
NASDAQ:BIIB opened at $218.50 on Friday. The firm's fifty day simple moving average is $207.81 and its 200 day simple moving average is $195.68. The company has a current ratio of 1.87, a quick ratio of 1.26 and a debt-to-equity ratio of 0.39. Biogen Inc. has a twelve month low of $131.52 and a twelve month high of $222.85. The firm has a market capitalization of $32.28 billion, a price-to-earnings ratio of 38.67, a PEG ratio of 6.81 and a beta of 0.17.
Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (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 firm earned $5.47 EPS. The firm'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. As a group, equities research analysts expect that Biogen Inc. will post 12.39 earnings per share for the current fiscal year.
About Biogen
(
Free Report)
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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