Pitcairn Co. Makes New $936,000 Investment in Biogen Inc. $BIIB

Pitcairn Co. acquired a new stake in shares of Biogen Inc. (NASDAQ:BIIB) during the second quarter, Holdings Channel reports. The fund acquired 7,454 shares of the biotechnology company’s stock, valued at approximately $936,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Generali Investments CEE investicni spolecnost a.s. boosted its position in Biogen by 43.2% during the 2nd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 38,755 shares of the biotechnology company’s stock valued at $4,867,000 after buying an additional 11,695 shares during the period. Valeo Financial Advisors LLC bought a new position in shares of Biogen during the second quarter valued at about $225,000. Privium Fund Management B.V. purchased a new stake in shares of Biogen during the second quarter worth about $2,666,000. Nordea Investment Management AB boosted its holdings in shares of Biogen by 5.7% during the second quarter. Nordea Investment Management AB now owns 125,935 shares of the biotechnology company’s stock worth $15,810,000 after purchasing an additional 6,811 shares during the period. Finally, Point72 Europe London LLP bought a new stake in shares of Biogen in the first quarter worth about $11,286,000. Institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $175.74 on Tuesday. The company has a 50 day simple moving average of $161.87 and a two-hundred day simple moving average of $144.24. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $185.17. The company has a market capitalization of $25.78 billion, a price-to-earnings ratio of 16.02, a P/E/G ratio of 1.46 and a beta of 0.13. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.04 and a current ratio of 2.72.

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

Wall Street Analysts Forecast Growth

BIIB has been the subject of a number of recent analyst reports. William Blair reaffirmed an “outperform” rating on shares of Biogen in a research report on Wednesday, September 24th. Hsbc Global Res downgraded Biogen from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 10th. Piper Sandler reiterated a “neutral” rating and issued a $157.00 price target (up previously from $118.00) on shares of Biogen in a report on Friday, November 21st. Stifel Nicolaus raised shares of Biogen from a “hold” rating to a “buy” rating and boosted their price objective for the company from $144.00 to $202.00 in a research report on Thursday, November 6th. Finally, Robert W. Baird dropped their target price on shares of Biogen from $255.00 to $250.00 in a research report on Friday, October 31st. Ten analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $182.48.

Biogen Company Profile

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.