Pictet Asset Management Holding SA trimmed its position in shares of Biogen Inc. (NASDAQ:BIIB – Free Report) by 3.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 913,328 shares of the biotechnology company’s stock after selling 34,166 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Biogen were worth $168,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Reflection Asset Management acquired a new position in Biogen in the fourth quarter worth approximately $25,000. WPG Advisers LLC lifted its stake in Biogen by 417.9% in the fourth quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 117 shares during the last quarter. First Horizon Corp bought a new stake in Biogen in the fourth quarter worth approximately $30,000. Root Financial Partners LLC grew its position in Biogen by 198.4% in the fourth quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 123 shares in the last quarter. Finally, MV Capital Management Inc. acquired a new position in shares of Biogen during the 4th quarter worth $34,000. Institutional investors own 87.93% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on BIIB shares. JPMorgan Chase & Co. raised their price target on shares of Biogen from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, April 23rd. Sanford C. Bernstein lowered their target price on shares of Biogen from $201.00 to $200.00 in a research report on Thursday, April 30th. Evercore began coverage on shares of Biogen in a research report on Friday, May 15th. They set an “outperform” rating on the stock. Needham & Company LLC restated a “buy” rating on shares of Biogen in a report on Thursday, June 18th. Finally, Truist Financial reduced their price target on Biogen from $193.00 to $189.00 and set a “hold” rating for the company in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Biogen presently has an average rating of “Moderate Buy” and a consensus target price of $217.37.
Biogen Price Performance
NASDAQ BIIB opened at $216.03 on Monday. Biogen Inc. has a 1 year low of $121.05 and a 1 year high of $218.06. The company has a fifty day simple moving average of $193.37 and a 200 day simple moving average of $185.71. The company has a current ratio of 3.06, a quick ratio of 2.41 and a debt-to-equity ratio of 0.34. The company has a market cap of $31.89 billion, a P/E ratio of 23.18 and a beta of 0.20.
Biogen (NASDAQ:BIIB – Get Free Report) last announced its earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, topping the consensus estimate of $2.95 by $0.62. The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.29 billion. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. On average, sell-side analysts predict that Biogen Inc. will post 13.95 EPS for the current year.
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.
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