Sequoia Financial Advisors LLC Grows Holdings in Biogen Inc. $BIIB

Sequoia Financial Advisors LLC raised its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 100.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,096 shares of the biotechnology company’s stock after purchasing 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 SEC filing.

A number of other hedge funds have also recently made changes to their positions in BIIB. Vanguard Group Inc. raised its stake in Biogen by 1.5% during the second quarter. Vanguard Group Inc. now owns 17,290,651 shares of the biotechnology company’s stock valued at $2,171,533,000 after buying an additional 257,812 shares during the last quarter. State Street Corp increased its holdings in shares of Biogen by 1.0% during the second quarter. State Street Corp now owns 7,468,807 shares of the biotechnology company’s stock valued at $938,007,000 after acquiring an additional 71,897 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Biogen by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 3,918,150 shares of the biotechnology company’s stock worth $490,089,000 after purchasing an additional 71,286 shares during the last quarter. Invesco Ltd. boosted its stake in Biogen by 2.4% in the 2nd quarter. Invesco Ltd. now owns 2,320,126 shares of the biotechnology company’s stock worth $291,385,000 after purchasing an additional 55,119 shares in the last quarter. Finally, Norges Bank purchased a new stake in Biogen during the 2nd quarter valued at about $284,358,000. 87.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Biogen from $149.00 to $156.00 and gave the stock an “equal weight” rating in a report on Friday, December 12th. Hsbc Global Res lowered shares of Biogen from a “hold” rating to a “moderate sell” rating in a report on Wednesday, December 10th. Tudor Pickering set a $157.00 price objective on Biogen in a research report on Monday, November 3rd. Stifel Nicolaus raised Biogen from a “hold” rating to a “buy” rating and lifted their target price for the stock from $144.00 to $202.00 in a report on Thursday, November 6th. Finally, Guggenheim boosted their price target on Biogen from $165.00 to $185.00 in a research note on Friday, October 31st. Ten investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $190.50.

Biogen Stock Performance

BIIB stock opened at $173.80 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.72 and a quick ratio of 2.04. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $190.20. The company has a market cap of $25.50 billion, a P/E ratio of 15.84, a price-to-earnings-growth ratio of 1.43 and a beta of 0.13. The stock’s fifty day moving average price is $175.72 and its 200-day moving average price is $152.88.

Biogen (NASDAQ:BIIB) last posted its earnings results on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.92. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.34 billion. Biogen had a return on equity of 14.13% and a net margin of 15.98%.Biogen’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.08 earnings per share. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. On average, equities analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current 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.