Wealthfront Advisers LLC Raises Holdings in Biogen Inc. $BIIB

Wealthfront Advisers LLC lifted its holdings in Biogen Inc. (NASDAQ:BIIB) by 30.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,324 shares of the biotechnology company’s stock after purchasing an additional 2,640 shares during the quarter. Wealthfront Advisers LLC’s holdings in Biogen were worth $1,586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank purchased a new position in Biogen in the 2nd quarter worth about $284,358,000. Orion Porfolio Solutions LLC raised its holdings in shares of Biogen by 6,828.4% during the second quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company’s stock valued at $64,965,000 after purchasing an additional 509,809 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Biogen by 190.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 624,371 shares of the biotechnology company’s stock valued at $78,415,000 after purchasing an additional 409,591 shares during the period. AustralianSuper Pty Ltd lifted its position in Biogen by 85.9% during the second quarter. AustralianSuper Pty Ltd now owns 739,416 shares of the biotechnology company’s stock valued at $92,863,000 after purchasing an additional 341,719 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Biogen by 1.5% in the second quarter. Vanguard Group Inc. now owns 17,290,651 shares of the biotechnology company’s stock worth $2,171,533,000 after purchasing an additional 257,812 shares during the last quarter. 87.93% of the stock is owned by institutional investors.

Biogen Stock Up 0.5%

BIIB stock opened at $196.52 on Friday. The business’s 50-day moving average price is $178.22 and its 200-day moving average price is $159.06. The stock has a market cap of $28.84 billion, a P/E ratio of 22.31, a PEG ratio of 1.56 and a beta of 0.16. The company has a quick ratio of 2.03, a current ratio of 2.68 and a debt-to-equity ratio of 0.34. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $202.41.

Biogen (NASDAQ:BIIB) last released its earnings results on Friday, February 6th. The biotechnology company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.38. Biogen had a net margin of 13.07% and a return on equity of 12.64%. The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter last year, the business earned $3.44 EPS. The firm’s revenue was down 7.2% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 15.250-16.250 EPS. On average, equities research analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.

Insider Buying and Selling

In other news, insider Priya Singhal sold 2,660 shares of the company’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $199.83, for a total value of $531,547.80. Following the completion of the transaction, the insider owned 8,043 shares of the company’s stock, valued at $1,607,232.69. This represents a 24.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

BIIB has been the topic of several research analyst reports. BMO Capital Markets increased their price target on Biogen from $165.00 to $196.00 and gave the company a “market perform” rating in a report on Friday, February 6th. Guggenheim increased their target price on Biogen from $185.00 to $246.00 and gave the company a “buy” rating in a report on Monday, February 9th. Canaccord Genuity Group boosted their price target on Biogen from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Royal Bank Of Canada upped their price target on shares of Biogen from $217.00 to $233.00 and gave the company an “outperform” rating in a research report on Monday, February 9th. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of Biogen in a report on Monday, February 9th. Twelve analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $205.84.

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.