Rakuten Investment Management Inc. Buys Shares of 198,572 Biogen Inc. $BIIB

Rakuten Investment Management Inc. purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 198,572 shares of the biotechnology company’s stock, valued at approximately $27,816,000. Rakuten Investment Management Inc. owned about 0.14% of Biogen as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of BIIB. Empowered Funds LLC grew 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 worth $965,000 after purchasing an additional 2,777 shares during the last quarter. Focus Partners Wealth boosted its position in Biogen by 172.2% in the 1st 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 during the period. Sivia Capital Partners LLC purchased a new stake in Biogen in the 2nd quarter valued at about $216,000. Wealth Enhancement Advisory Services LLC grew its stake in Biogen by 46.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 27,867 shares of the biotechnology company’s stock worth $3,703,000 after acquiring an additional 8,818 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Biogen by 118.0% during the second quarter. UMB Bank n.a. now owns 1,029 shares of the biotechnology company’s stock valued at $129,000 after acquiring an additional 557 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Biogen Stock Up 0.6%

Biogen stock opened at $165.38 on Wednesday. The business has a fifty day moving average price of $175.32 and a 200-day moving average price of $152.60. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $190.20. The stock has a market capitalization of $24.26 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 1.37 and a beta of 0.13. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.72 and a quick ratio of 2.04.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share for the quarter, topping the consensus estimate of $3.89 by $0.92. Biogen had a return on equity of 14.13% and a net margin of 15.98%.The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter last year, the company earned $4.08 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. Equities research analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on BIIB shares. Hsbc Global Res downgraded Biogen from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 10th. Stifel Nicolaus raised Biogen from a “hold” rating to a “buy” rating and increased their price target for the stock from $144.00 to $202.00 in a research report on Thursday, November 6th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $225.00 price objective on shares of Biogen in a research note on Thursday, January 8th. Wall Street Zen downgraded shares of Biogen from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Finally, Truist Financial increased their price objective on shares of Biogen from $142.00 to $190.00 and gave the company a “hold” rating in a research note on Thursday, January 8th. Ten research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $190.50.

About Biogen

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.