12,859 Shares in Biogen Inc. $BIIB Acquired by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC purchased a new stake in shares of Biogen Inc. (NASDAQ:BIIB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 12,859 shares of the biotechnology company’s stock, valued at approximately $2,778,000.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in Biogen in the fourth quarter valued at $464,408,000. Boston Partners bought a new stake in shares of Biogen in the 4th quarter valued at about $302,815,000. Deutsche Bank AG acquired a new stake in shares of Biogen in the second quarter valued at about $193,165,000. Fred Alger Management LLC increased its stake 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 buying an additional 796,735 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of Biogen during the second quarter worth about $167,148,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BIIB. Wall Street Zen lowered Biogen from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Guggenheim increased their target price on shares of Biogen from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Zacks Research raised shares of Biogen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. HC Wainwright increased their price target on Biogen from $237.00 to $251.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Citigroup increased their price objective on shares of Biogen from $200.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $227.07.

Biogen Price Performance

BIIB stock opened at $209.15 on Tuesday. The company has a market capitalization of $30.90 billion, a P/E ratio of 37.02, a price-to-earnings-growth ratio of 6.48 and a beta of 0.17. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 1.87. Biogen Inc. has a 52-week low of $131.52 and a 52-week high of $219.72. The business has a 50-day simple moving average of $204.09 and a two-hundred day simple moving average of $193.49.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.66. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same period in the previous year, the company posted $5.47 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Research analysts expect that Biogen Inc. will post 12.5 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.