Adams Diversified Equity Fund Inc. Invests $7.80 Million in Biogen Inc. $BIIB

Adams Diversified Equity Fund Inc. acquired a new position in Biogen Inc. (NASDAQ:BIIB) during the fourth quarter, Holdings Channel reports. The firm acquired 44,300 shares of the biotechnology company’s stock, valued at approximately $7,796,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of BIIB. Empowered Funds LLC raised its stake in shares of Biogen by 64.9% in the 1st quarter. Empowered Funds LLC now owns 7,054 shares of the biotechnology company’s stock worth $965,000 after buying an additional 2,777 shares in the last quarter. Focus Partners Wealth grew its holdings in shares of Biogen by 172.2% in the 1st quarter. Focus Partners Wealth now owns 10,173 shares of the biotechnology company’s stock worth $1,392,000 after acquiring an additional 6,436 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Biogen in the 2nd quarter worth $216,000. Cerity Partners LLC grew its holdings in shares of Biogen by 15.3% in the 2nd quarter. Cerity Partners LLC now owns 46,552 shares of the biotechnology company’s stock worth $5,847,000 after acquiring an additional 6,184 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Biogen by 13.4% in the 2nd quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company’s stock worth $336,000 after acquiring an additional 316 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Biogen Stock Performance

Shares of BIIB stock opened at $200.05 on Friday. Biogen Inc. has a 1-year low of $121.05 and a 1-year high of $205.97. 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 company has a market capitalization of $29.54 billion, a price-to-earnings ratio of 21.46 and a beta of 0.20. The stock’s fifty day simple moving average is $188.73 and its 200-day simple moving average is $184.31.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share for the quarter, beating 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 business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the previous year, the company posted $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. On average, sell-side analysts predict that Biogen Inc. will post 14.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Piper Sandler restated an “overweight” rating and issued a $225.00 target price (up from $214.00) on shares of Biogen in a report on Friday, May 15th. Citigroup lifted their target price on Biogen from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Truist Financial decreased their target price on Biogen from $193.00 to $189.00 and set a “hold” rating on the stock in a report on Monday, April 13th. Sanford C. Bernstein decreased their target price on Biogen from $201.00 to $200.00 in a report on Thursday, April 30th. Finally, Rothschild & Co Redburn lifted their target price on Biogen from $180.00 to $190.00 in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $217.26.

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.