Biogen Inc. $BIIB Shares Acquired by Allstate Corp

Allstate Corp lifted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 105.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,672 shares of the biotechnology company’s stock after purchasing an additional 4,972 shares during the period. Allstate Corp’s holdings in Biogen were worth $1,702,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in BIIB. Fisher Asset Management LLC raised its position in shares of Biogen by 5.8% during the 4th quarter. Fisher Asset Management LLC now owns 293,269 shares of the biotechnology company’s stock valued at $51,613,000 after buying an additional 15,984 shares during the period. Clearstead Advisors LLC raised its position in shares of Biogen by 49.7% during the 4th quarter. Clearstead Advisors LLC now owns 2,249 shares of the biotechnology company’s stock valued at $396,000 after buying an additional 747 shares during the period. Hantz Financial Services Inc. raised its position in Biogen by 12.2% in the fourth quarter. Hantz Financial Services Inc. now owns 1,836 shares of the biotechnology company’s stock valued at $323,000 after purchasing an additional 200 shares during the period. Systematic Financial Management LP raised its position in Biogen by 256.3% in the fourth quarter. Systematic Financial Management LP now owns 16,640 shares of the biotechnology company’s stock valued at $2,928,000 after purchasing an additional 11,970 shares during the period. Finally, Prospera Financial Services Inc purchased a new stake in Biogen in the fourth quarter valued at approximately $394,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Performance

Shares of BIIB stock opened at $196.39 on Friday. The company has a current ratio of 3.06, a quick ratio of 2.41 and a debt-to-equity ratio of 0.34. The firm has a fifty day moving average price of $186.39 and a 200 day moving average price of $182.12. The company has a market cap of $29.00 billion, a P/E ratio of 21.07, a PEG ratio of 1.74 and a beta of 0.19. Biogen Inc. has a 12 month low of $121.05 and a 12 month high of $205.97.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $2.95 by $0.62. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.29 billion. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.02 earnings per share. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Sell-side analysts predict that Biogen Inc. will post 14.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Wedbush boosted their target price on Biogen from $191.00 to $196.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Wells Fargo & Company boosted their target price on Biogen from $190.00 to $200.00 and gave the company an “equal weight” rating in a research report on Sunday, February 8th. Sanford C. Bernstein cut their price objective on Biogen from $201.00 to $200.00 in a research report on Thursday, April 30th. Truist Financial cut their price objective on Biogen from $193.00 to $189.00 and set a “hold” rating on the stock in a research report on Monday, April 13th. Finally, Tudor Pickering set a $201.00 price objective on Biogen in a research report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $215.81.

Biogen 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.