Deutsche Bank AG bought a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 894,035 shares of the biotechnology company's stock, valued at approximately $193,165,000. Deutsche Bank AG owned 0.61% of Biogen at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in BIIB. Bell Investment Advisors Inc purchased a new stake in Biogen in the 2nd quarter worth $27,000. Reflection Asset Management purchased a new position in Biogen during the fourth quarter valued at $25,000. WPG Advisers LLC lifted its holdings in Biogen by 417.9% during the fourth quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company's stock valued at $26,000 after purchasing an additional 117 shares in the last quarter. First Horizon Corp acquired a new stake in shares of Biogen in the fourth quarter valued at about $30,000. Finally, Root Financial Partners LLC grew its position in shares of Biogen by 198.4% in the fourth quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company's stock valued at $33,000 after purchasing an additional 123 shares during the period. Hedge funds and other institutional investors own 87.93% of the company's stock.
Biogen Stock Performance
NASDAQ:BIIB opened at $212.55 on Wednesday. The company has a market cap of $31.40 billion, a P/E ratio of 37.62, a P/E/G ratio of 6.48 and a beta of 0.17. Biogen Inc. has a twelve month low of $131.52 and a twelve month high of $219.72. The company's 50-day moving average price is $204.36 and its 200-day moving average price is $193.76. 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 (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. Biogen's revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, sell-side analysts forecast that Biogen Inc. will post 12.39 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several research analysts recently weighed in on BIIB shares. Wolfe Research upgraded shares of Biogen from a "peer perform" rating to an "outperform" rating and set a $300.00 price target for the company in a research report on Thursday, August 13th. Piper Sandler reiterated an "overweight" rating on shares of Biogen in a report on Tuesday, July 14th. Rothschild & Co Redburn boosted their price objective on Biogen from $180.00 to $190.00 in a research note on Thursday, April 30th. HC Wainwright increased their target price on Biogen from $237.00 to $251.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Finally, Oppenheimer restated an "outperform" rating and issued a $300.00 target price on shares of Biogen in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Biogen currently has an average rating of "Moderate Buy" and an average target price of $227.07.
Check Out Our Latest Research Report on BIIB
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.
Further Reading
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