Rhenman & Partners Asset Management AB Acquires 37,350 Shares of Biogen Inc. $BIIB

Rhenman & Partners Asset Management AB boosted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 67.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,350 shares of the biotechnology company’s stock after acquiring an additional 37,350 shares during the period. Biogen comprises about 1.5% of Rhenman & Partners Asset Management AB’s portfolio, making the stock its 26th largest position. Rhenman & Partners Asset Management AB owned approximately 0.06% of Biogen worth $16,253,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BIIB. Norges Bank purchased a new stake in shares of Biogen during the fourth quarter valued at about $464,408,000. Orion Porfolio Solutions LLC lifted its position in shares of Biogen by 6,828.4% during the second quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company’s stock valued at $64,965,000 after buying an additional 509,809 shares during the last quarter. Caisse de depot et placement du Quebec lifted its position in shares of Biogen by 718.2% during the third quarter. Caisse de depot et placement du Quebec now owns 569,253 shares of the biotechnology company’s stock valued at $79,741,000 after buying an additional 499,676 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Biogen by 30.7% during the third quarter. AQR Capital Management LLC now owns 1,783,581 shares of the biotechnology company’s stock valued at $248,809,000 after buying an additional 418,776 shares during the last quarter. Finally, HRT Financial LP lifted its position in shares of Biogen by 8,542.9% during the fourth quarter. HRT Financial LP now owns 384,265 shares of the biotechnology company’s stock valued at $67,626,000 after buying an additional 379,819 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on BIIB. Sanford C. Bernstein decreased their price target on shares of Biogen from $201.00 to $200.00 in a research report on Thursday, April 30th. Citigroup increased their price target on shares of Biogen from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Weiss Ratings raised shares of Biogen from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. UBS Group raised shares of Biogen from a “neutral” rating to a “buy” rating and increased their price target for the company from $185.00 to $225.00 in a research report on Wednesday, April 22nd. Finally, Guggenheim increased their price target on shares of Biogen from $246.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $217.26.

Biogen Stock Performance

BIIB opened at $200.05 on Friday. Biogen Inc. has a 12-month low of $121.05 and a 12-month high of $205.97. The company has a current ratio of 3.06, a quick ratio of 2.41 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $29.54 billion, a PE ratio of 21.46 and a beta of 0.20. The firm has a 50 day moving average of $188.73 and a two-hundred day moving average of $184.31.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.95 by $0.62. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same period last year, the firm posted $3.02 EPS. Biogen’s revenue for the quarter was up 1.9% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. On average, analysts anticipate that Biogen Inc. will post 14.18 EPS for the current year.

About Biogen

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.