Gotham Asset Management LLC Has $37.89 Million Position in Biogen Inc. $BIIB

Gotham Asset Management LLC lifted its holdings in Biogen Inc. (NASDAQ:BIIB) by 65.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 270,498 shares of the biotechnology company’s stock after acquiring an additional 107,009 shares during the period. Gotham Asset Management LLC owned approximately 0.18% of Biogen worth $37,891,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fred Alger Management LLC acquired a new stake in Biogen during the third quarter worth approximately $286,000. Focus Partners Wealth increased its holdings in Biogen by 47.8% in the third quarter. Focus Partners Wealth now owns 9,917 shares of the biotechnology company’s stock worth $1,406,000 after purchasing an additional 3,209 shares in the last quarter. Brevan Howard Capital Management LP lifted its stake in Biogen by 149.0% in the third quarter. Brevan Howard Capital Management LP now owns 33,511 shares of the biotechnology company’s stock valued at $4,694,000 after buying an additional 20,055 shares during the period. Capula Management Ltd acquired a new position in Biogen in the third quarter valued at approximately $1,430,000. Finally, Cinctive Capital Management LP boosted its holdings in shares of Biogen by 344.8% during the 3rd quarter. Cinctive Capital Management LP now owns 65,837 shares of the biotechnology company’s stock worth $9,222,000 after buying an additional 51,035 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Performance

Shares of Biogen stock opened at $181.55 on Monday. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $202.41. The company has a quick ratio of 2.03, a current ratio of 2.68 and a debt-to-equity ratio of 0.34. The business has a 50 day moving average price of $184.10 and a 200-day moving average price of $167.19. The company has a market cap of $26.64 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 1.44 and a beta of 0.15.

Biogen (NASDAQ:BIIB) last announced its earnings results on Friday, February 6th. The biotechnology company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.38. Biogen had a return on equity of 12.64% and a net margin of 13.07%.The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the previous year, the firm earned $3.44 earnings per share. Biogen’s quarterly revenue was down 7.2% on a year-over-year basis. Biogen has set its FY 2026 guidance at 15.250-16.250 EPS. Equities analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Biogen news, insider Priya Singhal sold 2,660 shares of Biogen stock in a transaction on Monday, February 9th. The shares were sold at an average price of $199.83, for a total transaction of $531,547.80. Following the transaction, the insider directly owned 8,043 shares of the company’s stock, valued at $1,607,232.69. The trade was a 24.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BIIB. Weiss Ratings reiterated a “hold (c-)” rating on shares of Biogen in a research note on Monday, December 29th. Wolfe Research set a $231.00 target price on shares of Biogen in a research note on Monday, February 9th. HC Wainwright raised their price target on shares of Biogen from $194.00 to $228.00 and gave the stock a “buy” rating in a report on Monday, February 9th. BMO Capital Markets lifted their price target on shares of Biogen from $165.00 to $196.00 and gave the company a “market perform” rating in a research note on Friday, February 6th. Finally, Barclays began coverage on shares of Biogen in a report on Thursday, February 19th. They set an “equal weight” rating and a $185.00 price objective on the stock. Twelve research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat, Biogen currently has an average rating of “Hold” and a consensus target price of $205.04.

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.