Great Lakes Advisors LLC Acquires New Position in Biogen Inc. $BIIB

Great Lakes Advisors LLC bought a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the second quarter, HoldingsChannel.com reports. The firm bought 9,477 shares of the biotechnology company’s stock, valued at approximately $2,048,000.

Other hedge funds have also modified their holdings of the company. Reflection Asset Management purchased a new position in shares of Biogen during the 4th quarter valued at $25,000. WPG Advisers LLC lifted its position in shares of Biogen by 417.9% in the fourth quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 117 shares in the last quarter. Bell Investment Advisors Inc bought a new position in shares of Biogen in the second quarter worth about $27,000. First Horizon Corp purchased a new stake in shares of Biogen during the fourth quarter worth about $30,000. Finally, WFA of San Diego LLC purchased a new stake in shares of Biogen during the second quarter worth about $32,000. 87.93% of the stock is currently owned by institutional investors.

Biogen Price Performance

Shares of Biogen stock opened at $216.78 on Friday. The stock has a 50 day moving average price of $205.53 and a 200-day moving average price of $194.48. Biogen Inc. has a one year low of $131.52 and a one year high of $222.15. The stock has a market cap of $32.03 billion, a price-to-earnings ratio of 38.37, a price-to-earnings-growth ratio of 6.68 and a beta of 0.17. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 1.87.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wedbush boosted their price target on Biogen from $201.00 to $215.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Truist Financial raised shares of Biogen from a “hold” rating to a “buy” rating and boosted their target price for the stock from $190.00 to $235.00 in a report on Monday, July 13th. Freedom Capital raised shares of Biogen from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 1st. Mizuho increased their price objective on shares of Biogen from $221.00 to $241.00 and gave the company an “outperform” rating in a report on Tuesday, August 4th. Finally, Citigroup lifted their target price on Biogen from $200.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Biogen has a consensus rating of “Moderate Buy” and an average target price of $227.07.

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.