Tidal Investments LLC Acquires 5,256 Shares of Biogen Inc. $BIIB

Tidal Investments LLC raised its holdings in Biogen Inc. (NASDAQ:BIIB) by 9.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 63,842 shares of the biotechnology company’s stock after buying an additional 5,256 shares during the quarter. Tidal Investments LLC’s holdings in Biogen were worth $13,794,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its holdings in shares of Biogen by 64.9% during the first quarter. Empowered Funds LLC now owns 7,054 shares of the biotechnology company’s stock worth $965,000 after buying an additional 2,777 shares during the last quarter. Focus Partners Wealth increased its position in Biogen by 172.2% during the first quarter. Focus Partners Wealth now owns 10,173 shares of the biotechnology company’s stock worth $1,392,000 after acquiring an additional 6,436 shares during the period. Sivia Capital Partners LLC acquired a new position in Biogen during the 2nd quarter valued at $216,000. Cerity Partners LLC boosted its holdings in Biogen by 15.3% in the 2nd quarter. Cerity Partners LLC now owns 46,552 shares of the biotechnology company’s stock valued at $5,847,000 after purchasing an additional 6,184 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in Biogen by 13.4% in the 2nd quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company’s stock valued at $336,000 after purchasing an additional 316 shares during the period. 87.93% of the stock is owned by institutional investors.

Biogen Trading Up 0.8%

Shares of NASDAQ BIIB opened at $217.15 on Friday. Biogen Inc. has a fifty-two week low of $135.39 and a fifty-two week high of $225.80. The firm has a market capitalization of $32.08 billion, a P/E ratio of 38.43, a P/E/G ratio of 2.38 and a beta of 0.17. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.87 and a quick ratio of 1.26. The company’s 50 day simple moving average is $209.57 and its 200 day simple moving average is $197.36.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.66. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the previous year, the business earned $5.47 EPS. The firm’s revenue was up 3.4% on a year-over-year basis. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, analysts predict that Biogen Inc. will post 12.39 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on BIIB. Morgan Stanley raised their price target on shares of Biogen from $222.00 to $231.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Zacks Research upgraded shares of Biogen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Cantor Fitzgerald reissued an “overweight” rating on shares of Biogen in a research report on Monday, June 22nd. HC Wainwright boosted their price target on Biogen from $237.00 to $251.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings downgraded Biogen from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Biogen currently has a consensus rating of “Moderate Buy” and a consensus target price of $230.14.

Biogen Profile

Biogen Inc is a biotechnology company focused on discovering, developing and commercializing therapies for neurological and neurodegenerative diseases. Founded in 1978, the company is headquartered in Cambridge, Massachusetts, and serves patients and healthcare providers in markets around the world.

Biogen’s portfolio includes treatments for multiple sclerosis, including Tecfidera, Vumerity, Tysabri, Avonex and Plegridy, as well as Spinraza for spinal muscular atrophy, developed in collaboration with Ionis Pharmaceuticals.