Pacer Advisors Inc. Buys 131,258 Shares of Biogen Inc. $BIIB

Pacer Advisors Inc. boosted its position in Biogen Inc. (NASDAQ:BIIB) by 9.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,451,249 shares of the biotechnology company’s stock after acquiring an additional 131,258 shares during the period. Pacer Advisors Inc.’s holdings in Biogen were worth $203,291,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of BIIB. BSW Wealth Partners acquired a new stake in shares of Biogen during the third quarter worth $278,000. Swedbank AB boosted its holdings in shares of Biogen by 8.8% in the 3rd quarter. Swedbank AB now owns 232,439 shares of the biotechnology company’s stock valued at $32,560,000 after purchasing an additional 18,720 shares in the last quarter. IFM Investors Pty Ltd raised its stake in Biogen by 4.9% during the third quarter. IFM Investors Pty Ltd now owns 37,490 shares of the biotechnology company’s stock worth $5,150,000 after acquiring an additional 1,738 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Biogen by 9.8% during the third quarter. Farther Finance Advisors LLC now owns 1,049 shares of the biotechnology company’s stock worth $147,000 after buying an additional 94 shares in the last quarter. Finally, Parcion Private Wealth LLC acquired a new position in shares of Biogen in the third quarter valued at approximately $227,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Up 1.0%

Biogen stock opened at $176.54 on Friday. The firm has a market capitalization of $25.90 billion, a price-to-earnings ratio of 16.09, a P/E/G ratio of 1.48 and a beta of 0.13. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $185.17. The company has a current ratio of 2.72, a quick ratio of 2.04 and a debt-to-equity ratio of 0.35. The firm has a 50 day simple moving average of $166.18 and a 200 day simple moving average of $146.42.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.89 by $0.92. Biogen had a return on equity of 14.13% and a net margin of 15.98%.The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the prior year, the firm posted $4.08 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. On average, analysts predict that Biogen Inc. will post 15.83 earnings per share for the current year.

Analyst Ratings Changes

BIIB has been the subject of several recent research reports. Morgan Stanley increased their price target on Biogen from $149.00 to $156.00 and gave the company an “equal weight” rating in a research note on Friday, December 12th. Robert W. Baird reduced their price objective on Biogen from $255.00 to $250.00 in a research note on Friday, October 31st. Citigroup reiterated a “neutral” rating on shares of Biogen in a research note on Wednesday, September 24th. BMO Capital Markets upped their target price on shares of Biogen from $150.00 to $165.00 and gave the stock a “market perform” rating in a research note on Thursday, December 18th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Biogen in a research report on Monday. Ten analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Biogen has a consensus rating of “Hold” and a consensus price target of $183.08.

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.