Cerity Partners LLC Increases Position in Biogen Inc. $BIIB

Cerity Partners LLC raised its position in shares of Biogen Inc. (NASDAQ:BIIB) by 76.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,248 shares of the biotechnology company’s stock after buying an additional 35,696 shares during the period. Cerity Partners LLC owned about 0.06% of Biogen worth $11,522,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Banque Pictet & Cie SA raised its stake in shares of Biogen by 5.5% during the second quarter. Banque Pictet & Cie SA now owns 72,025 shares of the biotechnology company’s stock worth $9,046,000 after purchasing an additional 3,751 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. increased its stake in Biogen by 43.2% in the 2nd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 38,755 shares of the biotechnology company’s stock valued at $4,867,000 after buying an additional 11,695 shares during the period. Valeo Financial Advisors LLC acquired a new stake in shares of Biogen in the 2nd quarter worth $225,000. Privium Fund Management B.V. purchased a new stake in shares of Biogen in the second quarter valued at about $2,666,000. Finally, Nordea Investment Management AB increased its stake in shares of Biogen by 5.7% during the second quarter. Nordea Investment Management AB now owns 125,935 shares of the biotechnology company’s stock worth $15,810,000 after acquiring an additional 6,811 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wedbush lifted their price objective on Biogen from $135.00 to $143.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Wells Fargo & Company raised 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. Tudor Pickering set a $157.00 price objective on shares of Biogen in a report on Monday, November 3rd. Mizuho increased their target price on shares of Biogen from $169.00 to $177.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Finally, Morgan Stanley boosted their price target on Biogen from $149.00 to $156.00 and gave the stock an “equal weight” rating in a research note on Friday, December 12th. Ten equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $187.81.

Biogen Trading Up 0.9%

Shares of BIIB stock opened at $187.62 on Friday. The company has a market capitalization of $27.52 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 1.56 and a beta of 0.13. The company has a current ratio of 2.72, a quick ratio of 2.04 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $173.04 and a 200 day moving average price of $150.40. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $190.20.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.92. The business had revenue of $2.53 billion during 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%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.08 earnings per share. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. Research analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

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.