Van ECK Associates Corp Sells 981,752 Shares of Biogen Inc. $BIIB

Van ECK Associates Corp cut its position in Biogen Inc. (NASDAQ:BIIB) by 90.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 98,109 shares of the biotechnology company’s stock after selling 981,752 shares during the period. Van ECK Associates Corp’s holdings in Biogen were worth $21,197,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Reflection Asset Management bought a new stake in shares of Biogen in the 4th quarter valued at $25,000. Bell Investment Advisors Inc bought a new position in Biogen during the second quarter worth about $27,000. WFA of San Diego LLC acquired a new position in Biogen in the second quarter valued at about $32,000. Root Financial Partners LLC grew its stake in Biogen by 198.4% in the fourth quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 123 shares during the period. Finally, MV Capital Management Inc. bought a new stake in shares of Biogen in the fourth quarter worth about $34,000. 87.93% of the stock is owned by institutional investors.

Biogen Price Performance

NASDAQ:BIIB opened at $218.50 on Monday. Biogen Inc. has a twelve month low of $131.52 and a twelve month high of $222.85. The firm has a market capitalization of $32.28 billion, a price-to-earnings ratio of 38.67, a price-to-earnings-growth ratio of 6.81 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. The stock’s 50 day moving average price is $207.81 and its two-hundred day moving average price is $195.69.

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

Wall Street Analysts Forecast Growth

BIIB has been the topic of a number of research analyst reports. UBS Group raised their price target on Biogen from $225.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Morgan Stanley boosted their price objective on Biogen from $222.00 to $231.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Wall Street Zen cut Biogen from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Guggenheim raised their target price on shares of Biogen from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Biogen in a research note on Monday, July 13th. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $227.79.

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.