Sequoia Financial Advisors LLC Raises Position in Biogen Inc. $BIIB

Sequoia Financial Advisors LLC grew its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 100.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,096 shares of the biotechnology company’s stock after acquiring an additional 4,569 shares during the period. Sequoia Financial Advisors LLC’s holdings in Biogen were worth $1,274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. TD Private Client Wealth LLC lifted its position in Biogen by 22.5% during the third quarter. TD Private Client Wealth LLC now owns 414 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 76 shares in the last quarter. CX Institutional increased its position in Biogen by 6.1% in the third quarter. CX Institutional now owns 1,453 shares of the biotechnology company’s stock worth $204,000 after buying an additional 83 shares in the last quarter. Rothschild Investment LLC raised its stake in shares of Biogen by 64.7% in the second quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock worth $28,000 after buying an additional 88 shares during the period. True Wealth Design LLC lifted its position in shares of Biogen by 62.9% during the 3rd quarter. True Wealth Design LLC now owns 233 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 90 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC grew its stake in shares of Biogen by 3.8% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 2,511 shares of the biotechnology company’s stock valued at $315,000 after acquiring an additional 91 shares during the period. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Stock Up 0.7%

Shares of BIIB stock opened at $173.80 on Friday. The company’s fifty day simple moving average is $175.72 and its two-hundred day simple moving average is $152.88. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $190.20. The stock has a market cap of $25.50 billion, a P/E ratio of 15.84, a PEG ratio of 1.43 and a beta of 0.13. The company has a quick ratio of 2.04, a current ratio of 2.72 and a debt-to-equity ratio of 0.35.

Biogen (NASDAQ:BIIB) last issued its earnings results on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate 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 previous year, the firm 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. Analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on BIIB shares. Truist Financial raised their target price on shares of Biogen from $142.00 to $190.00 and gave the stock a “hold” rating in a research note on Thursday, January 8th. Royal Bank Of Canada restated an “outperform” rating on shares of Biogen in a research report on Tuesday, January 13th. Tudor Pickering set a $157.00 target price on shares of Biogen in a research note on Monday, November 3rd. HSBC reiterated a “reduce” rating and issued a $143.00 price target (down previously from $144.00) on shares of Biogen in a research note on Wednesday, December 10th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Biogen in a research report on Monday, December 29th. Ten equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $190.50.

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.