Plato Investment Management Ltd Invests $1.49 Million in Biogen Inc. $BIIB

Plato Investment Management Ltd bought a new stake in Biogen Inc. (NASDAQ:BIIB) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 6,938 shares of the biotechnology company’s stock, valued at approximately $1,490,000.

Several other hedge funds have also bought and sold shares of the company. Reflection Asset Management bought a new position in Biogen during the fourth quarter worth about $25,000. WPG Advisers LLC raised its stake in Biogen by 417.9% in the fourth quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock valued at $26,000 after buying an additional 117 shares during the period. Bell Investment Advisors Inc acquired a new stake in shares of Biogen in the second quarter valued at approximately $27,000. First Horizon Corp acquired a new stake in shares of Biogen in the fourth quarter valued at approximately $30,000. Finally, WFA of San Diego LLC bought a new position in shares of Biogen during the 2nd quarter worth approximately $32,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $209.15 on Tuesday. The firm has a market cap of $30.90 billion, a P/E ratio of 37.02, a price-to-earnings-growth ratio of 6.48 and a beta of 0.17. The business’s 50 day moving average is $204.09 and its 200-day moving average is $193.49. The company has a current ratio of 1.87, a quick ratio of 1.26 and a debt-to-equity ratio of 0.39. Biogen Inc. has a 1-year low of $131.52 and a 1-year high of $219.72.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.66. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the previous year, the company posted $5.47 EPS. 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. Equities research analysts predict that Biogen Inc. will post 12.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BIIB has been the topic of a number of recent analyst reports. Freedom Capital raised Biogen from a “hold” rating to a “strong-buy” rating in a report on Friday, May 1st. Zacks Research raised Biogen from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. Guggenheim lifted their price objective on shares of Biogen from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Rothschild & Co Redburn upped their price objective on shares of Biogen from $180.00 to $190.00 in a report on Thursday, April 30th. Finally, Bank of America dropped their price objective on shares of Biogen from $217.00 to $215.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Biogen has an average rating of “Moderate Buy” and a consensus price target of $227.07.

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.