Triasima Portfolio Management inc. Acquires 9,308 Shares of Biogen Inc. $BIIB

Triasima Portfolio Management inc. acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 9,308 shares of the biotechnology company’s stock, valued at approximately $2,102,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. acquired a new position in Biogen during the 2nd quarter worth $3,453,878,000. Primecap Management Co. CA bought a new stake in Biogen during the second quarter valued at about $3,274,304,000. Legal & General Group Plc acquired a new stake in shares of Biogen in the second quarter valued at about $322,640,000. Bank of America Corp DE acquired a new stake in shares of Biogen in the second quarter valued at about $241,172,000. Finally, Deutsche Bank AG acquired a new stake in shares of Biogen in the second quarter valued at about $193,165,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Price Performance

NASDAQ:BIIB opened at $235.35 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.87 and a quick ratio of 1.26. Biogen Inc. has a one year low of $138.00 and a one year high of $240.99. The company has a fifty day moving average price of $219.47 and a 200 day moving average price of $203.65. The stock has a market cap of $34.77 billion, a P/E ratio of 41.65, a PEG ratio of 2.57 and a beta of 0.09.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.66. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the business posted $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Analysts anticipate that Biogen Inc. will post 12.41 earnings per share for the current year.

Analyst Ratings Changes

BIIB has been the topic of a number of recent analyst reports. Canaccord Genuity Group lifted their price objective on Biogen from $245.00 to $248.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings upgraded Biogen from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, September 24th. Bank of America lowered their target price on Biogen from $217.00 to $215.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Barclays raised their target price on Biogen from $185.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. raised Biogen from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $210.00 to $300.00 in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $236.04.

About Biogen

Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for serious neurological and neurodegenerative diseases. Its research focuses on conditions including multiple sclerosis, spinal muscular atrophy, Alzheimer’s disease, amyotrophic lateral sclerosis and rare neuromuscular disorders.

Biogen’s products include Spinraza (nusinersen) for spinal muscular atrophy, Tysabri (natalizumab) and Tecfidera (dimethyl fumarate) for multiple sclerosis, Qalsody (tofersen) for a genetically defined form of ALS, and Skyclarys (omaveloxolone) for Friedreich’s ataxia.