Neuberger Berman Group LLC Boosts Stake in Biogen Inc. $BIIB

Neuberger Berman Group LLC grew its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 61.3% in the 2nd quarter, Holdings Channel reports. The fund owned 11,116 shares of the biotechnology company’s stock after acquiring an additional 4,226 shares during the period. Neuberger Berman Group LLC’s holdings in Biogen were worth $1,396,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Elevation Point Wealth Partners LLC purchased a new position in Biogen in the second quarter valued at about $25,000. Rothschild Investment LLC boosted its stake in shares of Biogen by 64.7% during the 2nd quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 88 shares during the last quarter. Concord Wealth Partners boosted its stake in shares of Biogen by 100.0% during the 2nd quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 114 shares during the last quarter. NewSquare Capital LLC grew its position in shares of Biogen by 134.6% during the second quarter. NewSquare Capital LLC now owns 244 shares of the biotechnology company’s stock worth $31,000 after buying an additional 140 shares in the last quarter. Finally, WFA of San Diego LLC bought a new stake in shares of Biogen in the second quarter worth $32,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Performance

Shares of NASDAQ BIIB opened at $174.10 on Monday. The company has a quick ratio of 2.04, a current ratio of 2.72 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average price is $161.44 and its two-hundred day moving average price is $143.94. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $185.17. The stock has a market capitalization of $25.54 billion, a P/E ratio of 15.87, a P/E/G ratio of 1.46 and a beta of 0.13.

Biogen (NASDAQ:BIIB) last posted its earnings results on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, beating the consensus estimate of $3.89 by $0.92. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.34 billion. Biogen had a return on equity of 14.13% and a net margin of 15.98%.The business’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $4.08 earnings per share. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. As a group, sell-side analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Wall Street Zen downgraded shares of Biogen from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Robert W. Baird decreased their price target on Biogen from $255.00 to $250.00 in a research note on Friday, October 31st. Citigroup reissued a “neutral” rating on shares of Biogen in a report on Wednesday, September 24th. Weiss Ratings restated a “hold (c-)” rating on shares of Biogen in a research note on Monday, December 8th. Finally, Morgan Stanley lifted their target price on Biogen from $149.00 to $156.00 and gave the stock an “equal weight” rating in a research report on Friday. Ten research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Biogen currently has a consensus rating of “Hold” and a consensus price target of $182.48.

About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer’s disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.