Parallax Volatility Advisers L.P. acquired a new stake in shares of Biogen Inc. (NASDAQ:BIIB – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,291 shares of the biotechnology company’s stock, valued at approximately $495,000.
Other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC increased its stake in shares of Biogen by 64.9% during the first quarter. Empowered Funds LLC now owns 7,054 shares of the biotechnology company’s stock valued at $965,000 after buying an additional 2,777 shares during the period. Focus Partners Wealth boosted its position in shares of Biogen by 172.2% during the first quarter. Focus Partners Wealth now owns 10,173 shares of the biotechnology company’s stock valued at $1,392,000 after buying an additional 6,436 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Biogen in the 2nd quarter worth approximately $216,000. Cerity Partners LLC increased its holdings in Biogen by 15.3% in the 2nd 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 in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Biogen by 13.4% in the 2nd quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company’s stock worth $336,000 after purchasing an additional 316 shares during the period. 87.93% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on BIIB. Zacks Research raised shares of Biogen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Truist Financial upgraded shares of Biogen from a “hold” rating to a “buy” rating and lifted their price objective for the company from $190.00 to $235.00 in a research note on Monday, July 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biogen in a research report on Monday, June 22nd. Citigroup increased their target price on Biogen from $200.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Finally, Piper Sandler reissued an “overweight” rating on shares of Biogen in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $227.79.
Biogen Stock Performance
NASDAQ:BIIB opened at $221.07 on Thursday. Biogen Inc. has a 1-year low of $131.52 and a 1-year high of $222.85. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.87 and a quick ratio of 1.26. The firm’s fifty day moving average price is $206.87 and its 200 day moving average price is $195.38. The firm has a market cap of $32.66 billion, a price-to-earnings ratio of 39.13, a price-to-earnings-growth ratio of 6.88 and a beta of 0.17.
Biogen (NASDAQ:BIIB – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, beating analysts’ consensus estimates of $2.94 by $0.66. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the firm earned $5.47 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, sell-side analysts expect that Biogen Inc. will post 12.39 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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