Suvretta Capital Management LLC Purchases 16,300 Shares of Biogen Inc. $BIIB

Suvretta Capital Management LLC grew its position in shares of Biogen Inc. (NASDAQ:BIIB) by 10.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 168,190 shares of the biotechnology company’s stock after buying an additional 16,300 shares during the quarter. Suvretta Capital Management LLC’s holdings in Biogen were worth $23,560,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BIIB. iSAM Funds UK Ltd increased its position in shares of Biogen by 279.9% during the third quarter. iSAM Funds UK Ltd now owns 17,191 shares of the biotechnology company’s stock valued at $2,408,000 after acquiring an additional 12,666 shares during the last quarter. NorthRock Partners LLC boosted its position in Biogen by 15.4% in the third quarter. NorthRock Partners LLC now owns 3,596 shares of the biotechnology company’s stock worth $504,000 after purchasing an additional 480 shares during the last quarter. Harvest Fund Management Co. Ltd grew its stake in Biogen by 8.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 8,998 shares of the biotechnology company’s stock valued at $1,260,000 after purchasing an additional 679 shares during the period. Comerica Bank increased its position in shares of Biogen by 59.5% during the 3rd quarter. Comerica Bank now owns 33,670 shares of the biotechnology company’s stock valued at $4,716,000 after purchasing an additional 12,561 shares during the last quarter. Finally, Pathstone Holdings LLC raised its stake in shares of Biogen by 12.0% during the 3rd quarter. Pathstone Holdings LLC now owns 12,984 shares of the biotechnology company’s stock worth $1,819,000 after purchasing an additional 1,387 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

BIIB has been the topic of a number of research analyst reports. TD Cowen boosted their price target on shares of Biogen from $175.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 9th. HSBC reaffirmed a “reduce” rating and issued a $143.00 price objective (down from $144.00) on shares of Biogen in a research report on Wednesday, December 10th. Canaccord Genuity Group boosted their target price on shares of Biogen from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Guggenheim raised their price target on shares of Biogen from $185.00 to $246.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Finally, Piper Sandler lifted their price target on shares of Biogen from $157.00 to $177.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Twelve investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $205.04.

Insider Buying and Selling

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

Biogen Trading Down 1.8%

Shares of Biogen stock opened at $181.55 on Friday. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $202.41. The stock’s 50-day simple moving average is $184.10 and its 200 day simple moving average is $166.76. The stock has a market capitalization of $26.64 billion, a P/E ratio of 20.61, a P/E/G ratio of 1.47 and a beta of 0.15. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.03 and a current ratio of 2.68.

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