Van ECK Associates Corp Has $21.20 Million Stock Holdings in Biogen Inc. $BIIB

Van ECK Associates Corp lowered its position in shares of Biogen Inc. (NASDAQ:BIIB) by 90.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,109 shares of the biotechnology company’s stock after selling 981,752 shares during the quarter. Van ECK Associates Corp owned approximately 0.07% of Biogen worth $21,197,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BIIB. Nissay Asset Management Corp Japan boosted its position in Biogen by 522.6% in the second quarter. Nissay Asset Management Corp Japan now owns 185,301 shares of the biotechnology company’s stock valued at $40,036,000 after buying an additional 155,539 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Biogen by 5.3% during the second quarter. Wellington Management Group LLP now owns 3,117,469 shares of the biotechnology company’s stock worth $673,560,000 after buying an additional 155,828 shares in the last quarter. Kingsview Wealth Management LLC acquired a new stake in shares of Biogen during the second quarter worth approximately $253,000. Beacon Pointe Advisors LLC bought a new position in shares of Biogen in the second quarter valued at approximately $981,000. Finally, Pin Oak Investment Advisors Inc. bought a new position in shares of Biogen in the second quarter valued at approximately $177,000. 87.93% of the stock is owned by institutional investors.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $218.50 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.87 and a quick ratio of 1.26. The stock has a market cap of $32.28 billion, a price-to-earnings ratio of 38.67, a P/E/G ratio of 6.81 and a beta of 0.17. The company has a 50 day moving average of $207.81 and a 200-day moving average of $195.69. Biogen Inc. has a one year low of $131.52 and a one year high of $222.85.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last year, the firm earned $5.47 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, sell-side analysts forecast that Biogen Inc. will post 12.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BIIB. Oppenheimer restated an “outperform” rating and set a $300.00 price target on shares of Biogen in a research report on Wednesday, July 29th. Wall Street Zen downgraded Biogen from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Zacks Research raised Biogen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Needham & Company LLC increased their target price on Biogen from $255.00 to $256.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Finally, Evercore assumed coverage on Biogen in a research note on Friday, May 15th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.