Empowered Funds LLC Takes Position in Biogen Inc. $BIIB

Empowered Funds LLC acquired a new stake in Biogen Inc. (NASDAQ:BIIB) in the second quarter, HoldingsChannel reports. The firm acquired 21,948 shares of the biotechnology company’s stock, valued at approximately $4,742,000.

Several other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in Biogen during the 2nd quarter worth approximately $3,453,878,000. Primecap Management Co. CA bought a new position in shares of Biogen during the second quarter valued at $3,274,304,000. Geode Capital Management LLC lifted its holdings in shares of Biogen by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 4,199,399 shares of the biotechnology company’s stock worth $736,435,000 after purchasing an additional 130,618 shares during the period. Norges Bank acquired a new position in shares of Biogen during the fourth quarter worth $464,408,000. Finally, Invesco Ltd. grew its stake in shares of Biogen by 4.2% in the third quarter. Invesco Ltd. now owns 2,418,127 shares of the biotechnology company’s stock worth $338,731,000 after purchasing an additional 98,001 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Trading Down 0.8%

BIIB opened at $216.65 on Tuesday. Biogen Inc. has a twelve month low of $131.52 and a twelve month high of $222.85. The company has a fifty day moving average of $208.15 and a 200-day moving average of $195.89. The stock has a market cap of $32.01 billion, a PE ratio of 38.35, 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.

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

Wall Street Analysts Forecast Growth

BIIB has been the subject of a number of recent research reports. Piper Sandler restated an “overweight” rating on shares of Biogen in a report on Tuesday, July 14th. Wall Street Zen lowered Biogen from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Guggenheim upped their price target on Biogen from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Evercore initiated coverage on Biogen in a research note on Friday, May 15th. They issued an “outperform” rating for the company. Finally, Royal Bank Of Canada raised their price objective on Biogen from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.