Sector Gamma AS Has $10.57 Million Stake in Biogen Inc. $BIIB

Sector Gamma AS grew its holdings in Biogen Inc. (NASDAQ:BIIB) by 49.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 75,475 shares of the biotechnology company’s stock after purchasing an additional 24,836 shares during the quarter. Biogen comprises about 2.6% of Sector Gamma AS’s investment portfolio, making the stock its 12th largest position. Sector Gamma AS’s holdings in Biogen were worth $10,573,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Elevation Point Wealth Partners LLC bought a new position in shares of Biogen in the second quarter valued at about $25,000. Rothschild Investment LLC increased its position in Biogen by 64.7% in the 2nd quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 88 shares in the last quarter. Concord Wealth Partners increased its position in Biogen by 100.0% in the 2nd quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 114 shares in the last quarter. True Wealth Design LLC raised its stake in shares of Biogen by 62.9% in the third quarter. True Wealth Design LLC now owns 233 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 90 shares during the last quarter. Finally, NewSquare Capital LLC grew its stake in shares of Biogen by 134.6% during the second quarter. NewSquare Capital LLC now owns 244 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 140 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Stifel Nicolaus raised Biogen from a “hold” rating to a “buy” rating and lifted their target price for the company from $144.00 to $202.00 in a research note on Thursday, November 6th. Morgan Stanley raised their price target on Biogen from $149.00 to $156.00 and gave the company an “equal weight” rating in a report on Friday, December 12th. The Goldman Sachs Group reiterated a “buy” rating and issued a $225.00 price objective on shares of Biogen in a research report on Thursday, January 8th. Wedbush upped their target price on shares of Biogen from $143.00 to $178.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Guggenheim raised their target price on shares of Biogen from $165.00 to $185.00 in a research note on Friday, October 31st. Ten analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $191.85.

Biogen Trading Down 1.3%

BIIB opened at $171.59 on Friday. The stock has a market capitalization of $25.17 billion, a P/E ratio of 15.64, a P/E/G ratio of 1.43 and a beta of 0.13. The company has a current ratio of 2.72, a quick ratio of 2.04 and a debt-to-equity ratio of 0.35. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $190.20. The firm’s fifty day simple moving average is $175.80 and its 200 day simple moving average is $153.30.

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