Cinctive Capital Management LP Cuts Stock Holdings in Biogen Inc. $BIIB

Cinctive Capital Management LP trimmed its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 20.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,173 shares of the biotechnology company’s stock after selling 13,664 shares during the period. Cinctive Capital Management LP’s holdings in Biogen were worth $9,182,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Generali Investments Management Co LLC grew its stake in shares of Biogen by 408.2% in the 3rd quarter. Generali Investments Management Co LLC now owns 9,970 shares of the biotechnology company’s stock worth $1,397,000 after buying an additional 8,008 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Biogen by 1,793.8% in the 4th quarter. SG Americas Securities LLC now owns 183,829 shares of the biotechnology company’s stock worth $32,352,000 after buying an additional 174,122 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Biogen by 12.7% in the 3rd quarter. TD Asset Management Inc now owns 161,195 shares of the biotechnology company’s stock worth $22,580,000 after buying an additional 18,168 shares in the last quarter. K.J. Harrison & Partners Inc purchased a new position in shares of Biogen in the 3rd quarter worth $1,553,000. Finally, Farmers Trust Co. grew its stake in shares of Biogen by 27.8% in the 4th quarter. Farmers Trust Co. now owns 33,185 shares of the biotechnology company’s stock worth $5,840,000 after buying an additional 7,214 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on BIIB. Guggenheim lifted their price objective on shares of Biogen from $246.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. HSBC lifted their price objective on shares of Biogen from $143.00 to $150.00 and gave the stock a “reduce” rating in a research note on Tuesday, March 17th. Sanford C. Bernstein dropped their price objective on shares of Biogen from $201.00 to $200.00 in a research note on Thursday, April 30th. Rothschild & Co Redburn raised their target price on shares of Biogen from $180.00 to $190.00 in a report on Thursday, April 30th. Finally, Truist Financial lowered their target price on shares of Biogen from $193.00 to $189.00 and set a “hold” rating for the company in a report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $216.70.

Biogen Trading Up 1.6%

Shares of BIIB opened at $198.67 on Thursday. Biogen Inc. has a 1-year low of $121.05 and a 1-year high of $205.97. The company has a 50-day moving average of $190.05 and a 200 day moving average of $184.70. The firm has a market capitalization of $29.33 billion, a price-to-earnings ratio of 21.32 and a beta of 0.20. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.06 and a quick ratio of 2.41.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.95 by $0.62. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same quarter last year, the business posted $3.02 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. On average, research analysts expect that Biogen Inc. will post 13.89 EPS for the current 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.