Fred Alger Management LLC Has $140.58 Million Stock Holdings in Biogen Inc. $BIIB

Fred Alger Management LLC raised its holdings in Biogen Inc. (NASDAQ:BIIB) by 39,074.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 798,774 shares of the biotechnology company’s stock after purchasing an additional 796,735 shares during the quarter. Fred Alger Management LLC owned 0.54% of Biogen worth $140,576,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Empowered Funds LLC lifted its stake 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 valued at $965,000 after acquiring an additional 2,777 shares during the last quarter. Focus Partners Wealth lifted its stake 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 valued at $1,392,000 after acquiring an additional 6,436 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Biogen in the 2nd quarter valued at $216,000. Cerity Partners LLC lifted its stake 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 valued at $5,847,000 after acquiring an additional 6,184 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake 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 valued at $336,000 after acquiring an additional 316 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Down 1.5%

Shares of NASDAQ:BIIB opened at $195.61 on Wednesday. The firm has a market cap of $28.88 billion, a P/E ratio of 20.99 and a beta of 0.20. The company has a quick ratio of 2.41, a current ratio of 3.06 and a debt-to-equity ratio of 0.34. Biogen Inc. has a 12-month low of $121.05 and a 12-month high of $205.97. The business has a fifty day simple moving average of $189.52 and a 200 day simple moving average of $184.58.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.62. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.29 billion. Biogen had a return on equity of 12.83% and a net margin of 13.81%.Biogen’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Analysts predict that Biogen Inc. will post 14.18 earnings per share for the current year.

Wall Street Analyst Weigh In

BIIB has been the subject of a number of research reports. Mizuho dropped their price target on Biogen from $236.00 to $221.00 and set an “outperform” rating for the company in a research note on Monday. JPMorgan Chase & Co. increased their price target on Biogen from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, April 23rd. HC Wainwright reiterated a “buy” rating on shares of Biogen in a research note on Thursday, May 14th. Wall Street Zen raised Biogen from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Barclays began coverage on Biogen in a research report on Thursday, February 19th. They set an “equal weight” rating and a $185.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Biogen has a consensus rating of “Moderate Buy” and an average price target of $216.70.

About Biogen

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.