Thrivent Financial for Lutherans Trims Stock Position in Biogen Inc. $BIIB

Thrivent Financial for Lutherans lessened its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 83.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,987 shares of the biotechnology company’s stock after selling 68,104 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Biogen were worth $2,461,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Advisory Services Network LLC lifted its position in shares of Biogen by 3.9% during the 3rd quarter. Advisory Services Network LLC now owns 1,792 shares of the biotechnology company’s stock worth $251,000 after buying an additional 68 shares during the last quarter. Davis Investment Partners LLC lifted its position in shares of Biogen by 1.7% during the 4th quarter. Davis Investment Partners LLC now owns 4,374 shares of the biotechnology company’s stock worth $778,000 after buying an additional 71 shares during the last quarter. Optas LLC lifted its position in shares of Biogen by 4.5% during the 4th quarter. Optas LLC now owns 1,706 shares of the biotechnology company’s stock worth $300,000 after buying an additional 73 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Biogen by 8.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,189 shares of the biotechnology company’s stock worth $167,000 after buying an additional 89 shares during the last quarter. Finally, Chicago Partners Investment Group LLC lifted its position in shares of Biogen by 3.4% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,816 shares of the biotechnology company’s stock worth $483,000 after buying an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Evercore assumed coverage on shares of Biogen in a research report on Friday, May 15th. They set an “outperform” rating for the company. Wolfe Research set a $231.00 price target on shares of Biogen in a research report on Monday, February 9th. Rothschild & Co Redburn upped their price target on shares of Biogen from $180.00 to $190.00 in a research report on Thursday, April 30th. JPMorgan Chase & Co. upped their price target on shares of Biogen from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, April 23rd. Finally, Weiss Ratings upgraded shares of Biogen from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $215.62.

Biogen Price Performance

Shares of Biogen stock opened at $193.76 on Tuesday. The company has a market cap of $28.61 billion, a P/E ratio of 20.79, a PEG ratio of 1.71 and a beta of 0.19. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.41 and a current ratio of 3.06. Biogen Inc. has a one year low of $121.05 and a one year high of $205.97. The firm has a fifty day moving average of $185.66 and a two-hundred day moving average of $181.27.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $2.95 by $0.62. The company had revenue of $2.48 billion during 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%. Biogen’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. On average, analysts forecast that Biogen Inc. will post 14.18 earnings per share for the current year.

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.