HighTower Advisors LLC Sells 2,752 Shares of Biogen Inc. $BIIB

HighTower Advisors LLC cut its holdings in Biogen Inc. (NASDAQ:BIIB) by 5.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 47,099 shares of the biotechnology company’s stock after selling 2,752 shares during the quarter. HighTower Advisors LLC’s holdings in Biogen were worth $10,176,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BIIB. Bell Investment Advisors Inc bought a new position in Biogen during the second quarter valued at $27,000. Reflection Asset Management bought a new stake in shares of Biogen in the 4th quarter worth about $25,000. Root Financial Partners LLC raised its position in shares of Biogen by 198.4% during the 4th quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 123 shares in the last quarter. MV Capital Management Inc. bought a new position in shares of Biogen in the 4th quarter valued at about $34,000. Finally, Strive Financial Group LLC bought a new position in shares of Biogen in the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BIIB. Barclays boosted their price objective on Biogen from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 29th. Mizuho lifted their target price on Biogen from $221.00 to $241.00 and gave the stock an “outperform” rating in a report on Tuesday, August 4th. UBS Group boosted their target price on Biogen from $225.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Bank of America decreased their price target on Biogen from $217.00 to $215.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Finally, HSBC restated a “reduce” rating and issued a $157.00 price target on shares of Biogen in a research report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $228.50.

Biogen Price Performance

BIIB opened at $210.73 on Thursday. The business has a fifty day moving average of $209.57 and a 200 day moving average of $197.06. The stock has a market cap of $31.14 billion, a P/E ratio of 37.30, a PEG ratio of 2.35 and a beta of 0.17. The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.39. Biogen Inc. has a 52-week low of $135.39 and a 52-week high of $225.80.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.66. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The company’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, sell-side analysts anticipate that Biogen Inc. will post 12.39 EPS for the current year.

Biogen Company Profile

Biogen Inc is a biotechnology company focused on discovering, developing and commercializing therapies for neurological and neurodegenerative diseases. Founded in 1978, the company is headquartered in Cambridge, Massachusetts, and serves patients and healthcare providers in markets around the world.

Biogen’s portfolio includes treatments for multiple sclerosis, including Tecfidera, Vumerity, Tysabri, Avonex and Plegridy, as well as Spinraza for spinal muscular atrophy, developed in collaboration with Ionis Pharmaceuticals.