Van ECK Associates Corp Has $149.46 Million Stock Position in Biogen Inc. $BIIB

Van ECK Associates Corp trimmed its holdings in Biogen Inc. (NASDAQ:BIIB) by 0.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,066,931 shares of the biotechnology company’s stock after selling 7,880 shares during the period. Van ECK Associates Corp owned about 0.73% of Biogen worth $149,456,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of BIIB. Norges Bank purchased a new stake in shares of Biogen during the 2nd quarter valued at about $284,358,000. Orion Porfolio Solutions LLC boosted its holdings in Biogen by 6,828.4% in the second quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company’s stock worth $64,965,000 after purchasing an additional 509,809 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Biogen by 190.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 624,371 shares of the biotechnology company’s stock worth $78,415,000 after purchasing an additional 409,591 shares during the period. Vanguard Group Inc. increased its position in Biogen by 1.5% in the second quarter. Vanguard Group Inc. now owns 17,290,651 shares of the biotechnology company’s stock worth $2,171,533,000 after buying an additional 257,812 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Biogen by 49.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 671,054 shares of the biotechnology company’s stock worth $94,001,000 after purchasing an additional 222,297 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 2,660 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $199.83, for a total value of $531,547.80. Following the sale, the insider owned 8,043 shares in the company, valued at $1,607,232.69. This represents a 24.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by company insiders.

Biogen Stock Performance

Shares of NASDAQ:BIIB opened at $188.41 on Wednesday. The company has a market capitalization of $27.65 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 1.49 and a beta of 0.15. The company has a current ratio of 2.68, a quick ratio of 2.03 and a debt-to-equity ratio of 0.34. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $202.41. The firm’s 50-day moving average is $183.55 and its 200 day moving average is $166.15.

Biogen (NASDAQ:BIIB) last issued its earnings results on Friday, February 6th. The biotechnology company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.38. Biogen had a net margin of 13.07% and a return on equity of 12.64%. The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the prior year, the business earned $3.44 EPS. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. Biogen has set its FY 2026 guidance at 15.250-16.250 EPS. Research analysts predict that Biogen Inc. will post 15.83 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on BIIB shares. Morgan Stanley set a $190.00 target price on shares of Biogen in a report on Sunday, February 8th. Barclays began coverage on Biogen in a research note on Thursday, February 19th. They issued an “equal weight” rating and a $185.00 price objective for the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Biogen in a research note on Monday, December 29th. HSBC restated a “reduce” rating and issued a $143.00 price target (down from $144.00) on shares of Biogen in a research note on Wednesday, December 10th. Finally, TD Cowen boosted their target price on shares of Biogen from $175.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Twelve analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $205.04.

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.