Corient Private Wealth LP Takes Position in Biogen Inc. $BIIB

Corient Private Wealth LP bought a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the second quarter, HoldingsChannel reports. The institutional investor bought 163,315 shares of the biotechnology company’s stock, valued at approximately $10,556,000.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Weiss Ratings lowered Biogen from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, August 12th. Guggenheim raised their price target on shares of Biogen from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. UBS Group raised their price target on shares of Biogen from $225.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Mizuho lifted their price target on shares of Biogen from $221.00 to $241.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 4th. Finally, Citigroup upped their price target on shares of Biogen from $200.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $227.79.

Biogen Trading Down 1.4%

Shares of NASDAQ BIIB opened at $218.50 on Friday. The stock’s 50 day moving average price is $207.81 and its two-hundred day moving average price is $195.68. Biogen Inc. has a 52-week low of $131.52 and a 52-week high of $222.85. The stock has a market capitalization of $32.28 billion, a P/E ratio of 38.67, a PEG ratio of 6.81 and a beta of 0.17. The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.39.

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

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.