Biogen Inc. (NASDAQ:BIIB) is RA Capital Management L.P.’s 10th Largest Position

RA Capital Management L.P. grew its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 20.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,184,456 shares of the biotechnology company’s stock after purchasing an additional 202,317 shares during the quarter. Biogen makes up 2.6% of RA Capital Management L.P.’s investment portfolio, making the stock its 10th largest holding. RA Capital Management L.P. owned 0.81% of Biogen worth $229,595,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Primecap Management Co. CA increased its position in shares of Biogen by 0.7% during the 2nd quarter. Primecap Management Co. CA now owns 16,338,294 shares of the biotechnology company’s stock valued at $3,787,543,000 after purchasing an additional 117,578 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Biogen by 1.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,152,691 shares of the biotechnology company’s stock worth $223,438,000 after acquiring an additional 18,905 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Biogen by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock worth $176,982,000 after acquiring an additional 12,319 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Biogen by 29.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 711,184 shares of the biotechnology company’s stock worth $137,856,000 after acquiring an additional 162,511 shares during the last quarter. Finally, abrdn plc increased its holdings in Biogen by 6.2% in the 3rd quarter. abrdn plc now owns 568,510 shares of the biotechnology company’s stock worth $110,123,000 after acquiring an additional 33,333 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Price Performance

Shares of Biogen stock opened at $160.92 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The business’s 50 day simple moving average is $176.00 and its two-hundred day simple moving average is $201.52. The stock has a market capitalization of $23.45 billion, a P/E ratio of 14.54, a price-to-earnings-growth ratio of 1.52 and a beta of -0.08. Biogen Inc. has a one year low of $153.62 and a one year high of $268.30.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the previous year, the firm earned $4.36 earnings per share. The business’s revenue was down 2.5% compared to the same quarter last year. Analysts forecast that Biogen Inc. will post 16.45 EPS for the current year.

Wall Street Analyst Weigh In

BIIB has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price objective on Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Wolfe Research started coverage on Biogen in a research note on Friday, November 15th. They issued a “peer perform” rating for the company. Oppenheimer cut their target price on Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. StockNews.com upgraded Biogen from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Finally, Robert W. Baird raised their target price on Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Thirteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Biogen currently has a consensus rating of “Moderate Buy” and a consensus price target of $257.20.

About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer’s disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.