Fuller & Thaler Asset Management Inc. Buys 1,880 Shares of Biogen Inc. $BIIB

Key Points

• Fuller & Thaler Asset Management Inc. increased its stake in Biogen by 27.7%, owning 8,668 shares valued at approximately $1.18 million at the end of the last quarter.
• Biogen's recent quarterly earnings surpassed expectations, reporting $5.47 EPS compared to the consensus estimate of $3.93, with a revenue of $2.65 billion.
• Analysts have mixed opinions on Biogen, with eleven recommending a Buy and twenty-one issuing a Hold, reflecting an average target price of $185.74.

Fuller & Thaler Asset Management Inc. increased its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 27.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,668 shares of the biotechnology company's stock after purchasing an additional 1,880 shares during the period. Fuller & Thaler Asset Management Inc.'s holdings in Biogen were worth $1,186,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. raised its holdings in Biogen by 6.5% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 416,960 shares of the biotechnology company's stock worth $57,057,000 after purchasing an additional 25,464 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in Biogen by 5.5% during the first quarter. Asset Management One Co. Ltd. now owns 61,420 shares of the biotechnology company's stock worth $8,405,000 after purchasing an additional 3,194 shares in the last quarter. Motley Fool Asset Management LLC raised its holdings in Biogen by 64.7% during the first quarter. Motley Fool Asset Management LLC now owns 6,809 shares of the biotechnology company's stock worth $932,000 after purchasing an additional 2,676 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Biogen by 3.1% during the first quarter. Assenagon Asset Management S.A. now owns 44,796 shares of the biotechnology company's stock worth $6,130,000 after purchasing an additional 1,336 shares in the last quarter. Finally, Blackhawk Capital Partners LLC. bought a new stake in Biogen during the first quarter worth approximately $382,000. Institutional investors own 87.93% of the company's stock.

Insiders Place Their Bets

In other Biogen news, insider Rachid Izzar sold 2,223 shares of the business's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total transaction of $300,105.00. Following the completion of the transaction, the insider owned 6,330 shares of the company's stock, valued at $854,550. The trade was a 25.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Biogen Stock Performance

Biogen stock traded up $0.19 on Friday, reaching $139.31. 1,198,725 shares of the stock were exchanged, compared to its average volume of 1,556,198. The stock has a market cap of $20.43 billion, a PE ratio of 13.32, a PEG ratio of 1.10 and a beta of 0.13. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $206.70. The firm has a fifty day moving average price of $130.66 and a two-hundred day moving average price of $130.75.

Biogen (NASDAQ:BIIB - Get Free Report) last released its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share for the quarter, topping analysts' consensus estimates of $3.93 by $1.54. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.32 billion. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The business's revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.28 EPS. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Sell-side analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. HSBC cut Biogen from a "buy" rating to a "hold" rating and set a $118.00 target price on the stock. in a report on Monday, April 28th. Canaccord Genuity Group decreased their price target on shares of Biogen from $265.00 to $220.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Robert W. Baird decreased their price target on shares of Biogen from $300.00 to $255.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Wedbush restated a "neutral" rating and issued a $121.00 price target on shares of Biogen in a research report on Thursday, June 12th. Finally, Hsbc Global Res lowered shares of Biogen from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Eleven analysts have rated the stock with a Buy rating and twenty-one have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $185.74.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.