Polymer Capital Management HK LTD Invests $8.35 Million in Biogen Inc. $BIIB

Key Points

• Polymer Capital Management initiated an $8.35 million Biogen stake, purchasing 38,665 shares in the second quarter. Institutional investors collectively own 87.93% of BIIB.
• Analysts maintain a generally positive outlook, with Biogen receiving a consensus “Moderate Buy” rating and an average price target of $227.07; recent upgrades included Canaccord Genuity and Wolfe Research.
• Biogen reported quarterly adjusted earnings of $3.60 per share and revenue of $2.74 billion, exceeding analyst expectations, while revenue rose 3.4% year over year.

Polymer Capital Management HK LTD bought a new stake in Biogen Inc. (NASDAQ:BIIB - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 38,665 shares of the biotechnology company's stock, valued at approximately $8,354,000.

Several other hedge funds also recently bought and sold shares of BIIB. Empowered Funds LLC increased 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 valued at $965,000 after acquiring an additional 2,777 shares during the last quarter. Focus Partners Wealth grew its holdings in Biogen by 172.2% in the first quarter. Focus Partners Wealth now owns 10,173 shares of the biotechnology company's stock valued at $1,392,000 after purchasing an additional 6,436 shares during the period. Sivia Capital Partners LLC purchased a new stake in Biogen in the second quarter valued at approximately $216,000. Cerity Partners LLC boosted its holdings in shares of Biogen by 15.3% in the 2nd quarter. Cerity Partners LLC now owns 46,552 shares of the biotechnology company's stock valued at $5,847,000 after purchasing an additional 6,184 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in shares of Biogen by 13.4% during the 2nd quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company's stock valued at $336,000 after buying an additional 316 shares during the period. Hedge funds and other institutional investors own 87.93% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BIIB shares. Weiss Ratings downgraded shares of Biogen from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, August 12th. Zacks Research raised shares of Biogen from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 28th. Canaccord Genuity Group increased their price target on Biogen from $245.00 to $248.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Wolfe Research upgraded Biogen from a "peer perform" rating to an "outperform" rating and set a $300.00 price objective on the stock in a research note on Thursday, August 13th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of Biogen in a research report on Tuesday, July 14th. One 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $227.07.

Biogen Stock Performance

NASDAQ:BIIB opened at $216.78 on Monday. The company has a market cap of $32.03 billion, a PE ratio of 38.37, a P/E/G ratio of 6.75 and a beta of 0.17. The business's 50 day moving average is $205.53 and its two-hundred day moving average is $194.58. 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.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, topping analysts' consensus estimates of $2.94 by $0.66. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The company had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.46 billion. During the same period in the prior year, the company earned $5.47 earnings per share. The firm's revenue was up 3.4% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, analysts predict that Biogen Inc. will post 12.39 EPS for the current 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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