Corient Private Wealth LLC Acquires 6,287 Shares of Biogen Inc. $BIIB

Corient Private Wealth LLC raised its holdings in shares of Biogen Inc. (NASDAQ:BIIB – Free Report) by 18.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 41,149 shares of the biotechnology company’s stock after acquiring an additional 6,287 shares during the period. Corient Private Wealth LLC’s holdings in Biogen were worth $7,245,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BIIB. Norges Bank purchased a new position in shares of Biogen in the fourth quarter worth about $464,408,000. Boston Partners purchased a new stake in Biogen during the 4th quarter valued at about $302,815,000. Fred Alger Management LLC grew its position in 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 during the last quarter. Employees Provident Fund Board bought a new position in Biogen during the 4th quarter worth approximately $123,931,000. Finally, Orion Porfolio Solutions LLC increased its stake in Biogen by 6,828.4% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company’s stock worth $64,965,000 after purchasing an additional 509,809 shares during the period. 87.93% of the stock is owned by institutional investors.

Get Biogen alerts:

Biogen Stock Performance

Shares of BIIB stock opened at $201.96 on Friday. The company’s fifty day moving average price is $192.66 and its 200-day moving average price is $185.46. The stock has a market cap of $29.82 billion, a PE ratio of 21.67 and a beta of 0.20. The company has a current ratio of 3.06, a quick ratio of 2.41 and a debt-to-equity ratio of 0.34. Biogen Inc. has a 12 month low of $121.05 and a 12 month high of $206.67.

Biogen (NASDAQ:BIIB – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.62. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same period last year, the business earned $3.02 EPS. Biogen’s quarterly revenue was up 1.9% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. On average, equities analysts expect that Biogen Inc. will post 13.95 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Truist Financial lowered their price objective on Biogen from $193.00 to $189.00 and set a “hold” rating for the company in a research report on Monday, April 13th. Royal Bank Of Canada raised their target price on shares of Biogen from $222.00 to $227.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biogen in a research note on Monday. Needham & Company LLC reiterated a “buy” rating on shares of Biogen in a report on Thursday, June 18th. Finally, Wedbush increased their price target on shares of Biogen from $191.00 to $196.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $217.37.

Read Our Latest Stock Analysis on BIIB

Biogen Company Profile

(Free Report)

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.

Featured Articles

• Five stocks we like better than Biogen
• MDA Space Targets US Defense Market With $620M Acquisition
• Carnival’s Second Quarter: Is the Stock Still Complicated?
• Domino’s Stock Slides to 52-Week Low as Investors Digest CEO Change
• Microsoft Solves AI’s Biggest Bottleneck With Chevron Deal

Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc. (NASDAQ:BIIB – Free Report).

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.