Biogen Inc. $BIIB Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. boosted its holdings in Biogen Inc. (NASDAQ:BIIB) by 769.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,002 shares of the biotechnology company’s stock after purchasing an additional 29,207 shares during the period. QRG Capital Management Inc.’s holdings in Biogen were worth $6,050,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Biogen by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 17,447,092 shares of the biotechnology company’s stock valued at $3,070,514,000 after purchasing an additional 157,857 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Biogen by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 4,199,399 shares of the biotechnology company’s stock worth $736,435,000 after purchasing an additional 130,618 shares during the period. Norges Bank bought a new position in shares of Biogen in the 4th quarter worth about $464,408,000. Invesco Ltd. boosted its holdings in shares of Biogen by 4.2% in the 3rd quarter. Invesco Ltd. now owns 2,418,127 shares of the biotechnology company’s stock valued at $338,731,000 after buying an additional 98,001 shares during the period. Finally, Morgan Stanley boosted its holdings in shares of Biogen by 3.3% in the 4th quarter. Morgan Stanley now owns 2,325,013 shares of the biotechnology company’s stock valued at $409,180,000 after buying an additional 73,478 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Price Performance

NASDAQ:BIIB opened at $216.12 on Monday. The company has a quick ratio of 2.41, a current ratio of 3.06 and a debt-to-equity ratio of 0.34. The business’s 50-day moving average price is $196.61 and its 200 day moving average price is $187.11. Biogen Inc. has a 52-week low of $121.05 and a 52-week high of $219.72. The firm has a market cap of $31.91 billion, a P/E ratio of 23.19 and a beta of 0.16.

Biogen (NASDAQ:BIIB) last announced its earnings results 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. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period in the previous year, the firm earned $3.02 earnings per share. Biogen’s revenue for the quarter was up 1.9% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. As a group, sell-side analysts predict that Biogen Inc. will post 13.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BIIB has been the subject of several recent research reports. Evercore started coverage on Biogen in a report on Friday, May 15th. They set an “outperform” rating for the company. Zacks Research lowered Biogen from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. Wedbush boosted their price objective on Biogen from $191.00 to $196.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Freedom Capital upgraded Biogen from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Weiss Ratings raised Biogen from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $217.41.

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.