Cinctive Capital Management LP cut its holdings in Biogen Inc. (NASDAQ:BIIB – Free Report) by 20.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,173 shares of the biotechnology company’s stock after selling 13,664 shares during the period. Cinctive Capital Management LP’s holdings in Biogen were worth $9,182,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in BIIB. Empowered Funds LLC raised its position in 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 acquiring an additional 2,777 shares during the period. Focus Partners Wealth raised its position in Biogen by 172.2% in the first quarter. Focus Partners Wealth now owns 10,173 shares of the biotechnology company’s stock worth $1,392,000 after acquiring an additional 6,436 shares during the period. Sivia Capital Partners LLC bought a new position in Biogen in the second quarter worth approximately $216,000. Cerity Partners LLC raised its position in Biogen by 15.3% in the second quarter. Cerity Partners LLC now owns 46,552 shares of the biotechnology company’s stock worth $5,847,000 after acquiring an additional 6,184 shares during the period. Finally, NewEdge Advisors LLC raised its position in Biogen by 13.4% in the second quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company’s stock worth $336,000 after acquiring an additional 316 shares during the period. 87.93% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts have weighed in on the stock. Rothschild & Co Redburn increased their price target on shares of Biogen from $180.00 to $190.00 in a research report on Thursday, April 30th. Truist Financial decreased their price target on shares of Biogen from $193.00 to $189.00 and set a “hold” rating on the stock in a research report on Monday, April 13th. Wedbush increased their price target on shares of Biogen from $191.00 to $196.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Piper Sandler reiterated an “overweight” rating and issued a $225.00 price target (up from $214.00) on shares of Biogen in a research report on Friday, May 15th. Finally, Argus upgraded shares of Biogen to a “hold” rating in a research report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $216.70.
Biogen Stock Performance
BIIB opened at $198.67 on Thursday. The stock has a market capitalization of $29.33 billion, a price-to-earnings ratio of 21.32 and a beta of 0.20. The company has a fifty day moving average of $190.05 and a 200 day moving average of $184.70. Biogen Inc. has a fifty-two week low of $121.05 and a fifty-two week high of $205.97. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.41 and a current ratio of 3.06.
Biogen (NASDAQ:BIIB – Get Free Report) last posted its earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share for the quarter, beating the consensus estimate of $2.95 by $0.62. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Biogen had a net margin of 13.81% and a return on equity of 12.83%. Biogen’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the company posted $3.02 earnings per share. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. As a group, sell-side analysts forecast that Biogen Inc. will post 13.89 earnings per share for the current fiscal year.
Biogen Company 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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