Legal & General Group Plc trimmed its position in Biogen Inc. (NASDAQ:BIIB – Free Report) by 8.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,459,597 shares of the biotechnology company’s stock after selling 133,802 shares during the period. Legal & General Group Plc’s holdings in Biogen were worth $256,874,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. WPG Advisers LLC boosted its position in Biogen by 417.9% in the 4th quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock valued at $26,000 after buying an additional 117 shares during the last quarter. First Horizon Corp bought a new position in Biogen in the 4th quarter valued at $30,000. GoalVest Advisory LLC bought a new position in Biogen in the 4th quarter valued at $35,000. Accredited Wealth Management LLC boosted its position in Biogen by 1,233.3% in the 3rd quarter. Accredited Wealth Management LLC now owns 200 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 185 shares during the last quarter. Finally, Elevation Wealth Partners LLC boosted its position in Biogen by 412.8% in the 4th quarter. Elevation Wealth Partners LLC now owns 200 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 161 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts have commented on the company. BMO Capital Markets increased their price objective on Biogen from $165.00 to $196.00 and gave the company a “market perform” rating in a research report on Friday, February 6th. Mizuho increased their price objective on Biogen from $207.00 to $236.00 and gave the company an “outperform” rating in a research report on Tuesday, February 10th. Sanford C. Bernstein cut their price target on Biogen from $201.00 to $200.00 in a research note on Thursday, April 30th. TD Cowen increased their price target on Biogen from $175.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Finally, Guggenheim increased their price target on Biogen from $246.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Biogen currently has an average rating of “Moderate Buy” and an average target price of $215.62.
Biogen Stock Performance
BIIB stock opened at $193.08 on Wednesday. The business’s fifty day moving average is $185.89 and its 200-day moving average is $181.55. 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 company has a market cap of $28.51 billion, a P/E ratio of 20.72, a price-to-earnings-growth ratio of 1.71 and a beta of 0.19. Biogen Inc. has a twelve month low of $121.05 and a twelve month high of $205.97.
Biogen (NASDAQ:BIIB – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.95 by $0.62. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.29 billion. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Equities research analysts forecast that Biogen Inc. will post 14.18 EPS 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.
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