Persistent Asset Partners Ltd Makes New Investment in Biogen Inc. $BIIB

Persistent Asset Partners Ltd acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,874 shares of the biotechnology company’s stock, valued at approximately $506,000.

A number of other institutional investors also recently modified their holdings of BIIB. Norges Bank bought a new stake in shares of Biogen in the fourth quarter valued at about $464,408,000. Boston Partners bought a new stake in shares of Biogen in the fourth quarter valued at about $302,815,000. Orion Porfolio Solutions LLC boosted its position in shares of Biogen by 6,828.4% in the second quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company’s stock valued at $64,965,000 after acquiring an additional 509,809 shares during the period. Caisse de depot et placement du Quebec boosted its position in shares of Biogen by 718.2% in the third quarter. Caisse de depot et placement du Quebec now owns 569,253 shares of the biotechnology company’s stock valued at $79,741,000 after acquiring an additional 499,676 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of Biogen by 30.7% in the third quarter. AQR Capital Management LLC now owns 1,783,581 shares of the biotechnology company’s stock valued at $248,809,000 after acquiring an additional 418,776 shares during the period. Institutional investors own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

BIIB has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their target price on shares of Biogen from $231.00 to $238.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Morgan Stanley boosted their target price on shares of Biogen from $200.00 to $206.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Rothschild & Co Redburn boosted their target price on shares of Biogen from $180.00 to $190.00 in a research report on Thursday, April 30th. HC Wainwright reissued a “buy” rating on shares of Biogen in a research report on Thursday, May 14th. Finally, Mizuho reduced their target price on shares of Biogen from $236.00 to $221.00 and set an “outperform” rating for the company in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $216.70.

Biogen Stock Down 1.5%

BIIB stock opened at $195.61 on Wednesday. The company has a market cap of $28.88 billion, a PE ratio of 20.99 and a beta of 0.20. The business has a 50-day simple moving average of $189.52 and a 200 day simple moving average of $184.58. Biogen Inc. has a 52 week low of $121.05 and a 52 week high of $205.97. The company has a quick ratio of 2.41, a current ratio of 3.06 and a debt-to-equity ratio of 0.34.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $2.95 by $0.62. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.29 billion. Biogen had a return on equity of 12.83% and a net margin of 13.81%.Biogen’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.02 earnings per share. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Sell-side analysts anticipate that Biogen Inc. will post 14.18 EPS for the current fiscal year.

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.