First Trust Advisors LP Has $123.56 Million Position in Biogen Inc. $BIIB

First Trust Advisors LP grew its stake in Biogen Inc. (NASDAQ:BIIB) by 19.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 673,958 shares of the biotechnology company’s stock after purchasing an additional 108,111 shares during the quarter. First Trust Advisors LP’s holdings in Biogen were worth $123,557,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Norges Bank bought a new position in Biogen in the 4th quarter valued at about $464,408,000. Boston Partners bought a new stake in shares of Biogen during the fourth quarter worth approximately $302,815,000. Fred Alger Management LLC grew its position in shares of 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 purchasing an additional 796,735 shares during the last quarter. Employees Provident Fund Board acquired a new position in shares of Biogen in the fourth quarter valued at approximately $123,931,000. Finally, Orion Porfolio Solutions LLC increased its stake 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 worth $64,965,000 after purchasing an additional 509,809 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

BIIB has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Biogen from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, April 23rd. Rothschild & Co Redburn increased their price objective on Biogen from $180.00 to $190.00 in a research report on Thursday, April 30th. Freedom Capital raised Biogen from a “hold” rating to a “strong-buy” rating in a report on Friday, May 1st. Evercore initiated coverage on shares of Biogen in a research report on Friday, May 15th. They issued an “outperform” rating for the company. Finally, Morgan Stanley decreased their price target on shares of Biogen from $224.00 to $222.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $220.57.

Biogen Trading Up 1.5%

Shares of NASDAQ:BIIB opened at $200.62 on Friday. The company has a market capitalization of $29.62 billion, a P/E ratio of 21.53 and a beta of 0.16. Biogen Inc. has a 1 year low of $124.56 and a 1 year high of $219.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.06 and a quick ratio of 2.41. The business’s 50 day simple moving average is $199.60 and its 200 day simple moving average is $189.76.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $2.95 by $0.62. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.29 billion. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The company’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company earned $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. On average, research analysts anticipate that Biogen Inc. will post 13.47 EPS for the current fiscal 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.