Ritholtz Wealth Management grew its holdings in Biogen Inc. (NASDAQ:BIIB – Free Report) by 23.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,943 shares of the biotechnology company’s stock after buying an additional 6,568 shares during the quarter. Ritholtz Wealth Management’s holdings in Biogen were worth $6,406,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in BIIB. Generali Investments Management Co LLC boosted its holdings in shares of Biogen by 408.2% during the 3rd quarter. Generali Investments Management Co LLC now owns 9,970 shares of the biotechnology company’s stock worth $1,397,000 after purchasing an additional 8,008 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Biogen by 1,793.8% in the fourth quarter. SG Americas Securities LLC now owns 183,829 shares of the biotechnology company’s stock valued at $32,352,000 after purchasing an additional 174,122 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of Biogen by 12.7% in the third quarter. TD Asset Management Inc now owns 161,195 shares of the biotechnology company’s stock valued at $22,580,000 after purchasing an additional 18,168 shares during the last quarter. K.J. Harrison & Partners Inc acquired a new stake in shares of Biogen in the third quarter valued at approximately $1,553,000. Finally, Farmers Trust Co. lifted its position in Biogen by 27.8% during the fourth quarter. Farmers Trust Co. now owns 33,185 shares of the biotechnology company’s stock worth $5,840,000 after buying an additional 7,214 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on BIIB shares. Wall Street Zen raised Biogen from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Oppenheimer lifted their price target on Biogen from $275.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Guggenheim boosted their price target on shares of Biogen from $246.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Canaccord Genuity Group upped their price objective on shares of Biogen from $230.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, April 1st. Finally, Sanford C. Bernstein cut their price objective on shares of Biogen from $201.00 to $200.00 in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and an average price target of $217.37.
Biogen Price Performance
BIIB stock opened at $199.59 on Thursday. The business has a fifty day moving average of $192.20 and a two-hundred day moving average of $185.31. The company has a quick ratio of 2.41, a current ratio of 3.06 and a debt-to-equity ratio of 0.34. The stock has a market cap of $29.47 billion, a price-to-earnings ratio of 21.42 and a beta of 0.20. Biogen Inc. has a 52-week low of $121.05 and a 52-week high of $205.97.
Biogen (NASDAQ:BIIB – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, beating the consensus estimate of $2.95 by $0.62. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.29 billion. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. As a group, research analysts anticipate that Biogen Inc. will post 13.95 earnings per share for the current 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.
Read More
- Five stocks we like better than Biogen
- Why KB Home Could Reward Patient Investors Later
- Meta’s Internal Turmoil: Morale Nears 20-Year Low at the Wrong Time
- Tesla’s New NHTSA Probe Lands at the Worst Possible Time
- Nano Nuclear’s AI Data Center Deal Puts the Stock Back in Focus
Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.
