Federated Hermes Inc. Acquires 17,069 Shares of Biogen Inc. $BIIB

Federated Hermes Inc. raised its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 16.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,277 shares of the biotechnology company’s stock after purchasing an additional 17,069 shares during the quarter. Federated Hermes Inc. owned approximately 0.08% of Biogen worth $15,106,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Elevation Point Wealth Partners LLC acquired a new stake in shares of Biogen during the 2nd quarter worth about $25,000. Zions Bancorporation National Association UT bought a new position in Biogen in the 1st quarter valued at about $29,000. Rothschild Investment LLC lifted its position in Biogen by 64.7% during the second quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 88 shares during the last quarter. Concord Wealth Partners lifted its position in Biogen by 100.0% during the second quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 114 shares during the last quarter. Finally, NewSquare Capital LLC boosted its holdings in shares of Biogen by 134.6% during the second quarter. NewSquare Capital LLC now owns 244 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 140 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BIIB. Piper Sandler reiterated a “neutral” rating and set a $157.00 target price (up previously from $118.00) on shares of Biogen in a research note on Friday, November 21st. Mizuho upped their price objective on Biogen from $169.00 to $177.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Stifel Nicolaus upgraded Biogen from a “hold” rating to a “buy” rating and increased their price objective for the stock from $144.00 to $202.00 in a research report on Thursday, November 6th. William Blair reissued an “outperform” rating on shares of Biogen in a research report on Wednesday, September 24th. Finally, Morgan Stanley raised their price target on shares of Biogen from $144.00 to $149.00 and gave the stock an “equal weight” rating in a research report on Friday, October 10th. Ten investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $182.20.

Biogen Stock Performance

BIIB opened at $177.55 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.04 and a current ratio of 2.72. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $185.17. The firm has a market cap of $26.05 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 1.48 and a beta of 0.13. The business’s fifty day moving average is $160.81 and its 200-day moving average is $143.18.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share for the quarter, topping the consensus estimate of $3.89 by $0.92. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Biogen had a net margin of 15.98% and a return on equity of 14.13%. Biogen’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.08 earnings per share. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. Sell-side analysts expect that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer’s disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.