Wealthfront Advisers LLC Acquires Shares of 16,529 Biogen Inc. $BIIB

Key Points

• Wealthfront Advisers acquired 16,529 Biogen shares worth approximately $3.57 million in the second quarter. Institutional investors collectively own 87.93% of Biogen’s stock, with other major firms including BlackRock, Norges Bank and Boston Partners also establishing or expanding positions.
• Analysts remain broadly positive on Biogen, with a consensus “Moderate Buy” rating and an average price target of $227.07. Ratings include 18 Buys, one Strong Buy, 13 Holds and one Sell.
• Biogen exceeded quarterly expectations, reporting $3.60 in adjusted EPS versus a $2.94 consensus and revenue of $2.74 billion versus $2.46 billion expected. Revenue rose 3.4% year over year, while the company guided to fiscal-year EPS of $12.00–$13.00.

Wealthfront Advisers LLC bought a new stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 16,529 shares of the biotechnology company's stock, valued at approximately $3,571,000.

A number of other hedge funds also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Biogen during the second quarter worth about $3,453,878,000. Norges Bank acquired a new position in shares of Biogen in the 4th quarter valued at approximately $464,408,000. Boston Partners bought a new stake in shares of Biogen during the 4th quarter worth approximately $302,815,000. Deutsche Bank AG acquired a new stake in shares of Biogen during the 2nd quarter worth approximately $193,165,000. Finally, Fred Alger Management LLC boosted its position in shares of Biogen by 39,074.8% during the 4th quarter. Fred Alger Management LLC now owns 798,774 shares of the biotechnology company's stock worth $140,576,000 after acquiring an additional 796,735 shares in the last quarter. Institutional investors own 87.93% of the company's stock.

Wall Street Analysts Forecast Growth

BIIB has been the subject of several research analyst reports. Wolfe Research upgraded shares of Biogen from a "peer perform" rating to an "outperform" rating and set a $300.00 price objective for the company in a research report on Thursday, August 13th. Bank of America decreased their price target on shares of Biogen from $217.00 to $215.00 and set a "neutral" rating on the stock in a report on Tuesday, July 21st. HC Wainwright increased their price objective on shares of Biogen from $237.00 to $251.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Rothschild & Co Redburn boosted their target price on shares of Biogen from $180.00 to $190.00 in a research note on Thursday, April 30th. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of Biogen in a report on Monday, July 13th. One equities research 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 given a Sell rating to the company. According to data from MarketBeat, Biogen currently has an average rating of "Moderate Buy" and a consensus target price of $227.07.

Biogen Stock Performance

Biogen stock opened at $214.35 on Friday. The business has a 50 day moving average of $205.20 and a 200-day moving average of $194.32. Biogen Inc. has a 1 year low of $131.52 and a 1 year high of $222.15. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.87 and a quick ratio of 1.26. The company has a market capitalization of $31.67 billion, a P/E ratio of 37.94, a P/E/G ratio of 6.90 and a beta of 0.17.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, topping the consensus estimate of $2.94 by $0.66. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the company earned $5.47 EPS. 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, equities research analysts predict that Biogen Inc. will post 12.39 earnings per share 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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