Biogen Inc. $BIIB Holdings Increased by Wedbush Securities Inc.

Wedbush Securities Inc. raised its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 1,391.8% during the third quarter, Holdings Channel reports. The firm owned 17,364 shares of the biotechnology company’s stock after buying an additional 16,200 shares during the quarter. Wedbush Securities Inc.’s holdings in Biogen were worth $3,922,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sterling Capital Management LLC raised its holdings in Biogen by 1,449.3% in the 3rd quarter. Sterling Capital Management LLC now owns 74,522 shares of the biotechnology company’s stock worth $16,833,000 after purchasing an additional 69,712 shares in the last quarter. XXI Wealth LLC boosted its stake in shares of Biogen by 5.7% during the 3rd quarter. XXI Wealth LLC now owns 3,810 shares of the biotechnology company’s stock valued at $861,000 after purchasing an additional 207 shares in the last quarter. Yousif Capital Management LLC boosted its stake in shares of Biogen by 1,813.5% during the 3rd quarter. Yousif Capital Management LLC now owns 270,457 shares of the biotechnology company’s stock valued at $61,091,000 after purchasing an additional 256,323 shares in the last quarter. Root Financial Partners LLC bought a new stake in shares of Biogen during the 3rd quarter valued at about $895,000. Finally, E. Ohman J or Asset Management AB increased its position in shares of Biogen by 2,248.8% during the third quarter. E. Ohman J or Asset Management AB now owns 113,189 shares of the biotechnology company’s stock valued at $25,567,000 after buying an additional 108,370 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Mizuho boosted their price target on shares of Biogen from $221.00 to $241.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Wolfe Research upgraded shares of Biogen from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a report on Thursday, August 13th. Guggenheim lifted their price objective on Biogen from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Stifel Nicolaus set a $242.00 price objective on Biogen in a research report on Thursday, September 10th. Finally, Oppenheimer reissued an “outperform” rating and issued a $300.00 target price on shares of Biogen in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Biogen has a consensus rating of “Moderate Buy” and a consensus price target of $241.89.

Biogen Stock Down 1.2%

Shares of NASDAQ:BIIB traded down $3.15 during midday trading on Friday, reaching $250.69. The company’s stock had a trading volume of 1,157,351 shares, compared to its average volume of 1,296,961. The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.39. The firm has a 50 day moving average of $223.60 and a 200-day moving average of $206.04. The firm has a market capitalization of $37.04 billion, a P/E ratio of 44.37, a PEG ratio of 2.83 and a beta of 0.09. Biogen Inc. has a 12-month low of $138.00 and a 12-month high of $254.41.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results 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 company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last year, the company posted $5.47 EPS. Biogen’s revenue 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, research analysts anticipate that Biogen Inc. will post 12.29 earnings per share for the current year.

Biogen Profile

Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for neurological and neurodegenerative diseases. Its areas of focus include multiple sclerosis, Alzheimer’s disease, spinal muscular atrophy, amyotrophic lateral sclerosis and other serious medical conditions.

The company’s portfolio includes multiple sclerosis treatments such as Tecfidera, Vumerity, Tysabri, Plegridy and Avonex, as well as Spinraza for spinal muscular atrophy. Biogen also markets Leqembi, an Alzheimer’s disease treatment developed in collaboration with Eisai, and works with partners to advance additional therapies and biosimilars.

Biogen was founded in 1978 and is headquartered in Cambridge, Massachusetts.