Patient Capital Management LLC Acquires 76,183 Shares of Biogen Inc. $BIIB

Patient Capital Management LLC boosted its holdings in Biogen Inc. (NASDAQ:BIIB) by 23.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 396,649 shares of the biotechnology company’s stock after purchasing an additional 76,183 shares during the period. Biogen comprises about 2.2% of Patient Capital Management LLC’s portfolio, making the stock its 22nd largest holding. Patient Capital Management LLC’s holdings in Biogen were worth $55,563,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Joel Isaacson & Co. LLC acquired a new stake in shares of Biogen in the third quarter valued at about $233,000. Sage Mountain Advisors LLC bought a new stake in shares of Biogen during the 3rd quarter worth approximately $335,000. QTR Family Wealth LLC acquired a new stake in shares of Biogen in the 3rd quarter valued at approximately $247,000. Horizon Bancorp Inc. IN grew its stake in shares of Biogen by 61.5% in the third quarter. Horizon Bancorp Inc. IN now owns 1,027 shares of the biotechnology company’s stock valued at $144,000 after buying an additional 391 shares in the last quarter. Finally, Allstate Corp acquired a new position in Biogen during the third quarter worth $658,000. 87.93% of the stock is owned by institutional investors.

Biogen Stock Up 0.6%

BIIB opened at $165.38 on Wednesday. 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 stock has a fifty day moving average of $175.32 and a 200-day moving average of $152.60. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $190.20. The company has a market capitalization of $24.26 billion, a P/E ratio of 15.08, a P/E/G ratio of 1.37 and a beta of 0.13.

Biogen (NASDAQ:BIIB) last released 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 business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.34 billion. Biogen had a net margin of 15.98% and a return on equity of 14.13%. Biogen’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm earned $4.08 earnings per share. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. On average, equities analysts expect that Biogen Inc. will post 15.83 EPS for the current year.

Wall Street Analyst Weigh In

BIIB has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of Biogen from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. Mizuho raised their target price on shares of Biogen from $177.00 to $207.00 and gave the company an “outperform” rating in a research note on Thursday, January 8th. BMO Capital Markets lifted their price target on Biogen from $150.00 to $165.00 and gave the stock a “market perform” rating in a report on Thursday, December 18th. Weiss Ratings reissued a “hold (c-)” rating on shares of Biogen in a research report on Monday, December 29th. Finally, Citigroup raised their price objective on Biogen from $153.00 to $180.00 and gave the company a “neutral” rating in a research report on Wednesday, January 7th. Ten research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $190.50.

Biogen Company 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.