Biogen Inc. $BIIB Shares Acquired by CWA Asset Management Group LLC

Key Points

• CWA Asset Management Group increased its Biogen holdings by 11.2% in the third quarter, acquiring 4,285 additional shares for a total position worth approximately $9.58 million.
• Institutional ownership remains high at 87.93%, with major investors including BlackRock, Primecap Management, Legal & General, Bank of America, and Deutsche Bank adding positions during the second quarter.
• Analysts are broadly positive, giving Biogen a consensus “Moderate Buy” rating and an average price target of $236.04; the company also exceeded quarterly earnings and revenue expectations.

CWA Asset Management Group LLC raised its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 11.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,412 shares of the biotechnology company's stock after acquiring an additional 4,285 shares during the period. CWA Asset Management Group LLC's holdings in Biogen were worth $9,580,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BIIB. BlackRock Inc. bought a new position in shares of Biogen in the second quarter worth about $3,453,878,000. Primecap Management Co. CA acquired a new stake in shares of Biogen in the 2nd quarter valued at approximately $3,274,304,000. Legal & General Group Plc bought a new stake in shares of Biogen during the 2nd quarter valued at approximately $322,640,000. Bank of America Corp DE bought a new stake in shares of Biogen during the 2nd quarter valued at approximately $241,172,000. Finally, Deutsche Bank AG acquired a new position in Biogen during the 2nd quarter worth approximately $193,165,000. Institutional investors own 87.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Mizuho upped their target price on Biogen from $221.00 to $241.00 and gave the stock an "outperform" rating in a report on Tuesday, August 4th. JPMorgan Chase & Co. upgraded shares of Biogen from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $210.00 to $300.00 in a report on Monday, October 12th. Cantor Fitzgerald restated an "overweight" rating on shares of Biogen in a report on Monday, June 22nd. Piper Sandler reissued an "overweight" rating and set a $245.00 price objective (up from $225.00) on shares of Biogen in a research report on Thursday, September 3rd. Finally, UBS Group lifted their price target on shares of Biogen from $240.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Biogen presently has an average rating of "Moderate Buy" and a consensus target price of $236.04.

Biogen Stock Up 0.4%

Shares of NASDAQ:BIIB opened at $233.48 on Tuesday. Biogen Inc. has a 1 year low of $138.00 and a 1 year high of $240.99. The business has a fifty day moving average price of $220.49 and a two-hundred day moving average price of $204.32. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.87 and a quick ratio of 1.26. The company has a market capitalization of $34.50 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 2.58 and a beta of 0.09.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, topping the consensus estimate of $2.94 by $0.66. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the previous year, the firm posted $5.47 earnings per share. The company's revenue for the quarter was up 3.4% on a year-over-year basis. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Analysts forecast that Biogen Inc. will post 12.38 earnings per share for the current year.

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.

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