Cim Investment Management Inc. Has $803,000 Stock Holdings in Biogen Inc. $BIIB

Cim Investment Management Inc. grew its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 99.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 5,764 shares of the biotechnology company’s stock after acquiring an additional 2,877 shares during the period. Cim Investment Management Inc.’s holdings in Biogen were worth $803,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of BIIB. Elevation Point Wealth Partners LLC acquired a new stake in Biogen in the second quarter valued at $25,000. Rothschild Investment LLC grew its position in shares of Biogen by 64.7% in the 2nd quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 88 shares during the last quarter. Concord Wealth Partners increased its stake in shares of 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 buying an additional 114 shares during the period. NewSquare Capital LLC raised its position 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 last quarter. Finally, WFA of San Diego LLC acquired a new position in shares of Biogen in the second quarter worth approximately $32,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BIIB shares. Morgan Stanley increased their target price on shares of Biogen from $149.00 to $156.00 and gave the company an “equal weight” rating in a research report on Friday. Guggenheim increased their price objective on shares of Biogen from $165.00 to $185.00 in a research report on Friday, October 31st. Wells Fargo & Company lifted their target price on shares of Biogen from $155.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Wall Street Zen downgraded Biogen from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Finally, BMO Capital Markets lifted their price objective on Biogen from $128.00 to $150.00 in a research report on Friday, October 31st. Ten investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $182.48.

Biogen Trading Up 0.9%

NASDAQ:BIIB opened at $174.10 on Friday. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $185.17. 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 stock has a market capitalization of $25.54 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 1.46 and a beta of 0.13. The firm has a fifty day simple moving average of $161.44 and a two-hundred day simple moving average of $143.82.

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