Wellington Management Group LLP Grows Holdings in Biogen Inc. $BIIB

Wellington Management Group LLP grew its position in Biogen Inc. (NASDAQ:BIIB) by 5.3% in the second quarter, HoldingsChannel reports. The fund owned 3,117,469 shares of the biotechnology company’s stock after acquiring an additional 155,828 shares during the quarter. Wellington Management Group LLP’s holdings in Biogen were worth $673,560,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BIIB. BlackRock Inc. acquired a new position in Biogen in the 2nd quarter worth about $3,453,878,000. Orbimed Advisors LLC acquired a new stake in Biogen in the first quarter valued at approximately $11,293,000. LSV Asset Management grew its holdings in Biogen by 3.3% in the fourth quarter. LSV Asset Management now owns 316,815 shares of the biotechnology company’s stock valued at $55,756,000 after purchasing an additional 9,976 shares during the period. Catalyst Funds Management Pty Ltd purchased a new stake in shares of Biogen in the fourth quarter valued at approximately $2,006,000. Finally, Systematic Financial Management LP increased its position in shares of Biogen by 256.3% in the fourth quarter. Systematic Financial Management LP now owns 16,640 shares of the biotechnology company’s stock valued at $2,928,000 after buying an additional 11,970 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Stock Performance

Shares of NASDAQ:BIIB opened at $218.50 on Friday. 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 Inc. has a 1 year low of $131.52 and a 1 year high of $222.85. The firm has a market capitalization of $32.28 billion, a PE ratio of 38.67, a P/E/G ratio of 6.81 and a beta of 0.17. The business’s 50 day moving average price is $207.81 and its 200-day moving average price is $195.68.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, beating the consensus estimate 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 was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, equities research analysts expect that Biogen Inc. will post 12.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BIIB has been the topic of a number of recent analyst reports. Piper Sandler reiterated an “overweight” rating on shares of Biogen in a research report on Tuesday, July 14th. Canaccord Genuity Group upped their price objective on shares of Biogen from $245.00 to $248.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Mizuho upped their price objective on shares of Biogen from $221.00 to $241.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 4th. Wedbush increased their price objective on shares of Biogen from $201.00 to $215.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Finally, Royal Bank Of Canada lifted their target price on shares of Biogen from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $227.79.

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.