First Citizens Bank & Trust Co. Acquires New Shares in Biogen Inc. $BIIB

First Citizens Bank & Trust Co. bought a new stake in shares of Biogen Inc. (NASDAQ:BIIB) during the 3rd quarter, HoldingsChannel reports. The firm bought 39,152 shares of the biotechnology company’s stock, valued at approximately $8,844,000.

A number of other institutional investors and hedge funds have also modified their holdings of BIIB. Reflection Asset Management purchased a new position in shares of Biogen in the fourth quarter worth $25,000. Bell Investment Advisors Inc purchased a new position in shares of Biogen in the second quarter worth approximately $27,000. MV Capital Management Inc. purchased a new position in shares of Biogen during the 4th quarter worth $34,000. SHP Wealth Management purchased a new position in shares of Biogen during the 4th quarter worth $39,000. Finally, Cassaday & Co Wealth Management LLC bought a new stake in shares of Biogen during the 1st quarter valued at $40,000. Institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Piper Sandler restated an “overweight” rating and issued a $245.00 price objective (up from $225.00) on shares of Biogen in a research note on Thursday, September 3rd. Needham & Company LLC lifted their target price on Biogen from $255.00 to $256.00 and gave the company a “buy” rating in a research report on Monday, June 29th. TD Cowen lifted their target price on Biogen from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Weiss Ratings raised Biogen from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, September 24th. Finally, Guggenheim upped their price target on Biogen from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $236.04.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $228.90 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.87 and a quick ratio of 1.26. Biogen Inc. has a 1-year low of $138.00 and a 1-year high of $238.24. The company has a market capitalization of $33.82 billion, a P/E ratio of 16.42, a P/E/G ratio of 2.53 and a beta of 0.09. The firm’s 50 day simple moving average is $218.37 and its two-hundred day simple moving average is $203.00.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.94 by $0.66. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The company’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Research analysts expect that Biogen Inc. will post 12.41 EPS for the current fiscal year.

Key Biogen News

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: JPMorgan upgraded Biogen to Overweight from Neutral and raised its price target to $300 from $210. The firm cited an increasingly compelling catalyst path, including expected 2027 clinical readouts for felzartamab and litifilimab. The target implies meaningful upside from recent trading levels. JPMorgan upgrade and price target article
• Positive Sentiment: Litifilimab’s 52-week Phase 2 data in cutaneous lupus erythematosus supported the company’s immunology pipeline. The AMETHYST study showed sustained improvements in skin disease activity and a generally well-tolerated safety profile. FDA Breakthrough Therapy designation further strengthens the drug’s potential, although additional development remains necessary. Litifilimab 52-week data article
• Neutral Sentiment: Citi maintained a Hold rating on Biogen. The stance provides a counterweight to JPMorgan’s upgrade and suggests some analysts believe the recent rally and pipeline optimism may already be reflected in the shares. Citi maintains Hold rating article
• Negative Sentiment: Biogen’s upcoming third-quarter results are expected to show a sharp double-digit EPS decline. This earnings risk is limiting the impact of the bullish pipeline news ahead of the company’s scheduled October 28 report. Biogen quarterly earnings preview article

About Biogen

Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for serious neurological and neurodegenerative diseases. Its research focuses on conditions including multiple sclerosis, spinal muscular atrophy, Alzheimer’s disease, amyotrophic lateral sclerosis and rare neuromuscular disorders.

Biogen’s products include Spinraza (nusinersen) for spinal muscular atrophy, Tysabri (natalizumab) and Tecfidera (dimethyl fumarate) for multiple sclerosis, Qalsody (tofersen) for a genetically defined form of ALS, and Skyclarys (omaveloxolone) for Friedreich’s ataxia.