Parallax Volatility Advisers L.P. Acquires New Position in Biogen Inc. $BIIB

Parallax Volatility Advisers L.P. bought a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the 2nd quarter, Holdings Channel reports. The firm bought 2,291 shares of the biotechnology company’s stock, valued at approximately $495,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Biogen during the second quarter worth $3,453,878,000. Orbimed Advisors LLC acquired a new position in Biogen in the first quarter valued at $11,293,000. LSV Asset Management lifted its position in Biogen by 3.3% during the fourth quarter. LSV Asset Management now owns 316,815 shares of the biotechnology company’s stock worth $55,756,000 after buying an additional 9,976 shares during the period. Catalyst Funds Management Pty Ltd purchased a new position in Biogen during the fourth quarter worth about $2,006,000. Finally, Systematic Financial Management LP boosted its stake in Biogen by 256.3% in the 4th quarter. Systematic Financial Management LP now owns 16,640 shares of the biotechnology company’s stock worth $2,928,000 after buying an additional 11,970 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on BIIB shares. Sanford C. Bernstein lowered their price target on Biogen from $201.00 to $200.00 in a report on Thursday, April 30th. Oppenheimer reissued an “outperform” rating and issued a $300.00 target price on shares of Biogen in a research report on Wednesday, July 29th. Jefferies Financial Group restated a “buy” rating on shares of Biogen in a report on Monday, July 13th. Zacks Research raised shares of Biogen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, Evercore initiated coverage on Biogen in a report on Friday, May 15th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $227.79.

Biogen Stock Performance

NASDAQ:BIIB opened at $221.07 on Thursday. The firm’s fifty day simple moving average is $206.87 and its 200 day simple moving average is $195.38. The company has a current ratio of 1.87, a quick ratio of 1.26 and a debt-to-equity ratio of 0.39. Biogen Inc. has a twelve month low of $131.52 and a twelve month high of $222.85. The firm has a market capitalization of $32.66 billion, a price-to-earnings ratio of 39.13, a PEG ratio of 6.88 and a beta of 0.17.

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 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 the consensus estimate of $2.46 billion. During the same period in the prior year, the firm earned $5.47 EPS. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, equities research analysts expect that Biogen Inc. will post 12.39 earnings per share for the current fiscal year.

Biogen 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.