256,323 Biogen Inc. $BIIB Shares Acquired by Yousif Capital Management LLC

Key Points

• Yousif Capital Management significantly increased its Biogen stake by purchasing 256,323 shares in the third quarter, bringing its total holdings to 270,457 shares valued at approximately $61.1 million.
• Institutional ownership remains high, with hedge funds and other institutional investors holding 87.93% of Biogen’s outstanding stock. Several major firms, including BlackRock and Primecap Management, also initiated or expanded positions.
• Biogen reported quarterly results above expectations, with EPS of $3.60 versus the $2.94 consensus and revenue of $2.74 billion. Analysts generally remain positive, assigning the stock a “Moderate Buy” consensus rating and an average price target of $241.89.

Yousif Capital Management LLC increased its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 1,813.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 270,457 shares of the biotechnology company's stock after buying an additional 256,323 shares during the period. Biogen comprises about 0.7% of Yousif Capital Management LLC's portfolio, making the stock its 22nd biggest position. Yousif Capital Management LLC owned 0.18% of Biogen worth $61,091,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BIIB. BlackRock Inc. purchased a new stake in shares of Biogen during the 2nd quarter worth $3,453,878,000. Primecap Management Co. CA purchased a new position in Biogen in the second quarter valued at $3,274,304,000. Wellington Management Group LLP increased its holdings in Biogen by 5.3% in the second quarter. Wellington Management Group LLP now owns 3,117,469 shares of the biotechnology company's stock valued at $673,560,000 after buying an additional 155,828 shares during the last quarter. Amundi raised its stake in Biogen by 91.8% in the second quarter. Amundi now owns 1,516,831 shares of the biotechnology company's stock valued at $327,727,000 after buying an additional 726,004 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in Biogen in the second quarter valued at $322,640,000. Institutional investors and hedge funds own 87.93% of the company's stock.

Biogen Stock Performance

BIIB traded down $3.15 on Friday, reaching $250.69. The company had a trading volume of 1,157,351 shares, compared to its average volume of 1,296,961. The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.39. Biogen Inc. has a 1 year low of $138.00 and a 1 year high of $254.41. The stock has a market capitalization of $37.04 billion, a PE ratio of 44.37, a P/E/G ratio of 2.83 and a beta of 0.09. The stock has a 50-day moving average price of $223.60 and a 200-day moving average price of $206.04.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.66. Biogen had a return on equity of 11.18% and a net margin of 8.32%. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter last year, the company posted $5.47 earnings per share. The business's quarterly revenue was up 3.4% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, research analysts forecast that Biogen Inc. will post 12.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BIIB. Wolfe Research raised Biogen from a "peer perform" rating to an "outperform" rating and set a $300.00 price target for the company in a report on Thursday, August 13th. Mizuho increased their price objective on Biogen from $221.00 to $241.00 and gave the company an "outperform" rating in a report on Tuesday, August 4th. Seaport Research Partners raised Biogen to an "outperform" rating in a research report on Monday, October 12th. Wall Street Zen cut Biogen from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, TD Cowen upped their price target on Biogen from $225.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Biogen currently has an average rating of "Moderate Buy" and an average target price of $241.89.

About Biogen

Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for neurological and neurodegenerative diseases. Its areas of focus include multiple sclerosis, Alzheimer's disease, spinal muscular atrophy, amyotrophic lateral sclerosis and other serious medical conditions.

The company's portfolio includes multiple sclerosis treatments such as Tecfidera, Vumerity, Tysabri, Plegridy and Avonex, as well as Spinraza for spinal muscular atrophy. Biogen also markets Leqembi, an Alzheimer's disease treatment developed in collaboration with Eisai, and works with partners to advance additional therapies and biosimilars.

Biogen was founded in 1978 and is headquartered in Cambridge, Massachusetts.

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:BIIB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.