Van ECK Associates Corp Decreases Holdings in Biogen Inc. $BIIB

Van ECK Associates Corp cut its stake in Biogen Inc. (NASDAQ:BIIB) by 0.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,066,931 shares of the biotechnology company’s stock after selling 7,880 shares during the quarter. Van ECK Associates Corp’s holdings in Biogen were worth $149,456,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BIIB. Elevation Point Wealth Partners LLC purchased a new stake in shares of Biogen in the second quarter valued at about $25,000. Accredited Wealth Management LLC lifted its stake in Biogen by 1,233.3% during the 3rd quarter. Accredited Wealth Management LLC now owns 200 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 185 shares in the last quarter. Rothschild Investment LLC boosted its stake in shares of Biogen by 64.7% in the second quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 88 shares during the period. True Wealth Design LLC boosted its position in Biogen by 62.9% in the 3rd quarter. True Wealth Design LLC now owns 233 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 90 shares during the period. Finally, WFA of San Diego LLC acquired a new position in Biogen during the 2nd quarter worth $32,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Performance

NASDAQ BIIB opened at $188.41 on Wednesday. The business’s 50-day moving average price is $183.55 and its 200 day moving average price is $166.15. The company has a current ratio of 2.68, a quick ratio of 2.03 and a debt-to-equity ratio of 0.34. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $202.41. The company has a market capitalization of $27.65 billion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 1.49 and a beta of 0.15.

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

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Stifel Nicolaus increased their price objective on Biogen from $202.00 to $214.00 and gave the company a “buy” rating in a report on Friday, February 6th. Tudor Pickering set a $201.00 price objective on Biogen in a research report on Monday, February 9th. BMO Capital Markets raised their price objective on Biogen from $165.00 to $196.00 and gave the company a “market perform” rating in a research note on Friday, February 6th. Wells Fargo & Company raised their price target on Biogen from $190.00 to $200.00 and gave the company an “equal weight” rating in a research report on Sunday, February 8th. Finally, Truist Financial lifted their price target on Biogen from $190.00 to $193.00 and gave the stock a “hold” rating in a research note on Monday, February 9th. Twelve research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat.com, Biogen has an average rating of “Hold” and an average price target of $205.04.

Insiders Place Their Bets

In other news, insider Priya Singhal sold 2,660 shares of the 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 completion of the transaction, the insider directly owned 8,043 shares in the company, 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 SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by company insiders.

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.