Citizens Financial Group Inc. RI Takes Position in Biogen Inc. $BIIB

Citizens Financial Group Inc. RI acquired a new stake in Biogen Inc. (NASDAQ:BIIB) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,282 shares of the biotechnology company’s stock, valued at approximately $709,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Empowered Funds LLC raised its holdings in shares of Biogen by 64.9% in the 1st quarter. Empowered Funds LLC now owns 7,054 shares of the biotechnology company’s stock valued at $965,000 after purchasing an additional 2,777 shares in the last quarter. Focus Partners Wealth lifted its position in shares of Biogen by 172.2% in the 1st quarter. Focus Partners Wealth now owns 10,173 shares of the biotechnology company’s stock worth $1,392,000 after purchasing an additional 6,436 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Biogen during the second quarter valued at approximately $216,000. Cerity Partners LLC boosted its stake in shares of Biogen by 15.3% during the second 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 in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in Biogen by 13.4% during the second quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company’s stock valued at $336,000 after buying an additional 316 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Stock Up 4.2%

Shares of Biogen stock opened at $221.56 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.39. The company has a market cap of $32.74 billion, a P/E ratio of 39.21, a PEG ratio of 6.62 and a beta of 0.17. The firm’s 50 day moving average price is $204.91 and its 200-day moving average price is $194.08. Biogen Inc. has a 52-week low of $131.52 and a 52-week high of $222.15.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BIIB shares. Citigroup boosted their price objective on shares of Biogen from $200.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Wolfe Research raised Biogen from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a research report on Thursday, August 13th. Guggenheim lifted their price target on Biogen from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Sanford C. Bernstein reduced their price target on Biogen from $201.00 to $200.00 in a research report on Thursday, April 30th. Finally, UBS Group upped their price objective on Biogen from $225.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $227.07.

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.