Fluent Financial LLC Makes New Investment in Biogen Inc. $BIIB

Fluent Financial LLC purchased a new stake in Biogen Inc. (NASDAQ:BIIB) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 25,543 shares of the biotechnology company’s stock, valued at approximately $3,578,000. Biogen makes up 1.4% of Fluent Financial LLC’s holdings, making the stock its 23rd largest position.

Several other institutional investors have also made changes to their positions in the stock. Elevation Point Wealth Partners LLC acquired a new stake in Biogen during the second quarter worth approximately $25,000. Rothschild Investment LLC lifted its position in shares of Biogen by 64.7% during the 2nd quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 88 shares during the period. Concord Wealth Partners lifted its position in shares of Biogen by 100.0% during the 2nd quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 114 shares during the period. NewSquare Capital LLC grew its holdings in shares of Biogen by 134.6% during the 2nd quarter. NewSquare Capital LLC now owns 244 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 140 shares in the last quarter. Finally, WFA of San Diego LLC bought a new position in shares of Biogen in the second quarter worth $32,000. 87.93% of the stock is currently owned by institutional investors.

Biogen Price Performance

BIIB stock opened at $174.80 on Friday. The stock has a market cap of $25.64 billion, a price-to-earnings ratio of 15.93, a P/E/G ratio of 1.47 and a beta of 0.13. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.72 and a quick ratio of 2.04. The company has a 50 day simple moving average of $163.65 and a 200 day simple moving average of $145.29. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $185.17.

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

Analyst Ratings Changes

A number of brokerages have issued reports on BIIB. HSBC reiterated a “reduce” rating and set a $143.00 price objective (down from $144.00) on shares of Biogen in a research note on Wednesday, December 10th. Jefferies Financial Group upped their price target on shares of Biogen from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, November 28th. Mizuho lifted their price objective on shares of Biogen from $169.00 to $177.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Robert W. Baird lowered their price objective on shares of Biogen from $255.00 to $250.00 in a research report on Friday, October 31st. Finally, BMO Capital Markets raised their target price on Biogen from $150.00 to $165.00 and gave the company a “market perform” rating in a report on Thursday. Ten equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Biogen presently has a consensus rating of “Hold” and an average price target of $183.08.

About Biogen

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.