Orbimed Advisors LLC Makes New $11.29 Million Investment in Biogen Inc. $BIIB

Key Points

• Orbimed Advisors acquired 61,600 Biogen shares during the first quarter, representing a new investment valued at approximately $11.29 million. Institutional investors collectively own 87.93% of BIIB.
• Biogen reported quarterly earnings of $3.57 per share, surpassing estimates of $2.95, while revenue reached $2.48 billion and increased 1.9% year over year.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $220.57, compared with a recent price of $202.19.

Orbimed Advisors LLC purchased a new stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 61,600 shares of the biotechnology company's stock, valued at approximately $11,293,000.

A number of other hedge funds also recently added to or reduced their stakes in BIIB. Reflection Asset Management purchased a new stake in shares of Biogen in the 4th quarter worth approximately $25,000. WPG Advisers LLC boosted its position in Biogen by 417.9% during the 4th quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company's stock valued at $26,000 after acquiring an additional 117 shares in the last quarter. First Horizon Corp purchased a new position in shares of Biogen in the 4th quarter valued at $30,000. WFA of San Diego LLC bought a new position in shares of Biogen in the 2nd quarter worth $32,000. Finally, Root Financial Partners LLC lifted 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 worth $33,000 after purchasing an additional 123 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Price Performance

Shares of BIIB stock opened at $202.19 on Monday. Biogen Inc. has a fifty-two week low of $124.56 and a fifty-two week high of $219.72. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.41 and a current ratio of 3.06. The firm has a market capitalization of $29.85 billion, a price-to-earnings ratio of 21.69 and a beta of 0.16. The stock's 50-day simple moving average is $199.78 and its 200-day simple moving average is $189.95.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, beating the consensus estimate of $2.95 by $0.62. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.29 billion. Biogen had a net margin of 13.81% and a return on equity of 12.83%. Biogen's revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm posted $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. As a group, equities analysts forecast that Biogen Inc. will post 11.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on BIIB shares. Guggenheim boosted their target price on shares of Biogen from $260.00 to $280.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. Sanford C. Bernstein reduced their price objective on shares of Biogen from $201.00 to $200.00 in a research note on Thursday, April 30th. Truist Financial raised shares of Biogen from a "hold" rating to a "buy" rating and increased their target price for the company from $190.00 to $235.00 in a research report on Monday, July 13th. HSBC restated a "reduce" rating and issued a $157.00 target price on shares of Biogen in a research note on Monday, July 6th. Finally, Citigroup lifted their price target on shares of Biogen from $190.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $220.57.

About Biogen

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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