Sanctuary Advisors LLC Acquires New Position in Biogen Inc. $BIIB

Key Points

• Sanctuary Advisors LLC initiated a Biogen position in the second quarter, purchasing 5,838 shares valued at approximately $1.26 million. Institutional investors collectively own 87.93% of the company.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $227.79; recent target increases included Guggenheim’s move to $280 and Oppenheimer’s $300 target.
• Biogen reported quarterly EPS of $3.60, beating estimates of $2.94, while revenue of $2.74 billion exceeded expectations. The stock opened at $221.50, near its 12-month high of $222.85.

Sanctuary Advisors LLC bought a new position in Biogen Inc. (NASDAQ:BIIB - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,838 shares of the biotechnology company's stock, valued at approximately $1,261,000.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Biogen in the second quarter worth $3,453,878,000. Norges Bank purchased a new position in shares of Biogen during the 4th quarter valued at $464,408,000. Boston Partners bought a new position in Biogen in the 4th quarter worth $302,815,000. Deutsche Bank AG bought a new position in Biogen in the 2nd quarter worth $193,165,000. Finally, Fred Alger Management LLC increased its stake in Biogen by 39,074.8% in the 4th quarter. Fred Alger Management LLC now owns 798,774 shares of the biotechnology company's stock worth $140,576,000 after buying an additional 796,735 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Cantor Fitzgerald reissued an "overweight" rating on shares of Biogen in a report on Monday, June 22nd. Guggenheim increased their target price on Biogen from $260.00 to $280.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. Oppenheimer reissued an "outperform" rating and set a $300.00 target price on shares of Biogen in a research note on Wednesday, July 29th. Truist Financial raised Biogen from a "hold" rating to a "buy" rating and boosted their price target for the stock from $190.00 to $235.00 in a report on Monday, July 13th. Finally, TD Cowen upped their price target on Biogen from $215.00 to $225.00 and gave the stock a "buy" rating in a research note on Thursday, July 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $227.79.

Biogen Stock Performance

Biogen stock opened at $221.50 on Friday. The company's 50-day moving average price is $207.37 and its 200-day moving average price is $195.52. Biogen Inc. has a twelve month low of $131.52 and a twelve month high of $222.85. The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.39. The company has a market cap of $32.73 billion, a PE ratio of 39.20, a price-to-earnings-growth ratio of 6.89 and a beta of 0.17.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its 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 firm had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The business's revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, equities research analysts forecast that Biogen Inc. will post 12.39 EPS for the current fiscal year.

Biogen 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source