Corient Private Wealth LLC Acquires 4,540 Shares of Biogen Inc. $BIIB

Corient Private Wealth LLC boosted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 15.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,331 shares of the biotechnology company’s stock after acquiring an additional 4,540 shares during the quarter. Corient Private Wealth LLC’s holdings in Biogen were worth $4,312,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Biogen by 1.5% during the second quarter. Vanguard Group Inc. now owns 17,290,651 shares of the biotechnology company’s stock valued at $2,171,533,000 after acquiring an additional 257,812 shares during the last quarter. State Street Corp increased its holdings in Biogen by 1.0% in the second quarter. State Street Corp now owns 7,468,807 shares of the biotechnology company’s stock valued at $938,007,000 after purchasing an additional 71,897 shares during the period. Geode Capital Management LLC raised its position in Biogen by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 3,918,150 shares of the biotechnology company’s stock worth $490,089,000 after purchasing an additional 71,286 shares during the last quarter. Invesco Ltd. lifted its holdings in Biogen by 2.4% during the 2nd quarter. Invesco Ltd. now owns 2,320,126 shares of the biotechnology company’s stock worth $291,385,000 after buying an additional 55,119 shares during the period. Finally, Norges Bank acquired a new position in Biogen during the 2nd quarter worth about $284,358,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Price Performance

Biogen stock opened at $174.80 on Friday. The stock has a market capitalization of $25.64 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.47 and a beta of 0.13. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $185.17. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.04 and a current ratio of 2.72. The stock’s 50 day moving average price is $163.65 and its two-hundred day moving average price is $145.29.

Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.89 by $0.92. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.34 billion. Biogen had a net margin of 15.98% and a return on equity of 14.13%. Biogen’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.08 EPS. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. On average, equities analysts predict that Biogen Inc. will post 15.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada decreased their price target on Biogen from $217.00 to $210.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Wells Fargo & Company upped their target price on Biogen from $155.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, December 10th. Citigroup reissued a “neutral” rating on shares of Biogen in a research report on Wednesday, September 24th. BMO Capital Markets boosted their price target on shares of Biogen from $150.00 to $165.00 and gave the stock a “market perform” rating in a research report on Thursday. Finally, Rothschild & Co Redburn upped their price objective on shares of Biogen from $149.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Ten investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $183.08.

Biogen Company 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.