LSV Asset Management Buys 54,880 Shares of Biogen Inc. $BIIB

LSV Asset Management lifted its position in Biogen Inc. (NASDAQ:BIIB) by 21.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 306,839 shares of the biotechnology company’s stock after purchasing an additional 54,880 shares during the period. LSV Asset Management’s holdings in Biogen were worth $42,982,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of BIIB. CVA Family Office LLC increased its holdings in Biogen by 18.1% during the 3rd quarter. CVA Family Office LLC now owns 464 shares of the biotechnology company’s stock worth $65,000 after acquiring an additional 71 shares during the period. TD Private Client Wealth LLC grew its position in shares of Biogen by 22.5% during the 3rd quarter. TD Private Client Wealth LLC now owns 414 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 76 shares in the last quarter. CX Institutional increased its holdings in shares of Biogen by 6.1% in the third quarter. CX Institutional now owns 1,453 shares of the biotechnology company’s stock worth $204,000 after purchasing an additional 83 shares during the period. Rothschild Investment LLC raised its position in shares of Biogen by 64.7% in the second quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock worth $28,000 after buying an additional 88 shares in the last quarter. Finally, True Wealth Design LLC raised its position in shares of Biogen by 62.9% in the third quarter. True Wealth Design LLC now owns 233 shares of the biotechnology company’s stock worth $33,000 after buying an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 2,660 shares of the stock in a transaction on Monday, February 9th. The shares were sold at an average price of $199.83, for a total transaction of $531,547.80. Following the transaction, the insider owned 8,043 shares of the company’s stock, valued at approximately $1,607,232.69. This trade represents a 24.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BIIB. Canaccord Genuity Group upped their target price on Biogen from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday. HC Wainwright boosted their price objective on Biogen from $194.00 to $228.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Piper Sandler upped their price objective on shares of Biogen from $157.00 to $177.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. BMO Capital Markets lifted their target price on shares of Biogen from $165.00 to $196.00 and gave the company a “market perform” rating in a research report on Friday, February 6th. Finally, Mizuho boosted their price target on shares of Biogen from $207.00 to $236.00 and gave the stock an “outperform” rating in a research note on Tuesday. Twelve investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $205.84.

Biogen Stock Performance

Shares of NASDAQ BIIB opened at $196.52 on Friday. The stock’s 50-day moving average is $178.22 and its 200 day moving average is $158.85. The stock has a market cap of $28.84 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 1.55 and a beta of 0.16. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $202.41. The company has a current ratio of 2.68, a quick ratio of 2.03 and a debt-to-equity ratio of 0.34.

Biogen (NASDAQ:BIIB) last issued its earnings results on Friday, February 6th. The biotechnology company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.38. The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.21 billion. Biogen had a return on equity of 12.64% and a net margin of 13.07%.Biogen’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.44 earnings per share. Biogen has set its FY 2026 guidance at 15.250-16.250 EPS. On average, sell-side analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Biogen Company 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.