Stoneridge Investment Partners LLC Buys Shares of 3,414 Biogen Inc. $BIIB

Stoneridge Investment Partners LLC bought a new position in Biogen Inc. (NASDAQ:BIIB) in the 2nd quarter, HoldingsChannel reports. The fund bought 3,414 shares of the biotechnology company’s stock, valued at approximately $693,000.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Biogen during the fourth quarter valued at approximately $464,408,000. Boston Partners acquired a new position in shares of Biogen during the fourth quarter worth approximately $302,815,000. Fred Alger Management LLC grew its holdings in Biogen by 39,074.8% in the 4th quarter. Fred Alger Management LLC now owns 798,774 shares of the biotechnology company’s stock worth $140,576,000 after buying an additional 796,735 shares in the last quarter. Employees Provident Fund Board bought a new position in Biogen in the 4th quarter worth approximately $123,931,000. Finally, Orion Porfolio Solutions LLC increased its position in Biogen by 6,828.4% in the 2nd 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. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Price Performance

NASDAQ BIIB opened at $209.83 on Friday. Biogen Inc. has a 12 month low of $131.52 and a 12 month high of $219.72. The firm has a market capitalization of $31.00 billion, a PE ratio of 37.14, a P/E/G ratio of 6.48 and a beta of 0.17. The company’s 50 day simple moving average is $203.76 and its 200 day simple moving average is $193.10. 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 (NASDAQ:BIIB) last released its 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 firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.46 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, equities research analysts forecast that Biogen Inc. will post 12.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BIIB. Citigroup lifted their target price on Biogen from $200.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Freedom Capital raised Biogen from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 1st. Bank of America lowered their price target on Biogen from $217.00 to $215.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Cantor Fitzgerald restated an “overweight” rating on shares of Biogen in a research note on Monday, June 22nd. Finally, Sanford C. Bernstein cut their price objective on shares of Biogen from $201.00 to $200.00 in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $227.07.

Biogen Profile

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.