Biogen Inc. $BIIB Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management raised its position in Biogen Inc. (NASDAQ:BIIB) by 23.1% during the first quarter, Holdings Channel reports. The firm owned 34,943 shares of the biotechnology company’s stock after buying an additional 6,568 shares during the quarter. Ritholtz Wealth Management’s holdings in Biogen were worth $6,406,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in BIIB. Friedenthal Financial purchased a new position in shares of Biogen during the first quarter worth $1,087,000. OP Asset Management Ltd purchased a new stake in shares of Biogen in the 1st quarter valued at $2,798,000. Banque Cantonale Vaudoise raised its holdings in shares of Biogen by 129.0% in the 1st quarter. Banque Cantonale Vaudoise now owns 7,928 shares of the biotechnology company’s stock valued at $1,453,000 after buying an additional 4,466 shares during the period. Assenagon Asset Management S.A. lifted its stake in Biogen by 12.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 6,969 shares of the biotechnology company’s stock worth $1,278,000 after acquiring an additional 769 shares in the last quarter. Finally, Cidel Asset Management Inc. boosted its holdings in Biogen by 9.8% during the 1st quarter. Cidel Asset Management Inc. now owns 2,129 shares of the biotechnology company’s stock valued at $390,000 after acquiring an additional 190 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Price Performance

BIIB stock opened at $199.59 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.06 and a quick ratio of 2.41. The firm has a market capitalization of $29.47 billion, a P/E ratio of 21.42 and a beta of 0.20. The business’s 50-day moving average is $192.20 and its two-hundred day moving average is $185.31. Biogen Inc. has a 1 year low of $121.05 and a 1 year high of $205.97.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $2.95 by $0.62. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the previous year, the company posted $3.02 earnings per share. The business’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. Analysts anticipate that Biogen Inc. will post 13.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BIIB shares. Piper Sandler reaffirmed an “overweight” rating and issued a $225.00 target price (up from $214.00) on shares of Biogen in a research report on Friday, May 15th. Guggenheim raised their price objective on shares of Biogen from $246.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Sanford C. Bernstein dropped their price objective on shares of Biogen from $201.00 to $200.00 in a report on Thursday, April 30th. Needham & Company LLC restated a “buy” rating on shares of Biogen in a report on Thursday, June 18th. Finally, Mizuho cut their target price on shares of Biogen from $236.00 to $221.00 and set an “outperform” rating on the stock in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Biogen has an average rating of “Moderate Buy” and a consensus target price of $217.37.

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.