Tocqueville Asset Management L.P. Makes New Investment in Biogen Inc. $BIIB

Tocqueville Asset Management L.P. acquired a new stake in Biogen Inc. (NASDAQ:BIIB) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 4,486 shares of the biotechnology company’s stock, valued at approximately $969,000.

A number of other hedge funds have also modified their holdings of the stock. Reflection Asset Management bought a new position in shares of Biogen during the 4th quarter worth approximately $25,000. WPG Advisers LLC grew its position 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 acquiring an additional 117 shares during the period. Bell Investment Advisors Inc acquired a new position in Biogen during the second quarter worth $27,000. First Horizon Corp bought a new position in shares of Biogen during the fourth quarter valued at $30,000. Finally, WFA of San Diego LLC bought a new position in shares of Biogen during the second quarter valued at $32,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. TD Cowen upped their target price on shares of Biogen from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Barclays lifted their price target on shares of Biogen from $185.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, July 29th. Evercore initiated coverage on shares of Biogen in a research note on Friday, May 15th. They set an “outperform” rating on the stock. Rothschild & Co Redburn raised their price objective on shares of Biogen from $180.00 to $190.00 in a report on Thursday, April 30th. Finally, Guggenheim lifted their target price on shares of Biogen from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and a consensus price target of $227.07.

Biogen Stock Down 3.3%

Shares of NASDAQ:BIIB opened at $214.35 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.39. The firm has a market cap of $31.67 billion, a P/E ratio of 37.94, a P/E/G ratio of 6.90 and a beta of 0.17. Biogen Inc. has a 12 month low of $131.52 and a 12 month high of $222.15. The company’s 50-day moving average price is $205.20 and its two-hundred day moving average price is $194.32.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.94 by $0.66. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The company 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 firm posted $5.47 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, research analysts forecast that Biogen Inc. will post 12.39 EPS for the current fiscal 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.