Biogen Inc. $BIIB Shares Bought by Sterling Capital Management LLC

Sterling Capital Management LLC increased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 1,449.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 74,522 shares of the biotechnology company’s stock after acquiring an additional 69,712 shares during the quarter. Sterling Capital Management LLC’s holdings in Biogen were worth $16,833,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Biogen in the second quarter valued at approximately $3,453,878,000. Primecap Management Co. CA acquired a new position in shares of Biogen in the 2nd quarter worth approximately $3,274,304,000. Wellington Management Group LLP lifted its holdings in shares of Biogen by 5.3% in the 2nd quarter. Wellington Management Group LLP now owns 3,117,469 shares of the biotechnology company’s stock worth $673,560,000 after acquiring an additional 155,828 shares during the last quarter. Amundi lifted its holdings in shares of Biogen by 91.8% in the 2nd quarter. Amundi now owns 1,516,831 shares of the biotechnology company’s stock worth $327,727,000 after acquiring an additional 726,004 shares during the last quarter. Finally, Legal & General Group Plc purchased a new position in shares of Biogen during the 2nd quarter worth approximately $322,640,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on BIIB. UBS Group lifted their target price on shares of Biogen from $240.00 to $270.00 and gave the company a “buy” rating in a report on Friday, October 9th. Bank of America raised their price target on Biogen from $219.00 to $244.00 and gave the stock a “neutral” rating in a research report on Thursday. HSBC lifted their price objective on Biogen from $165.00 to $175.00 and gave the company a “reduce” rating in a research note on Thursday, September 10th. Citigroup raised their target price on Biogen from $200.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Finally, Canaccord Genuity Group boosted their price target on shares of Biogen from $245.00 to $248.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Biogen has an average rating of “Moderate Buy” and an average target price of $241.89.

Biogen Stock Down 1.2%

Shares of BIIB stock traded down $3.15 during trading hours on Friday, reaching $250.69. 1,157,351 shares of the stock were exchanged, compared to its average volume of 1,296,961. The business’s fifty day moving average is $223.60 and its two-hundred day moving average is $206.04. 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 12-month low of $138.00 and a 12-month high of $254.41. The firm has a market capitalization of $37.04 billion, a P/E ratio of 44.37, a P/E/G ratio of 2.83 and a beta of 0.09.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.94 by $0.66. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the firm earned $5.47 earnings per share. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, research analysts expect that Biogen Inc. will post 12.29 EPS for the current fiscal year.

Biogen Profile

Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for neurological and neurodegenerative diseases. Its areas of focus include multiple sclerosis, Alzheimer’s disease, spinal muscular atrophy, amyotrophic lateral sclerosis and other serious medical conditions.

The company’s portfolio includes multiple sclerosis treatments such as Tecfidera, Vumerity, Tysabri, Plegridy and Avonex, as well as Spinraza for spinal muscular atrophy. Biogen also markets Leqembi, an Alzheimer’s disease treatment developed in collaboration with Eisai, and works with partners to advance additional therapies and biosimilars.

Biogen was founded in 1978 and is headquartered in Cambridge, Massachusetts.