Ritholtz Wealth Management Buys 16,695 Shares of Biogen Inc. $BIIB

Ritholtz Wealth Management raised its position in Biogen Inc. (NASDAQ:BIIB) by 142.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 28,375 shares of the biotechnology company’s stock after purchasing an additional 16,695 shares during the quarter. Ritholtz Wealth Management’s holdings in Biogen were worth $4,994,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of BIIB. Orion Porfolio Solutions LLC increased its position in shares of Biogen by 6,828.4% in the second quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company’s stock valued at $64,965,000 after acquiring an additional 509,809 shares during the period. Caisse de depot et placement du Quebec increased its position in shares of Biogen by 718.2% during the third quarter. Caisse de depot et placement du Quebec now owns 569,253 shares of the biotechnology company’s stock valued at $79,741,000 after buying an additional 499,676 shares during the period. AQR Capital Management LLC increased its position in shares of Biogen by 30.7% during the third quarter. AQR Capital Management LLC now owns 1,783,581 shares of the biotechnology company’s stock valued at $248,809,000 after buying an additional 418,776 shares during the period. Alyeska Investment Group L.P. increased its position in shares of Biogen by 66.1% during the third quarter. Alyeska Investment Group L.P. now owns 845,277 shares of the biotechnology company’s stock valued at $118,406,000 after buying an additional 336,504 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Biogen by 425.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 348,404 shares of the biotechnology company’s stock valued at $48,804,000 after buying an additional 282,084 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BIIB. Royal Bank Of Canada reduced their price target on shares of Biogen from $233.00 to $213.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. Piper Sandler boosted their price target on shares of Biogen from $157.00 to $177.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. HC Wainwright boosted their price target on shares of Biogen from $228.00 to $237.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. BMO Capital Markets boosted their price target on shares of Biogen from $165.00 to $196.00 and gave the company a “market perform” rating in a research report on Friday, February 6th. Finally, Mizuho boosted their price target on shares of Biogen from $207.00 to $236.00 and gave the company an “outperform” rating in a research report on Tuesday, February 10th. Twelve analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Biogen currently has an average rating of “Hold” and an average price target of $207.92.

Insider Activity

In other news, insider Priya Singhal sold 2,660 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $199.83, for a total value of $531,547.80. Following the transaction, the insider owned 8,043 shares in the company, valued at approximately $1,607,232.69. This represents a 24.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.18% of the company’s stock.

Biogen Price Performance

Shares of BIIB opened at $172.97 on Friday. The stock has a market cap of $25.39 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 2.31 and a beta of 0.16. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.03 and a current ratio of 2.68. Biogen Inc. has a fifty-two week low of $112.18 and a fifty-two week high of $202.41. The firm’s 50-day simple moving average is $186.59 and its two-hundred day simple moving average is $172.70.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Friday, February 6th. The biotechnology company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.38. The business had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Biogen had a net margin of 13.07% and a return on equity of 12.64%. The business’s revenue was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.44 earnings per share. Biogen has set its FY 2026 guidance at 15.250-16.250 EPS. Analysts anticipate that Biogen Inc. will post 15.83 earnings per share 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.