Tocqueville Asset Management L.P. Makes New $969,000 Investment in Biogen Inc. $BIIB

Tocqueville Asset Management L.P. bought a new stake in shares of Biogen Inc. (NASDAQ:BIIB) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,486 shares of the biotechnology company’s stock, valued at approximately $969,000.

A number of other hedge funds have also modified their holdings of the stock. Reflection Asset Management purchased a new stake in shares of Biogen during the fourth quarter worth $25,000. WPG Advisers LLC grew its stake in Biogen by 417.9% in the fourth quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 117 shares in the last quarter. Bell Investment Advisors Inc acquired a new position in Biogen in the 2nd quarter worth about $27,000. First Horizon Corp acquired a new position in Biogen in the 4th quarter worth about $30,000. Finally, WFA of San Diego LLC purchased a new stake in shares of Biogen during the 2nd quarter worth about $32,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $214.35 on Friday. Biogen Inc. has a 1-year low of $131.52 and a 1-year high of $222.15. The firm has a market capitalization of $31.67 billion, a PE ratio of 37.94, a PEG ratio of 6.90 and a beta of 0.17. The business’s 50 day moving average is $205.20 and its 200-day moving average is $194.32. The company has a current ratio of 1.87, a quick ratio of 1.26 and a debt-to-equity ratio of 0.39.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, beating analysts’ consensus estimates of $2.94 by $0.66. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.46 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%.Biogen’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the company posted $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Sell-side analysts predict that Biogen Inc. will post 12.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BIIB shares. Guggenheim increased their price objective on Biogen from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Truist Financial upgraded shares of Biogen from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $190.00 to $235.00 in a research note on Monday, July 13th. Canaccord Genuity Group upped their price objective on shares of Biogen from $245.00 to $248.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. UBS Group raised their target price on shares of Biogen from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Oppenheimer reissued an “outperform” rating and set a $300.00 target price on shares of Biogen in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $227.07.

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.