Fred Alger Management LLC Acquires 796,735 Shares of Biogen Inc. $BIIB

Fred Alger Management LLC lifted its holdings in Biogen Inc. (NASDAQ:BIIB) by 39,074.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 798,774 shares of the biotechnology company’s stock after buying an additional 796,735 shares during the period. Fred Alger Management LLC’s holdings in Biogen were worth $140,576,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in BIIB. Empowered Funds LLC raised its position 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 acquiring an additional 2,777 shares in the last quarter. Focus Partners Wealth raised its position 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 in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Biogen in the 2nd quarter worth about $216,000. Cerity Partners LLC raised its position 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 in the last quarter. Finally, NewEdge Advisors LLC raised its position 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 in the last quarter. 87.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BIIB has been the subject of a number of research analyst reports. Wedbush boosted their target price on Biogen from $191.00 to $196.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Citigroup boosted their target price on Biogen from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Canaccord Genuity Group boosted their target price on Biogen from $230.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, April 1st. Needham & Company LLC raised Biogen from a “hold” rating to a “buy” rating and set a $255.00 target price for the company in a research report on Monday, June 8th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Biogen in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Biogen has an average rating of “Moderate Buy” and a consensus target price of $216.70.

Biogen Stock Performance

Shares of Biogen stock opened at $195.61 on Wednesday. Biogen Inc. has a one year low of $121.05 and a one year high of $205.97. The firm has a market capitalization of $28.88 billion, a price-to-earnings ratio of 20.99 and a beta of 0.20. The business has a 50-day simple moving average of $189.52 and a 200 day simple moving average of $184.58. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.06 and a quick ratio of 2.41.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.95 by $0.62. The business 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 company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. On average, research analysts anticipate that Biogen Inc. will post 14.18 earnings per share for the current fiscal 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.