Renaissance Technologies LLC Has $37.29 Million Stock Holdings in Biogen Inc. $BIIB

Renaissance Technologies LLC lowered its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 49.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 203,396 shares of the biotechnology company’s stock after selling 195,800 shares during the period. Renaissance Technologies LLC owned approximately 0.14% of Biogen worth $37,289,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in BIIB. Reflection Asset Management acquired a new stake in shares of Biogen in the 4th quarter valued at about $25,000. WPG Advisers LLC raised its stake in Biogen by 417.9% during the 4th quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock worth $26,000 after buying an additional 117 shares during the period. First Horizon Corp acquired a new position in Biogen during the 4th quarter worth approximately $30,000. Root Financial Partners LLC boosted its holdings in Biogen by 198.4% in the fourth quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 123 shares in the last quarter. Finally, MV Capital Management Inc. bought a new position in Biogen in the fourth quarter worth approximately $34,000. Institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

BIIB has been the subject of several recent research reports. Canaccord Genuity Group boosted their price objective on Biogen from $230.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, April 1st. Morgan Stanley cut their target price on Biogen from $224.00 to $222.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 8th. Freedom Capital raised shares of Biogen from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 1st. Citigroup boosted their price target on shares of Biogen from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Biogen in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.57.

Biogen Stock Performance

Shares of Biogen stock opened at $200.14 on Tuesday. Biogen Inc. has a 52 week low of $124.56 and a 52 week high of $219.72. 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 business has a 50 day moving average price of $199.95 and a 200-day moving average price of $190.08. The company has a market cap of $29.55 billion, a PE ratio of 21.47 and a beta of 0.16.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.95 by $0.62. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The company had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the previous year, the firm earned $3.02 earnings per share. Biogen’s quarterly revenue was up 1.9% on a year-over-year basis. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Equities analysts anticipate that Biogen Inc. will post 11.29 earnings per share for the current fiscal 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.