Biogen Inc. $BIIB Shares Acquired by Amundi

Key Points

• Amundi increased its Biogen stake by 38.2% in the first quarter, acquiring 218,398 additional shares for a total of 790,827 shares valued at approximately $145 million. Institutional investors and hedge funds collectively own 87.93% of the company.
• Biogen reported second-quarter revenue of $2.74 billion, up 3.4% year over year and above estimates, while adjusted EPS of $3.60 exceeded expectations. Management raised its revenue outlook and cited momentum in newer medicines and strategic acquisitions.
• Analyst sentiment is generally favorable, with a consensus “Moderate Buy” rating and an average price target of $223.36, but reported profitability weakened sharply as net income and diluted EPS fell substantially from the prior year.

Amundi increased its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 38.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 790,827 shares of the biotechnology company's stock after buying an additional 218,398 shares during the period. Amundi owned about 0.54% of Biogen worth $144,982,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Empowered Funds LLC increased its holdings in shares of Biogen by 64.9% in the 1st quarter. Empowered Funds LLC now owns 7,054 shares of the biotechnology company's stock valued at $965,000 after acquiring an additional 2,777 shares during the last quarter. Focus Partners Wealth lifted its stake in Biogen by 172.2% during the first quarter. Focus Partners Wealth now owns 10,173 shares of the biotechnology company's stock worth $1,392,000 after purchasing an additional 6,436 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Biogen in the second quarter worth $216,000. Cerity Partners LLC boosted its holdings in Biogen by 15.3% in the second quarter. Cerity Partners LLC now owns 46,552 shares of the biotechnology company's stock worth $5,847,000 after purchasing an additional 6,184 shares during the period. Finally, NewEdge Advisors LLC increased its stake in Biogen by 13.4% during the second quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company's stock valued at $336,000 after purchasing an additional 316 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Biogen

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Biogen reported second-quarter revenue of $2.74 billion, up 3.4% year over year and ahead of consensus estimates of approximately $2.46 billion. Growth was led by newer products and the company’s growth portfolio, helping adjusted EPS reach $3.60 versus the $2.94 analyst estimate. Biogen beats quarterly estimates as newer drugs drive growth
• Positive Sentiment: Management raised its revenue outlook and highlighted continued momentum in newer medicines and strategic acquisitions, supporting the view that Biogen is gradually reducing its reliance on older products. Biogen raises revenue outlook as growth portfolio drives Q2 beat
• Positive Sentiment: Several analysts became more constructive after the results. TD Cowen raised its price target to $225 and upgraded the stock to Buy, while Morgan Stanley increased its target to $231, although it retained an Equal Weight rating. Barclays also expects the shares to rise.
• Neutral Sentiment: Wedbush raised its price target from $201 to $215 but maintained a Neutral rating, and Piper Sandler reaffirmed its Buy rating. Zacks upgraded Biogen from Strong Sell to Hold, indicating improving sentiment but not broad analyst conviction.
• Negative Sentiment: Reported profitability deteriorated substantially. Second-quarter net income fell to $97.5 million, while diluted EPS from continuing operations declined to $0.66 from $4.33 a year earlier; first-half net income also dropped to $417 million from $875.3 million. The sharp gap between revenue growth and reported earnings is raising concerns that profitability may be peaking. Biogen earnings and profitability analysis

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BIIB shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Biogen in a research note on Wednesday. Citigroup increased their price target on Biogen from $190.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, May 1st. Oppenheimer reissued an "outperform" rating and issued a $300.00 price target on shares of Biogen in a report on Wednesday. Evercore assumed coverage on Biogen in a research note on Friday, May 15th. They set an "outperform" rating for the company. Finally, Canaccord Genuity Group raised their target price on Biogen from $245.00 to $248.00 and gave the company a "buy" rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Biogen presently has a consensus rating of "Moderate Buy" and an average price target of $223.36.

Biogen Stock Performance

Biogen stock opened at $202.95 on Friday. Biogen Inc. has a fifty-two week low of $124.56 and a fifty-two week high of $219.72. The firm's 50 day simple moving average is $201.23 and its 200-day simple moving average is $190.60. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.87 and a quick ratio of 2.41. The company has a market cap of $29.99 billion, a P/E ratio of 35.92, a price-to-earnings-growth ratio of 6.43 and a beta of 0.16.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, topping analysts' consensus estimates of $2.94 by $0.66. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same quarter last year, the business posted $5.47 EPS. The company's revenue was up 3.4% on a year-over-year basis. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, equities research analysts predict that Biogen Inc. will post 12.49 EPS 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.

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