Suvretta Capital Management LLC Has $23.56 Million Stake in Biogen Inc. $BIIB

Suvretta Capital Management LLC increased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 10.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 168,190 shares of the biotechnology company’s stock after acquiring an additional 16,300 shares during the period. Suvretta Capital Management LLC owned about 0.11% of Biogen worth $23,560,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BIIB. Norges Bank bought a new stake in shares of Biogen during the second quarter worth about $284,358,000. Orion Porfolio Solutions LLC raised its holdings in Biogen by 6,828.4% in the 2nd 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. Arrowstreet Capital Limited Partnership raised its holdings in Biogen by 190.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 624,371 shares of the biotechnology company’s stock valued at $78,415,000 after buying an additional 409,591 shares during the last quarter. Vanguard Group Inc. boosted its position in Biogen by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 17,290,651 shares of the biotechnology company’s stock worth $2,171,533,000 after buying an additional 257,812 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its holdings in Biogen by 49.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 671,054 shares of the biotechnology company’s stock worth $94,001,000 after acquiring an additional 222,297 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Down 1.8%

Shares of NASDAQ BIIB opened at $181.55 on Friday. The company has a quick ratio of 2.03, a current ratio of 2.68 and a debt-to-equity ratio of 0.34. The firm has a market cap of $26.64 billion, a PE ratio of 20.61, a P/E/G ratio of 1.47 and a beta of 0.15. The company’s fifty day simple moving average is $184.10 and its 200 day simple moving average is $166.76. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $202.41.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Friday, February 6th. The biotechnology company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.38. The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.21 billion. Biogen had a net margin of 13.07% and a return on equity of 12.64%. The business’s revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.44 earnings per share. Biogen has set its FY 2026 guidance at 15.250-16.250 EPS. As a group, sell-side analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Priya Singhal sold 2,660 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $199.83, for a total transaction of $531,547.80. Following the transaction, the insider directly owned 8,043 shares of the company’s stock, valued at approximately $1,607,232.69. This represents a 24.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on BIIB. Tudor Pickering set a $201.00 price target on shares of Biogen in a research note on Monday, February 9th. Barclays began coverage on shares of Biogen in a research note on Thursday, February 19th. They issued an “equal weight” rating and a $185.00 price objective on the stock. Guggenheim increased their price objective on Biogen from $185.00 to $246.00 and gave the company a “buy” rating in a report on Monday, February 9th. HC Wainwright raised their price target on shares of Biogen from $194.00 to $228.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Finally, Citigroup lifted their price objective on Biogen from $185.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Twelve equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $205.04.

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.