Sanctuary Advisors LLC Purchases New Holdings in Biogen Inc. $BIIB

Sanctuary Advisors LLC acquired a new position in Biogen Inc. (NASDAQ:BIIB) in the 2nd quarter, HoldingsChannel reports. The fund acquired 5,838 shares of the biotechnology company’s stock, valued at approximately $1,261,000.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Biogen in the second quarter worth approximately $3,453,878,000. Norges Bank purchased a new position in Biogen during the 4th quarter valued at $464,408,000. Boston Partners purchased a new position in Biogen during the 4th quarter valued at $302,815,000. Deutsche Bank AG bought a new position in Biogen in the 2nd quarter valued at $193,165,000. Finally, Fred Alger Management LLC grew its position in Biogen by 39,074.8% in the 4th quarter. Fred Alger Management LLC now owns 798,774 shares of the biotechnology company’s stock valued at $140,576,000 after acquiring an additional 796,735 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

BIIB has been the topic of several recent analyst reports. Rothschild & Co Redburn raised their price target on shares of Biogen from $180.00 to $190.00 in a research note on Thursday, April 30th. HSBC reissued a “reduce” rating and issued a $157.00 price objective on shares of Biogen in a research report on Monday, July 6th. Guggenheim raised their target price on shares of Biogen from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Zacks Research raised shares of Biogen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, Wolfe Research raised shares of Biogen from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $227.79.

Biogen Trading Up 0.2%

NASDAQ:BIIB opened at $221.50 on Friday. The firm has a 50-day simple moving average of $207.37 and a 200-day simple moving average of $195.52. Biogen Inc. has a one year low of $131.52 and a one year high of $222.85. The firm has a market cap of $32.73 billion, a P/E ratio of 39.20, a P/E/G ratio of 6.89 and a beta of 0.17. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 1.87.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.94 by $0.66. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm earned $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Equities analysts anticipate that Biogen Inc. will post 12.39 EPS 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.