Sector Gamma AS Has $10.57 Million Holdings in Biogen Inc. $BIIB

Sector Gamma AS boosted its position in shares of Biogen Inc. (NASDAQ:BIIB) by 49.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,475 shares of the biotechnology company’s stock after acquiring an additional 24,836 shares during the period. Biogen accounts for 2.6% of Sector Gamma AS’s investment portfolio, making the stock its 12th biggest holding. Sector Gamma AS owned approximately 0.05% of Biogen worth $10,573,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BIIB. Elevation Point Wealth Partners LLC bought a new position in shares of Biogen in the second quarter worth about $25,000. Rothschild Investment LLC grew its holdings in Biogen by 64.7% in the 2nd 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 last quarter. Concord Wealth Partners increased its position in Biogen by 100.0% in the 2nd quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock worth $29,000 after buying an additional 114 shares during the period. NewSquare Capital LLC lifted its holdings in shares of Biogen by 134.6% during the second quarter. NewSquare Capital LLC now owns 244 shares of the biotechnology company’s stock worth $31,000 after buying an additional 140 shares during the last quarter. Finally, WFA of San Diego LLC bought a new stake in shares of Biogen in the second quarter valued at approximately $32,000. 87.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Mizuho upped their target price on shares of Biogen from $177.00 to $207.00 and gave the company an “outperform” rating in a research note on Thursday, January 8th. Citigroup boosted their price objective on shares of Biogen from $153.00 to $180.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. Tudor Pickering set a $157.00 target price on shares of Biogen in a research note on Monday, November 3rd. Royal Bank Of Canada reissued an “outperform” rating on shares of Biogen in a research report on Tuesday, January 13th. Finally, Rothschild & Co Redburn upped their price target on Biogen from $149.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Ten investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $191.85.

Biogen Trading Down 1.3%

BIIB stock opened at $171.59 on Friday. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $190.20. The company has a current ratio of 2.72, a quick ratio of 2.04 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $175.80 and its 200-day moving average is $153.30. The firm has a market cap of $25.17 billion, a P/E ratio of 15.64, a P/E/G ratio of 1.43 and a beta of 0.13.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.92. Biogen had a return on equity of 14.13% and a net margin of 15.98%.The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the prior year, the business posted $4.08 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. Equities analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

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.