Adams Diversified Equity Fund Inc. Acquires 56,000 Shares of Biogen Inc. $BIIB

Adams Diversified Equity Fund Inc. lifted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 126.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 100,300 shares of the biotechnology company’s stock after acquiring an additional 56,000 shares during the period. Adams Diversified Equity Fund Inc.’s holdings in Biogen were worth $18,388,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Reflection Asset Management bought a new position in Biogen in the fourth quarter valued at about $25,000. WPG Advisers LLC grew its holdings in shares of Biogen by 417.9% during the 4th quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 117 shares during the last quarter. Accredited Wealth Management LLC increased its position in Biogen by 1,233.3% during the 3rd quarter. Accredited Wealth Management LLC now owns 200 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 185 shares in the last quarter. First Horizon Corp acquired a new position in Biogen during the 4th quarter worth approximately $30,000. Finally, WFA of San Diego LLC acquired a new position in Biogen during the 2nd quarter worth approximately $32,000. 87.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BIIB has been the topic of a number of research analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Biogen in a research report on Monday, June 22nd. UBS Group upgraded shares of Biogen from a “neutral” rating to a “buy” rating and upped their price target for the stock from $185.00 to $225.00 in a report on Wednesday, April 22nd. Royal Bank Of Canada increased their price target on Biogen from $222.00 to $227.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Sanford C. Bernstein cut their price objective on Biogen from $201.00 to $200.00 in a report on Thursday, April 30th. Finally, Truist Financial reduced 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. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.37.

Biogen Trading Up 7.0%

NASDAQ BIIB opened at $216.03 on Friday. The business’s 50-day moving average price is $193.37 and its two-hundred day moving average price is $185.67. Biogen Inc. has a 12 month low of $121.05 and a 12 month high of $218.06. The firm has a market capitalization of $31.89 billion, a PE ratio of 23.18 and a beta of 0.20. The company has a current ratio of 3.06, a quick ratio of 2.41 and a debt-to-equity ratio of 0.34.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.95 by $0.62. The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.29 billion. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $3.02 earnings per share. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. On average, analysts expect that Biogen Inc. will post 13.95 EPS for the current 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.