21,662 Biogen Inc. $BIIB Shares Purchased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC raised its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 416.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,859 shares of the biotechnology company’s stock after purchasing an additional 21,662 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Biogen were worth $6,067,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Align Financial LLC raised its position in shares of Biogen by 339.3% in the 3rd quarter. Align Financial LLC now owns 123 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 95 shares in the last quarter. Forum Financial Management LP boosted its stake in shares of Biogen by 2.4% during the 3rd quarter. Forum Financial Management LP now owns 1,936 shares of the biotechnology company’s stock valued at $437,000 after buying an additional 46 shares during the last quarter. Kintegral Advisory LLC grew its position in shares of Biogen by 0.6% during the third quarter. Kintegral Advisory LLC now owns 18,048 shares of the biotechnology company’s stock worth $4,077,000 after buying an additional 102 shares in the last quarter. TD Waterhouse Canada Inc. grew its position in shares of Biogen by 313.8% during the third quarter. TD Waterhouse Canada Inc. now owns 2,855 shares of the biotechnology company’s stock worth $645,000 after buying an additional 2,165 shares in the last quarter. Finally, Hanson & Doremus Investment Management increased its stake in shares of Biogen by 55.4% in the third quarter. Hanson & Doremus Investment Management now owns 816 shares of the biotechnology company’s stock worth $184,000 after buying an additional 291 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on BIIB shares. Seaport Research Partners upgraded shares of Biogen to an “outperform” rating in a research note on Monday, October 12th. Truist Financial upgraded shares of Biogen from a “hold” rating to a “buy” rating and increased their price objective for the company from $190.00 to $235.00 in a research note on Monday, July 13th. Morgan Stanley raised their price objective on shares of Biogen from $222.00 to $231.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Jefferies Financial Group reissued a “buy” rating on shares of Biogen in a report on Monday, July 13th. Finally, HC Wainwright boosted their target price on shares of Biogen from $237.00 to $251.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $236.04.

Biogen Trading Down 1.1%

NASDAQ:BIIB opened at $232.65 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 business’s 50 day moving average is $219.97 and its two-hundred day moving average is $203.85. Biogen Inc. has a 52 week low of $138.00 and a 52 week high of $240.99. The company has a market cap of $34.37 billion, a PE ratio of 41.18, a P/E/G ratio of 2.58 and a beta of 0.09.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, topping the consensus estimate of $2.94 by $0.66. Biogen had a return on equity of 11.18% and a net margin of 8.32%. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter last year, the firm earned $5.47 EPS. The business’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. On average, analysts predict that Biogen Inc. will post 12.38 EPS for the current year.

Biogen Profile

Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for serious neurological and neurodegenerative diseases. Its research focuses on conditions including multiple sclerosis, spinal muscular atrophy, Alzheimer’s disease, amyotrophic lateral sclerosis and rare neuromuscular disorders.

Biogen’s products include Spinraza (nusinersen) for spinal muscular atrophy, Tysabri (natalizumab) and Tecfidera (dimethyl fumarate) for multiple sclerosis, Qalsody (tofersen) for a genetically defined form of ALS, and Skyclarys (omaveloxolone) for Friedreich’s ataxia.