Meeder Advisory Services Inc. bought a new position in Biogen Inc. (NASDAQ:BIIB - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,608 shares of the biotechnology company's stock, valued at approximately $996,000.
A number of other institutional investors also recently modified their holdings of BIIB. Empowered Funds LLC raised its stake in shares of Biogen by 64.9% during the 1st quarter. Empowered Funds LLC now owns 7,054 shares of the biotechnology company's stock worth $965,000 after purchasing an additional 2,777 shares in the last quarter. Focus Partners Wealth grew its stake in shares of Biogen by 172.2% in the 1st quarter. Focus Partners Wealth now owns 10,173 shares of the biotechnology company's stock valued at $1,392,000 after buying an additional 6,436 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Biogen in the second quarter worth approximately $216,000. Cerity Partners LLC raised its position in Biogen by 15.3% during the second quarter. Cerity Partners LLC now owns 46,552 shares of the biotechnology company's stock valued at $5,847,000 after acquiring an additional 6,184 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in Biogen by 13.4% during the second quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company's stock valued at $336,000 after acquiring an additional 316 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company's stock.
Analysts Set New Price Targets
BIIB has been the subject of several analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Biogen in a research note on Monday, June 22nd. Citigroup increased their target price 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. Morgan Stanley raised their target price on Biogen from $222.00 to $231.00 and gave the company an "equal weight" rating in a report on Thursday, July 30th. Guggenheim boosted their price target on Biogen from $260.00 to $280.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. Finally, Weiss Ratings downgraded Biogen from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, August 12th. One research 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 given a Sell rating to the stock. Based on data from MarketBeat, Biogen presently has a consensus rating of "Moderate Buy" and an average target price of $227.07.
View Our Latest Stock Report on Biogen
Biogen Stock Up 4.2%
BIIB stock opened at $221.56 on Thursday. Biogen Inc. has a twelve month low of $131.52 and a twelve month high of $222.15. The company has a market cap of $32.74 billion, a PE ratio of 39.21, a price-to-earnings-growth ratio of 6.62 and a beta of 0.17. The business's 50-day simple moving average is $204.91 and its 200 day simple moving average is $194.08. 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 (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, topping analysts' consensus estimates of $2.94 by $0.66. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the firm earned $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, research analysts anticipate that Biogen Inc. will post 12.39 earnings per share for the current year.
Biogen Profile
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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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