Ethic Inc. Boosts Position in Biogen Inc. $BIIB

Ethic Inc. raised its position in Biogen Inc. (NASDAQ:BIIB) by 257.7% during the third quarter, Holdings Channel reports. The fund owned 44,496 shares of the biotechnology company’s stock after acquiring an additional 32,058 shares during the period. Ethic Inc.’s holdings in Biogen were worth $6,233,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Elevation Point Wealth Partners LLC purchased a new stake in shares of Biogen during the 2nd quarter valued at about $25,000. Rothschild Investment LLC grew its position in Biogen by 64.7% during the second 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 period. Concord Wealth Partners increased its holdings in Biogen by 100.0% during 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 last quarter. NewSquare Capital LLC raised its position in Biogen by 134.6% in 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. Finally, WFA of San Diego LLC purchased a new position in shares of Biogen during the 2nd quarter worth $32,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BIIB has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Biogen in a report on Monday, December 22nd. Guggenheim raised their price objective on Biogen from $165.00 to $185.00 in a research note on Friday, October 31st. Robert W. Baird lowered their price objective on Biogen from $255.00 to $250.00 in a research report on Friday, October 31st. Needham & Company LLC reissued a “hold” rating on shares of Biogen in a report on Wednesday, September 24th. Finally, Morgan Stanley raised their target price on shares of Biogen from $149.00 to $156.00 and gave the stock an “equal weight” rating in a research note on Friday, December 12th. 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 currently has an average rating of “Hold” and an average target price of $183.08.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $176.83 on Tuesday. The firm has a market cap of $25.94 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 1.49 and a beta of 0.13. The firm has a fifty day moving average price of $167.47 and a 200 day moving average price of $147.20. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two 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.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, beating the consensus estimate 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 business’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.08 EPS. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. As a group, sell-side analysts expect 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.