United Capital Financial Advisors LLC purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,017 shares of the biotechnology company’s stock, valued at approximately $1,516,000.
Several other hedge funds have also added to or reduced their stakes in BIIB. BlackRock Inc. bought a new position in shares of Biogen during the 2nd quarter valued at about $3,453,878,000. Primecap Management Co. CA acquired a new position in shares of Biogen in the second quarter valued at approximately $3,274,304,000. Geode Capital Management LLC increased its position in shares of Biogen by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 4,199,399 shares of the biotechnology company’s stock worth $736,435,000 after acquiring an additional 130,618 shares in the last quarter. Norges Bank acquired a new stake in shares of Biogen during the fourth quarter worth $464,408,000. Finally, Invesco Ltd. lifted its position in Biogen by 4.2% in the 3rd quarter. Invesco Ltd. now owns 2,418,127 shares of the biotechnology company’s stock valued at $338,731,000 after acquiring an additional 98,001 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.
Analyst Ratings Changes
BIIB has been the topic of a number of recent research reports. Bank of America dropped their target price on Biogen from $217.00 to $215.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 21st. Royal Bank Of Canada increased their target price on shares of Biogen from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Tuesday. TD Cowen boosted their price target on shares of Biogen from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Cantor Fitzgerald restated an “overweight” rating on shares of Biogen in a research note on Monday, June 22nd. Finally, Zacks Research upgraded Biogen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have issued a Hold rating and one has given 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 $227.79.
Biogen Price Performance
Shares of NASDAQ BIIB opened at $218.50 on Friday. The stock has a market capitalization of $32.28 billion, a PE ratio of 38.67, a P/E/G ratio of 6.81 and a beta of 0.17. Biogen Inc. has a fifty-two week low of $131.52 and a fifty-two week 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 business has a fifty day moving average price of $207.81 and a two-hundred day moving average price of $195.68.
Biogen (NASDAQ:BIIB – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, topping 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 company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the prior year, the firm posted $5.47 EPS. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, equities analysts predict that Biogen Inc. will post 12.39 earnings per share for the current fiscal 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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