Allworth Financial LP Has $1.74 Million Stock Position in Biogen Inc. $BIIB

Allworth Financial LP lifted its position in Biogen Inc. (NASDAQ:BIIB) by 90.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,033 shares of the biotechnology company’s stock after buying an additional 3,822 shares during the period. Allworth Financial LP’s holdings in Biogen were worth $1,736,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Rothschild Investment LLC grew its stake in Biogen by 12.3% in the fourth quarter. Rothschild Investment LLC now owns 513 shares of the biotechnology company’s stock valued at $90,000 after acquiring an additional 56 shares during the period. Wedbush Securities Inc. lifted its holdings in shares of Biogen by 5.1% during the 2nd quarter. Wedbush Securities Inc. now owns 1,164 shares of the biotechnology company’s stock valued at $251,000 after purchasing an additional 56 shares in the last quarter. Meeder Advisory Services Inc. grew 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 valued at $866,000 after purchasing an additional 57 shares during the period. Kera Capital Partners Inc. increased its stake in Biogen by 3.5% during 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 in the last quarter. Finally, Parallel Advisors LLC increased its stake in Biogen by 1.5% during the 1st quarter. Parallel Advisors LLC now owns 4,367 shares of the biotechnology company’s stock worth $801,000 after purchasing an additional 65 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Trading Up 0.8%

NASDAQ:BIIB opened at $217.15 on Friday. The company has a market cap of $32.08 billion, a P/E ratio of 38.43, a price-to-earnings-growth ratio of 2.38 and a beta of 0.17. Biogen Inc. has a twelve month low of $135.39 and a twelve month high of $225.80. The business has a 50 day moving average price of $209.57 and a two-hundred day moving average price of $197.36. The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.39.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on BIIB. Evercore initiated coverage on shares of Biogen in a research note on Friday, May 15th. They issued an “outperform” rating on the stock. Wedbush increased their price objective on shares of Biogen from $201.00 to $215.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. UBS Group raised their price objective on shares of Biogen from $225.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Truist Financial raised shares of Biogen from a “hold” rating to a “buy” rating and boosted their price objective for the company from $190.00 to $235.00 in a research report on Monday, July 13th. Finally, Guggenheim upped their target price on shares of Biogen from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $230.14.

Biogen Profile

Biogen Inc is a biotechnology company focused on discovering, developing and commercializing therapies for neurological and neurodegenerative diseases. Founded in 1978, the company is headquartered in Cambridge, Massachusetts, and serves patients and healthcare providers in markets around the world.

Biogen’s portfolio includes treatments for multiple sclerosis, including Tecfidera, Vumerity, Tysabri, Avonex and Plegridy, as well as Spinraza for spinal muscular atrophy, developed in collaboration with Ionis Pharmaceuticals.