Ritholtz Wealth Management Has $1.64 Million Position in Biogen Inc. $BIIB

by · The Markets Daily

Ritholtz Wealth Management lifted its holdings in shares of Biogen Inc. (NASDAQ:BIIBFree Report) by 92.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,680 shares of the biotechnology company’s stock after purchasing an additional 5,604 shares during the period. Ritholtz Wealth Management’s holdings in Biogen were worth $1,636,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in Biogen during the 2nd quarter worth about $284,358,000. Orion Porfolio Solutions LLC lifted its position in shares of Biogen by 6,828.4% during the second quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company’s stock worth $64,965,000 after purchasing an additional 509,809 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Biogen by 190.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 624,371 shares of the biotechnology company’s stock worth $78,415,000 after purchasing an additional 409,591 shares in the last quarter. AustralianSuper Pty Ltd grew its stake in shares of Biogen by 85.9% during the second quarter. AustralianSuper Pty Ltd now owns 739,416 shares of the biotechnology company’s stock valued at $92,863,000 after purchasing an additional 341,719 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Biogen by 1.5% in 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 purchasing an additional 257,812 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

Biogen Stock Performance

Shares of NASDAQ:BIIB opened at $164.42 on Monday. The firm’s 50 day simple moving average is $175.04 and its 200 day simple moving average is $152.14. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $190.20. The company has a market capitalization of $24.12 billion, a price-to-earnings ratio of 14.99, a P/E/G ratio of 1.37 and a beta of 0.13. 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 (NASDAQ:BIIBGet Free Report) last issued its earnings results on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, beating the consensus estimate of $3.89 by $0.92. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.34 billion. Biogen had a net margin of 15.98% and a return on equity of 14.13%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.08 earnings per share. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. As a group, sell-side analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on BIIB shares. Morgan Stanley upped their price objective on Biogen from $149.00 to $156.00 and gave the stock an “equal weight” rating in a report on Friday, December 12th. Citigroup upped their price target on Biogen from $153.00 to $180.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Wedbush raised their price target on Biogen from $135.00 to $143.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Sanford C. Bernstein lifted their price objective on Biogen from $157.00 to $197.00 and gave the stock a “market perform” rating in a research report on Friday, January 9th. Finally, Wall Street Zen downgraded shares of Biogen from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Ten analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Biogen currently has an average rating of “Hold” and a consensus price target of $190.50.

Read Our Latest Stock Analysis on BIIB

Biogen Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc. (NASDAQ:BIIBFree Report).