Orbimed Advisors LLC Makes New $11.29 Million Investment in Biogen Inc. $BIIB

Orbimed Advisors LLC purchased a new stake in shares of Biogen Inc. (NASDAQ:BIIB) during the 1st quarter, HoldingsChannel reports. The firm purchased 61,600 shares of the biotechnology company’s stock, valued at approximately $11,293,000.

A number of other hedge funds have also modified their holdings of BIIB. Norges Bank purchased a new position in shares of Biogen in the fourth quarter worth about $464,408,000. Boston Partners acquired a new stake in shares of Biogen during the fourth quarter worth about $302,815,000. Fred Alger Management LLC boosted its position in Biogen by 39,074.8% in the fourth quarter. Fred Alger Management LLC now owns 798,774 shares of the biotechnology company’s stock valued at $140,576,000 after buying an additional 796,735 shares during the last quarter. Employees Provident Fund Board purchased a new stake in Biogen in the fourth quarter valued at approximately $123,931,000. Finally, Orion Porfolio Solutions LLC increased its holdings in Biogen by 6,828.4% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company’s stock worth $64,965,000 after buying an additional 509,809 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Argus raised shares of Biogen to a “hold” rating in a research report on Thursday, April 9th. Oppenheimer upped their price objective on shares of Biogen from $275.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Freedom Capital upgraded shares of Biogen from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 1st. Citigroup raised their target price on shares of Biogen from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Finally, Truist Financial raised shares of Biogen from a “hold” rating to a “buy” rating and upped their price target for the company from $190.00 to $235.00 in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $220.57.

Biogen Stock Performance

Shares of NASDAQ:BIIB opened at $202.19 on Monday. The company has a current ratio of 3.06, a quick ratio of 2.41 and a debt-to-equity ratio of 0.34. Biogen Inc. has a 12-month low of $124.56 and a 12-month high of $219.72. The business has a 50 day moving average of $199.78 and a two-hundred day moving average of $189.95. The company has a market capitalization of $29.85 billion, a PE ratio of 21.69 and a beta of 0.16.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share for the quarter, beating the consensus estimate of $2.95 by $0.62. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same period in the previous year, the firm earned $3.02 EPS. The business’s quarterly revenue was up 1.9% on a year-over-year basis. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. As a group, analysts forecast that Biogen Inc. will post 11.29 EPS for the current year.

Biogen Company 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.