Biogen Inc. $BIIB Shares Purchased by Barrett & Company Inc.

Barrett & Company Inc. lifted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 8,483.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,575 shares of the biotechnology company’s stock after acquiring an additional 2,545 shares during the period. Barrett & Company Inc.’s holdings in Biogen were worth $582,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BIIB. BlackRock Inc. bought a new position in Biogen during the 2nd quarter valued at about $3,453,878,000. Orbimed Advisors LLC acquired a new position in shares of Biogen during the first quarter valued at $11,293,000. Tidal Investments LLC lifted its holdings in Biogen by 9.0% in the second quarter. Tidal Investments LLC now owns 63,842 shares of the biotechnology company’s stock valued at $13,794,000 after buying an additional 5,256 shares during the period. Nippon Life Global Investors Americas Inc. bought a new stake in shares of Biogen in the 2nd quarter valued at about $29,648,000. Finally, Saudi Central Bank increased its holdings in shares of Biogen by 89.7% in the second quarter. Saudi Central Bank now owns 10,273 shares of the biotechnology company’s stock worth $2,220,000 after acquiring an additional 4,858 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Price Performance

BIIB opened at $250.69 on Friday. Biogen Inc. has a 1 year low of $138.00 and a 1 year high of $254.41. 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 $223.60 and its two-hundred day moving average price is $206.04. The company has a market capitalization of $37.04 billion, a price-to-earnings ratio of 44.37, a P/E/G ratio of 2.83 and a beta of 0.09.

Biogen (NASDAQ:BIIB) 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 for the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the previous year, the firm earned $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, analysts anticipate that Biogen Inc. will post 12.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BIIB has been the topic of a number of recent research reports. UBS Group lifted their price objective on shares of Biogen from $240.00 to $270.00 and gave the company a “buy” rating in a report on Friday, October 9th. Wall Street Zen downgraded Biogen from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Canaccord Genuity Group raised their target price on Biogen from $245.00 to $248.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Citigroup boosted their target price on shares of Biogen from $200.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Finally, Mizuho lifted their price objective on Biogen from $221.00 to $241.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $241.89.

Biogen Company Profile

Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for neurological and neurodegenerative diseases. Its areas of focus include multiple sclerosis, Alzheimer’s disease, spinal muscular atrophy, amyotrophic lateral sclerosis and other serious medical conditions.

The company’s portfolio includes multiple sclerosis treatments such as Tecfidera, Vumerity, Tysabri, Plegridy and Avonex, as well as Spinraza for spinal muscular atrophy. Biogen also markets Leqembi, an Alzheimer’s disease treatment developed in collaboration with Eisai, and works with partners to advance additional therapies and biosimilars.

Biogen was founded in 1978 and is headquartered in Cambridge, Massachusetts.