Wedge Capital Management L L P NC Invests $27.02 Million in Biogen Inc. $BIIB

Wedge Capital Management L L P NC acquired a new stake in Biogen Inc. (NASDAQ:BIIB) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 192,872 shares of the biotechnology company’s stock, valued at approximately $27,018,000. Wedge Capital Management L L P NC owned about 0.13% of Biogen as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of BIIB. Elevation Point Wealth Partners LLC bought a new stake in shares of Biogen during the 2nd quarter valued at $25,000. Rothschild Investment LLC grew its stake in shares of Biogen by 64.7% during the second quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 88 shares during the period. Concord Wealth Partners grew its stake in shares of Biogen by 100.0% during the second quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 114 shares during the period. NewSquare Capital LLC increased its holdings in Biogen by 134.6% in 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. Finally, WFA of San Diego LLC acquired a new position in Biogen in the second quarter valued at about $32,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Trading Up 2.9%

NASDAQ:BIIB opened at $174.80 on Friday. The company has a market cap of $25.64 billion, a P/E ratio of 15.93, a price-to-earnings-growth ratio of 1.47 and a beta of 0.13. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $185.17. The business has a 50 day moving average price of $163.65 and a two-hundred day moving average price of $145.29. The company has a quick ratio of 2.04, a current ratio of 2.72 and a debt-to-equity ratio of 0.35.

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Stifel Nicolaus upgraded Biogen from a “hold” rating to a “buy” rating and boosted their target price for the stock from $144.00 to $202.00 in a research report on Thursday, November 6th. Tudor Pickering set a $157.00 price objective on shares of Biogen in a research note on Monday, November 3rd. HSBC restated a “reduce” rating and set a $143.00 price objective (down previously from $144.00) on shares of Biogen in a report on Wednesday, December 10th. Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a report on Wednesday, September 24th. Finally, Morgan Stanley lifted their price target on shares of Biogen from $149.00 to $156.00 and gave the stock an “equal weight” rating in a research report on Friday, December 12th. Ten equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $183.08.

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.