Tidal Investments LLC Has $13.79 Million Holdings in Biogen Inc. $BIIB

Key Points

• Tidal Investments increased its Biogen position by 9% in the second quarter, ending with 63,842 shares valued at approximately $13.79 million. Institutional investors collectively own 87.93% of Biogen’s stock.
• Analysts remain broadly positive, with Biogen receiving a “Moderate Buy” consensus rating and an average price target of $230.14. Several firms recently raised their targets, including Royal Bank of Canada to $260.
• Biogen reported quarterly EPS of $3.60, exceeding the $2.94 consensus estimate, while revenue reached $2.74 billion and rose 3.4% year over year. Shares opened at $217.15, near the company’s 12-month high of $225.80.

Tidal Investments LLC lifted its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 9.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 63,842 shares of the biotechnology company's stock after acquiring an additional 5,256 shares during the quarter. Tidal Investments LLC's holdings in Biogen were worth $13,794,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its holdings in shares of Biogen by 64.9% in the first quarter. Empowered Funds LLC now owns 7,054 shares of the biotechnology company's stock valued at $965,000 after purchasing an additional 2,777 shares in the last quarter. Focus Partners Wealth grew its holdings in shares of Biogen by 172.2% during the first 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 during the second quarter valued at $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 buying an additional 6,184 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in Biogen by 13.4% in the 2nd quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company's stock worth $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.

Analyst Ratings Changes

A number of brokerages have commented on BIIB. TD Cowen raised their price objective on Biogen from $215.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Zacks Research raised shares of Biogen from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 28th. HC Wainwright raised their price target on shares of Biogen from $237.00 to $251.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Weiss Ratings downgraded shares of Biogen from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, August 12th. Finally, Royal Bank Of Canada upped their price objective on shares of Biogen from $240.00 to $260.00 and gave the company an "outperform" rating in a research note on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $230.14.

Biogen Stock Up 0.8%

Shares of Biogen stock opened at $217.15 on Friday. Biogen Inc. has a 12-month low of $135.39 and a 12-month high of $225.80. 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 stock has a 50 day moving average price of $209.57 and a two-hundred day moving average price of $197.36. The stock has a market capitalization of $32.08 billion, a P/E ratio of 38.43, a PEG ratio of 2.38 and a beta of 0.17.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, beating 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 analyst estimates of $2.46 billion. During the same quarter last year, the firm posted $5.47 earnings per share. The company's quarterly 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. Equities analysts expect that Biogen Inc. will post 12.39 earnings per share for the current year.

About Biogen

Biogen Inc is a biotechnology company focused on discovering, developing and commercializing therapies for neurological and neurodegenerative diseases. Founded in 1978, the company is headquartered in Cambridge, Massachusetts, and serves patients and healthcare providers in markets around the world.

Biogen's portfolio includes treatments for multiple sclerosis, including Tecfidera, Vumerity, Tysabri, Avonex and Plegridy, as well as Spinraza for spinal muscular atrophy, developed in collaboration with Ionis Pharmaceuticals.

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