Rakuten Investment Management Inc. Takes $27.82 Million Position in Biogen Inc. $BIIB

Rakuten Investment Management Inc. bought a new stake in Biogen Inc. (NASDAQ:BIIB) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 198,572 shares of the biotechnology company’s stock, valued at approximately $27,816,000.

Several other large investors have also made changes to their positions in BIIB. Elevation Point Wealth Partners LLC purchased a new stake in Biogen in the second quarter valued at $25,000. Rothschild Investment LLC lifted its holdings in Biogen by 64.7% in the second quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 88 shares during the period. Concord Wealth Partners grew its stake in shares of Biogen by 100.0% during the 2nd quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 114 shares during the period. True Wealth Design LLC lifted its stake in shares of Biogen by 62.9% in the 3rd quarter. True Wealth Design LLC now owns 233 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 90 shares during the period. Finally, NewSquare Capital LLC boosted its holdings in Biogen by 134.6% during the second quarter. NewSquare Capital LLC now owns 244 shares of the biotechnology company’s stock worth $31,000 after buying an additional 140 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Trading Up 0.6%

BIIB opened at $165.38 on Wednesday. The firm has a market capitalization of $24.26 billion, a price-to-earnings ratio of 15.08, a price-to-earnings-growth ratio of 1.37 and a beta of 0.13. The company’s 50 day simple moving average is $175.32 and its two-hundred day simple moving average is $152.60. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $190.20. 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 results on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.89 by $0.92. Biogen had a return on equity of 14.13% and a net margin of 15.98%.The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same period in the prior year, the business earned $4.08 earnings per share. The business’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. Analysts expect that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Biogen in a research report on Monday, December 29th. Guggenheim boosted their price objective on Biogen from $165.00 to $185.00 in a research report on Friday, October 31st. HSBC reiterated a “reduce” rating and set a $143.00 target price (down previously from $144.00) on shares of Biogen in a research report on Wednesday, December 10th. Wedbush lifted their target price on shares of Biogen from $135.00 to $143.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Finally, Sanford C. Bernstein upped their price target on shares of Biogen from $157.00 to $197.00 and gave the stock a “market perform” rating in a research report on Friday, January 9th. Ten investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Biogen presently has a consensus rating of “Hold” and an average price target of $190.50.

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.