Biogen Inc. (NASDAQ:BIIB) Short Interest Update

Biogen Inc. (NASDAQ:BIIB) was the target of a large decrease in short interest during the month of December. As of December 31st, there was short interest totaling 4,466,337 shares, a decrease of 32.2% from the December 15th total of 6,590,958 shares. Based on an average daily trading volume, of 2,674,703 shares, the short-interest ratio is currently 1.7 days. Currently, 3.0% of the shares of the company are sold short. Currently, 3.0% of the shares of the company are sold short. Based on an average daily trading volume, of 2,674,703 shares, the short-interest ratio is currently 1.7 days.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BIIB shares. Citigroup upped their target price on Biogen from $153.00 to $180.00 and gave the company a “neutral” rating in a research report on Wednesday, January 7th. Wall Street Zen cut shares of Biogen from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Truist Financial lifted their price target on shares of Biogen from $142.00 to $190.00 and gave the company a “hold” rating in a research report on Thursday, January 8th. UBS Group assumed coverage on Biogen in a research note on Tuesday, January 6th. They issued a “neutral” rating and a $185.00 price target for the company. Finally, William Blair restated an “outperform” rating on shares of Biogen in a research note on Wednesday, September 24th. Ten research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $190.50.

Institutional Investors Weigh In On Biogen

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Biogen by 51.4% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,218 shares of the biotechnology company’s stock valued at $390,000 after acquiring an additional 753 shares during the last quarter. Burns Matteson Capital Management LLC bought a new position in Biogen during the 4th quarter worth approximately $690,000. Econ Financial Services Corp acquired a new position in shares of Biogen in the 4th quarter worth approximately $694,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Biogen by 3.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 7,286 shares of the biotechnology company’s stock valued at $1,296,000 after purchasing an additional 264 shares during the last quarter. Finally, Lineweaver Wealth Advisors LLC increased its position in shares of Biogen by 96.4% during the fourth quarter. Lineweaver Wealth Advisors LLC now owns 4,338 shares of the biotechnology company’s stock worth $763,000 after buying an additional 2,129 shares during the period. 87.93% of the stock is owned by institutional investors.

Biogen Trading Down 0.4%

Shares of BIIB stock opened at $168.57 on Friday. Biogen has a fifty-two week low of $110.04 and a fifty-two week high of $190.20. The stock’s fifty day moving average price is $174.86 and its two-hundred day moving average price is $151.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.04 and a current ratio of 2.72. The company has a market cap of $24.73 billion, a PE ratio of 15.37, a P/E/G ratio of 1.41 and a beta of 0.13.

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

About Biogen

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.