Wealthfront Advisers LLC Makes New $3.57 Million Investment in Biogen Inc. $BIIB

Wealthfront Advisers LLC purchased a new stake in Biogen Inc. (NASDAQ:BIIB) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 16,529 shares of the biotechnology company’s stock, valued at approximately $3,571,000.

Several other institutional investors have also added to or reduced their stakes in BIIB. Rothschild Investment LLC increased its position in Biogen by 12.3% during the 4th quarter. Rothschild Investment LLC now owns 513 shares of the biotechnology company’s stock valued at $90,000 after purchasing an additional 56 shares during the period. Meeder Advisory Services Inc. lifted its position in shares of Biogen by 1.2% in the 1st quarter. Meeder Advisory Services Inc. now owns 4,721 shares of the biotechnology company’s stock worth $866,000 after purchasing an additional 57 shares during the period. Kera Capital Partners Inc. lifted its position in shares of Biogen by 3.5% in the 1st quarter. Kera Capital Partners Inc. now owns 1,723 shares of the biotechnology company’s stock worth $316,000 after purchasing an additional 58 shares during the period. Parallel Advisors LLC boosted its stake in shares of Biogen by 1.5% in the 1st quarter. Parallel Advisors LLC now owns 4,367 shares of the biotechnology company’s stock valued at $801,000 after purchasing an additional 65 shares during the last quarter. Finally, Itau Unibanco Holding S.A. boosted its stake in shares of Biogen by 24.4% in the 4th quarter. Itau Unibanco Holding S.A. now owns 337 shares of the biotechnology company’s stock valued at $59,000 after purchasing an additional 66 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BIIB has been the subject of a number of analyst reports. Jefferies Financial Group reissued a “buy” rating on shares of Biogen in a research note on Monday, July 13th. Sanford C. Bernstein decreased their price target on Biogen from $201.00 to $200.00 in a report on Thursday, April 30th. Cantor Fitzgerald reissued an “overweight” rating on shares of Biogen in a research report on Monday, June 22nd. Wolfe Research raised Biogen from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research note on Thursday, August 13th. Finally, Guggenheim boosted their target price on shares of Biogen from $260.00 to $280.00 and gave the company a “buy” rating in a research report 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $227.07.

Biogen Price Performance

BIIB stock opened at $214.35 on Friday. The company has a market capitalization of $31.67 billion, a P/E ratio of 37.94, a price-to-earnings-growth ratio of 6.90 and a beta of 0.17. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 1.87. Biogen Inc. has a 52-week low of $131.52 and a 52-week high of $222.15. The business has a 50-day simple moving average of $205.20 and a two-hundred day simple moving average of $194.32.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.66. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.46 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Research analysts expect that Biogen Inc. will post 12.39 EPS for the current fiscal year.

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.