IFP Advisors Inc Purchases 14,445 Shares of Biogen Inc. $BIIB

Key Points

• IFP Advisors increased its Biogen position by 976.7% in the third quarter, purchasing 14,445 additional shares and bringing its total holdings to 15,924 shares valued at approximately $3.6 million.
• Institutional ownership remains high, with hedge funds and other institutions holding 87.93% of Biogen’s outstanding shares; major investors including BlackRock and Primecap established sizable positions.
• Biogen reported quarterly EPS of $3.60, exceeding estimates of $2.94, while revenue reached $2.74 billion. Analysts maintained a “Moderate Buy” consensus rating with an average price target of $236.04.

IFP Advisors Inc increased its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 976.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,924 shares of the biotechnology company's stock after purchasing an additional 14,445 shares during the quarter. IFP Advisors Inc's holdings in Biogen were worth $3,597,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Biogen in the second quarter valued at approximately $3,453,878,000. Primecap Management Co. CA bought a new position in shares of Biogen during the 2nd quarter worth approximately $3,274,304,000. Wellington Management Group LLP increased its holdings in shares of Biogen by 5.3% during the 2nd quarter. Wellington Management Group LLP now owns 3,117,469 shares of the biotechnology company's stock worth $673,560,000 after acquiring an additional 155,828 shares during the last quarter. Amundi increased its holdings in shares of Biogen by 91.8% during the 2nd quarter. Amundi now owns 1,516,831 shares of the biotechnology company's stock worth $327,727,000 after acquiring an additional 726,004 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in shares of Biogen during the 2nd quarter worth approximately $322,640,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Up 0.4%

NASDAQ BIIB opened at $233.48 on Tuesday. 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 1-year low of $138.00 and a 1-year high of $240.99. The company has a 50 day moving average of $220.49 and a 200-day moving average of $204.32. The company has a market cap of $34.50 billion, a price-to-earnings ratio of 41.32, a PEG ratio of 2.58 and a beta of 0.09.

Biogen (NASDAQ:BIIB - Get Free Report) last issued 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. The business had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.46 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%. The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, equities research analysts expect that Biogen Inc. will post 12.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BIIB shares. Oppenheimer restated an "outperform" rating and issued a $300.00 price target on shares of Biogen in a research note on Wednesday, July 29th. UBS Group lifted their price objective on shares of Biogen from $240.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, October 9th. Citigroup lifted their price objective on shares of Biogen from $200.00 to $215.00 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. BMO Capital Markets reiterated a "market perform" rating and issued a $220.00 price objective on shares of Biogen in a report on Monday, October 12th. Finally, Barclays increased their price objective on shares of Biogen from $185.00 to $200.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $236.04.

Biogen Company Profile

Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for neurological and neurodegenerative diseases. Its areas of focus include multiple sclerosis, Alzheimer's disease, spinal muscular atrophy, amyotrophic lateral sclerosis and other serious medical conditions.

The company's portfolio includes multiple sclerosis treatments such as Tecfidera, Vumerity, Tysabri, Plegridy and Avonex, as well as Spinraza for spinal muscular atrophy. Biogen also markets Leqembi, an Alzheimer's disease treatment developed in collaboration with Eisai, and works with partners to advance additional therapies and biosimilars.

Biogen was founded in 1978 and is headquartered in Cambridge, Massachusetts.

Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc. (NASDAQ:BIIB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.