Biogen Inc. $BIIB Shares Purchased by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. raised its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 5.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 831,905 shares of the biotechnology company’s stock after purchasing an additional 45,686 shares during the period. Balyasny Asset Management L.P. owned about 0.57% of Biogen worth $104,479,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Elevation Point Wealth Partners LLC bought a new stake in shares of Biogen during the 2nd quarter valued at about $25,000. Rothschild Investment LLC lifted its holdings in Biogen by 64.7% in 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 boosted its stake in Biogen by 100.0% in the second quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 114 shares during the period. NewSquare Capital LLC grew 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 valued at $31,000 after purchasing an additional 140 shares during the last quarter. Finally, Financial Gravity Companies Inc. acquired a new stake in shares of Biogen during the 2nd quarter worth approximately $37,000. 87.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on BIIB shares. Jefferies Financial Group boosted their price objective on Biogen from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, November 28th. HSBC reissued a “reduce” rating and set a $143.00 price target (down previously from $144.00) on shares of Biogen in a report on Wednesday. BMO Capital Markets upped their price target on shares of Biogen from $128.00 to $150.00 in a research report on Friday, October 31st. Guggenheim lifted their price objective on shares of Biogen from $165.00 to $185.00 in a research report on Friday, October 31st. Finally, Needham & Company LLC restated a “hold” rating on shares of Biogen in a research report on Wednesday, September 24th. Ten investment analysts have rated the stock with a Buy rating, fourteen have issued 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 “Hold” and a consensus price target of $182.48.

Biogen Stock Up 0.9%

Biogen stock opened at $174.10 on Friday. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $185.17. The stock has a market cap of $25.54 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 1.45 and a beta of 0.13. The company’s 50-day moving average price is $161.44 and its two-hundred day moving average price is $143.72. The company has a current ratio of 2.72, a quick ratio of 2.04 and a debt-to-equity ratio of 0.35.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $3.89 by $0.92. Biogen had a net margin of 15.98% and a return on equity of 14.13%. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same period in the prior year, the business posted $4.08 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. On average, 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.