Ethic Inc. Buys 4,095 Shares of Biogen Inc. $BIIB

Ethic Inc. grew its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 9.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,591 shares of the biotechnology company’s stock after acquiring an additional 4,095 shares during the period. Ethic Inc.’s holdings in Biogen were worth $8,552,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Ballentine Partners LLC raised its stake in shares of Biogen by 6.1% during the fourth quarter. Ballentine Partners LLC now owns 6,305 shares of the biotechnology company’s stock valued at $1,110,000 after acquiring an additional 364 shares in the last quarter. MGO One Seven LLC purchased a new position in Biogen during the fourth quarter valued at approximately $396,000. Crestwood Advisors Group LLC increased its holdings in Biogen by 20.5% during the fourth quarter. Crestwood Advisors Group LLC now owns 2,194 shares of the biotechnology company’s stock valued at $386,000 after buying an additional 373 shares during the period. Sequoia Financial Advisors LLC increased its holdings in Biogen by 16.1% during the fourth quarter. Sequoia Financial Advisors LLC now owns 10,564 shares of the biotechnology company’s stock valued at $1,859,000 after buying an additional 1,468 shares during the period. Finally, Gateway Investment Advisers LLC increased its holdings in Biogen by 13.8% during the fourth quarter. Gateway Investment Advisers LLC now owns 48,161 shares of the biotechnology company’s stock valued at $8,476,000 after buying an additional 5,835 shares during the period. Institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on BIIB. Royal Bank Of Canada lifted their price objective on shares of Biogen from $213.00 to $222.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Weiss Ratings raised shares of Biogen from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Wedbush lifted their price objective on shares of Biogen from $191.00 to $196.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Morgan Stanley lifted their price objective on shares of Biogen from $200.00 to $206.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Finally, Wells Fargo & Company lifted their price objective on shares of Biogen from $190.00 to $200.00 and gave the company an “equal weight” rating in a report on Sunday, February 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $214.23.

Key Biogen News

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: The FDA said it needs more time to review additional information for LEQEMBI IQLIK, but Biogen and Eisai said the agency has not expressed concerns about approval, keeping alive the chance of another Alzheimer’s franchise win. Article Title
• Positive Sentiment: LEQEMBI is already approved in more than 50 markets worldwide, which reinforces confidence in the therapy’s commercial potential if the FDA clears the subcutaneous starting-dose version. Article Title
• Neutral Sentiment: Wall Street analysts made several earnings estimate updates for Biogen ahead of the next quarterly results, with mixed direction across quarters; these revisions do not appear to be the main driver of the stock move today. Article Title
• Negative Sentiment: The delayed FDA review means Biogen must wait longer for a potential expansion of its Alzheimer’s treatment business, which could postpone any related sales boost. Article Title

Biogen Trading Up 1.1%

NASDAQ:BIIB opened at $193.45 on Friday. Biogen Inc. has a 12 month low of $118.05 and a 12 month high of $202.41. The firm has a fifty day simple moving average of $184.27 and a 200-day simple moving average of $177.50. 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 $28.56 billion, a P/E ratio of 20.76, a PEG ratio of 1.69 and a beta of 0.19.

Biogen (NASDAQ:BIIB) last posted its 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 company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.29 billion. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.02 earnings per share. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. On average, equities research analysts anticipate that Biogen Inc. will post 14.31 earnings per share for the current year.

Insider Buying and Selling at Biogen

In other Biogen news, insider Priya Singhal sold 2,660 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $199.83, for a total value of $531,547.80. Following the completion of the transaction, the insider owned 8,043 shares in the company, valued at approximately $1,607,232.69. This represents a 24.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

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.