Persistent Asset Partners Ltd bought a new position in shares of Biogen Inc. (NASDAQ:BIIB – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,874 shares of the biotechnology company’s stock, valued at approximately $506,000.
Several other institutional investors have also recently bought and sold shares of BIIB. WPG Advisers LLC lifted its stake 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 purchasing an additional 117 shares during the last quarter. Accredited Wealth Management LLC grew its stake in shares of Biogen by 1,233.3% during the third quarter. Accredited Wealth Management LLC now owns 200 shares of the biotechnology company’s stock worth $28,000 after buying an additional 185 shares during the last quarter. First Horizon Corp bought a new stake in shares of Biogen during the fourth quarter worth $30,000. WFA of San Diego LLC bought a new stake in shares of Biogen during the second quarter worth $32,000. Finally, Root Financial Partners LLC grew its stake in shares of Biogen by 198.4% during the fourth quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company’s stock worth $33,000 after buying an additional 123 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.
Analysts Set New Price Targets
BIIB has been the topic of a number of research reports. Citigroup boosted their target price on shares of Biogen from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Freedom Capital raised shares of Biogen from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 1st. Guggenheim boosted their target price on shares of Biogen from $246.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. HC Wainwright reaffirmed a “buy” rating on shares of Biogen in a research note on Thursday, May 14th. Finally, Morgan Stanley raised their price objective on shares of Biogen from $200.00 to $206.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Biogen presently has an average rating of “Moderate Buy” and an average price target of $216.70.
Biogen Stock Down 1.5%
Shares of NASDAQ BIIB opened at $195.61 on Wednesday. The company has a 50 day simple moving average of $189.52 and a 200 day simple moving average of $184.58. The firm has a market cap of $28.88 billion, a PE ratio of 20.99 and a beta of 0.20. Biogen Inc. has a 1 year low of $121.05 and a 1 year high of $205.97. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.06 and a quick ratio of 2.41.
Biogen (NASDAQ:BIIB – Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.95 by $0.62. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.29 billion. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business earned $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. On average, research analysts forecast that Biogen Inc. will post 14.18 EPS for the current year.
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.
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