Pallas Capital Advisors LLC Acquires Shares of 12,859 Biogen Inc. $BIIB

Key Points

• Pallas Capital Advisors acquired 12,859 Biogen shares worth approximately $2.78 million in the second quarter. Institutional investors and hedge funds collectively own 87.93% of Biogen’s stock.
• Analysts maintain a generally positive outlook, with Biogen receiving a “Moderate Buy” consensus rating and an average price target of $227.07; individual targets range from $190 to $300.
• Biogen reported quarterly earnings of $3.60 per share, beating the $2.94 consensus estimate, while revenue rose 3.4% year over year to $2.74 billion.

Pallas Capital Advisors LLC bought a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 12,859 shares of the biotechnology company's stock, valued at approximately $2,778,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BIIB. Reflection Asset Management acquired a new stake in Biogen during the fourth quarter worth approximately $25,000. WPG Advisers LLC boosted its holdings in shares of Biogen by 417.9% during the fourth quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company's stock worth $26,000 after acquiring an additional 117 shares during the period. Bell Investment Advisors Inc acquired a new position in shares of Biogen in the second quarter valued at approximately $27,000. First Horizon Corp bought a new position in shares of Biogen during the fourth quarter worth approximately $30,000. Finally, WFA of San Diego LLC bought a new position in shares of Biogen during the second quarter worth approximately $32,000. Institutional investors and hedge funds own 87.93% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BIIB shares. Sanford C. Bernstein dropped their target price on Biogen from $201.00 to $200.00 in a report on Thursday, April 30th. Canaccord Genuity Group raised their price target on shares of Biogen from $245.00 to $248.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Piper Sandler reiterated an "overweight" rating on shares of Biogen in a research note on Tuesday, July 14th. Oppenheimer reissued an "outperform" rating and issued a $300.00 price objective on shares of Biogen in a report on Wednesday, July 29th. Finally, Rothschild & Co Redburn increased their target price on shares of Biogen from $180.00 to $190.00 in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $227.07.

Biogen Trading Down 0.3%

Shares of BIIB stock opened at $209.15 on Tuesday. Biogen Inc. has a fifty-two week low of $131.52 and a fifty-two week high of $219.72. The stock's fifty day moving average price is $204.09 and its two-hundred day moving average price is $193.49. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 1.87. The company has a market cap of $30.90 billion, a PE ratio of 37.02, a P/E/G ratio of 6.48 and a beta of 0.17.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, topping analysts' consensus estimates of $2.94 by $0.66. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The company had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.46 billion. During the same quarter in the previous year, the firm earned $5.47 EPS. Biogen's revenue was up 3.4% on a year-over-year basis. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Equities analysts predict that Biogen Inc. will post 12.5 EPS 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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