Biogen Inc. (NASDAQ:BIIB) Short Interest Update

Biogen Inc. (NASDAQ:BIIB) was the target of a large drop in short interest in December. As of December 31st, there was short interest totaling 4,466,337 shares, a drop of 32.2% from the December 15th total of 6,590,958 shares. Based on an average daily volume of 2,674,703 shares, the days-to-cover ratio is currently 1.7 days. Approximately 3.0% of the company’s stock are sold short. Approximately 3.0% of the company’s stock are sold short. Based on an average daily volume of 2,674,703 shares, the days-to-cover ratio is currently 1.7 days.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BIIB. HSBC restated a “reduce” rating and issued a $143.00 price target (down from $144.00) on shares of Biogen in a research note on Wednesday, December 10th. Mizuho boosted their target price on Biogen from $177.00 to $207.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. BMO Capital Markets increased their price target on shares of Biogen from $150.00 to $165.00 and gave the company a “market perform” rating in a research note on Thursday, December 18th. Rothschild & Co Redburn boosted their price objective on shares of Biogen from $149.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Finally, William Blair restated an “outperform” rating on shares of Biogen in a report on Wednesday, September 24th. Ten research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $190.50.

Biogen Stock Performance

Shares of NASDAQ:BIIB traded down $4.15 on Friday, reaching $164.42. The company’s stock had a trading volume of 1,816,008 shares, compared to its average volume of 1,992,496. Biogen has a 52-week low of $110.04 and a 52-week high of $190.20. The stock has a market capitalization of $24.12 billion, a P/E ratio of 14.99, a PEG ratio of 1.37 and a beta of 0.13. The stock’s 50-day moving average is $175.04 and its two-hundred day moving average is $152.01. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.72 and a quick ratio of 2.04.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, beating the consensus estimate of $3.89 by $0.92. Biogen had a return on equity of 14.13% and a net margin of 15.98%.The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the prior year, the business earned $4.08 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. As a group, sell-side analysts forecast that Biogen will post 15.83 EPS for the current year.

Hedge Funds Weigh In On Biogen

A number of large investors have recently bought and sold shares of the company. Banque Pictet & Cie SA grew its holdings in Biogen by 5.5% in the second quarter. Banque Pictet & Cie SA now owns 72,025 shares of the biotechnology company’s stock valued at $9,046,000 after purchasing an additional 3,751 shares during the period. Generali Investments CEE investicni spolecnost a.s. boosted its holdings in shares of Biogen by 43.2% in the 2nd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 38,755 shares of the biotechnology company’s stock valued at $4,867,000 after purchasing an additional 11,695 shares during the last quarter. Valeo Financial Advisors LLC purchased a new stake in shares of Biogen during the 2nd quarter valued at $225,000. Privium Fund Management B.V. acquired a new position in Biogen in the second quarter valued at $2,666,000. Finally, KLP Kapitalforvaltning AS grew its position in Biogen by 6.7% during the second quarter. KLP Kapitalforvaltning AS now owns 166,577 shares of the biotechnology company’s stock valued at $20,920,000 after acquiring an additional 10,500 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

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.