2,701 Shares in Biogen Inc. $BIIB Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new stake in Biogen Inc. (NASDAQ:BIIB) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,701 shares of the biotechnology company’s stock, valued at approximately $584,000.

A number of other hedge funds have also added to or reduced their stakes in BIIB. BlackRock Inc. bought a new position in Biogen in the 2nd quarter worth $3,453,878,000. Primecap Management Co. CA purchased a new stake in shares of Biogen in the 2nd quarter worth about $3,274,304,000. Norges Bank bought a new stake in shares of Biogen during the 4th quarter valued at about $464,408,000. Boston Partners bought a new stake in shares of Biogen during the 4th quarter valued at about $302,815,000. Finally, Legal & General Group Plc purchased a new position in shares of Biogen during the second quarter valued at about $322,640,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Trading Up 0.2%

Shares of NASDAQ BIIB opened at $221.50 on Friday. Biogen Inc. has a 1 year low of $131.52 and a 1 year high of $222.85. The stock has a market cap of $32.73 billion, a P/E ratio of 39.20, a price-to-earnings-growth ratio of 6.89 and a beta of 0.17. The firm has a 50-day moving average of $207.37 and a 200 day moving average of $195.52. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.87 and a quick ratio of 1.26.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.94 by $0.66. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the prior year, the company earned $5.47 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, sell-side analysts expect that Biogen Inc. will post 12.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BIIB shares. Rothschild & Co Redburn increased their price target on shares of Biogen from $180.00 to $190.00 in a research note on Thursday, April 30th. Sanford C. Bernstein reduced their target price on Biogen from $201.00 to $200.00 in a report on Thursday, April 30th. Zacks Research raised Biogen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. UBS Group raised their target price on Biogen from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Truist Financial upgraded Biogen from a “hold” rating to a “buy” rating and lifted their price target for the company from $190.00 to $235.00 in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and an average price target of $227.79.

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.