Massachusetts Financial Services Co. MA Purchases 11,685 Shares of Biogen Inc. $BIIB

Massachusetts Financial Services Co. MA raised its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 729,316 shares of the biotechnology company’s stock after purchasing an additional 11,685 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.50% of Biogen worth $102,163,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Biogen during the second quarter worth about $284,358,000. Orion Porfolio Solutions LLC boosted its stake in Biogen by 6,828.4% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company’s stock valued at $64,965,000 after purchasing an additional 509,809 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Biogen by 190.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 624,371 shares of the biotechnology company’s stock worth $78,415,000 after purchasing an additional 409,591 shares in the last quarter. AustralianSuper Pty Ltd raised its stake in shares of Biogen by 85.9% in the second quarter. AustralianSuper Pty Ltd now owns 739,416 shares of the biotechnology company’s stock worth $92,863,000 after purchasing an additional 341,719 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Biogen by 1.5% in the second quarter. Vanguard Group Inc. now owns 17,290,651 shares of the biotechnology company’s stock valued at $2,171,533,000 after purchasing an additional 257,812 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Biogen in a report on Monday, December 29th. Mizuho raised their price target on shares of Biogen from $177.00 to $207.00 and gave the company an “outperform” rating in a research report on Thursday, January 8th. Stifel Nicolaus upgraded shares of Biogen from a “hold” rating to a “buy” rating and boosted their price target for the stock from $144.00 to $202.00 in a report on Thursday, November 6th. Wedbush increased their price objective on shares of Biogen from $135.00 to $143.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Finally, Guggenheim lifted their target price on shares of Biogen from $165.00 to $185.00 in a research report on Friday, October 31st. Ten investment 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 data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $190.50.

Biogen Stock Performance

Shares of BIIB stock 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 firm has a market cap of $24.26 billion, a price-to-earnings ratio of 15.08, a P/E/G ratio of 1.37 and a beta of 0.13. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $190.20. The firm’s 50-day simple moving average is $175.32 and its two-hundred day simple moving average is $152.60.

Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.92. Biogen had a net margin of 15.98% and a return on equity of 14.13%. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the prior year, the firm earned $4.08 EPS. The company’s revenue was up 2.8% compared to the same quarter last year. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. As a group, equities analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current 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.