Great Lakes Advisors LLC Takes Position in Biogen Inc. $BIIB

Key Points

• Great Lakes Advisors initiated a Biogen position by purchasing 9,477 shares worth approximately $2.05 million in the second quarter. Institutional investors collectively own 87.93% of BIIB.
• Analyst sentiment remains generally positive, with Biogen carrying a “Moderate Buy” consensus rating and an average price target of $227.07, despite some recent downgrades to “Hold.”
• Biogen reported quarterly adjusted earnings of $3.60 per share, exceeding estimates of $2.94, while revenue of $2.74 billion also surpassed forecasts. The stock opened at $216.78, near its 52-week high of $222.15.

Great Lakes Advisors LLC bought a new stake in Biogen Inc. (NASDAQ:BIIB - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,477 shares of the biotechnology company's stock, valued at approximately $2,048,000.

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

Wall Street Analysts Forecast Growth

BIIB has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Biogen from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Canaccord Genuity Group boosted their price objective on shares of Biogen from $245.00 to $248.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. The Goldman Sachs Group upped their price objective on shares of Biogen from $231.00 to $238.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Zacks Research upgraded shares of Biogen from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 28th. Finally, Royal Bank Of Canada reduced their price target on Biogen from $242.00 to $240.00 and set an "outperform" rating on the stock in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Biogen currently has an average rating of "Moderate Buy" and an average price target of $227.07.

Biogen Trading Up 1.1%

BIIB opened at $216.78 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.39. Biogen Inc. has a 52 week low of $131.52 and a 52 week high of $222.15. The stock has a market cap of $32.03 billion, a PE ratio of 38.37, a PEG ratio of 6.68 and a beta of 0.17. The business has a 50 day moving average of $205.53 and a 200-day moving average of $194.48.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its earnings results 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 return on equity of 11.18% and a net margin of 8.32%.The company's revenue was up 3.4% compared to the same quarter last year. During the same period last year, the business posted $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Equities research analysts predict that Biogen Inc. will post 12.39 earnings per share for the current fiscal year.

Biogen Company Profile

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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