Biogen Inc. $BIIB Shares Sold by AustralianSuper Pty Ltd

Key Points

• AustralianSuper Pty Ltd cut its Biogen stake by 36.5% in the fourth quarter, selling 274,574 shares and ending with 476,812 shares worth about $83.9 million.
• Biogen’s Alzheimer’s pipeline is drawing attention after diranersen showed strong tau reductions and signs of cognitive benefit, prompting plans to advance the drug into Phase 3 despite missing its primary endpoint.
• The company beat quarterly expectations, reporting EPS of $3.57 versus $2.95 expected and revenue of $2.48 billion, while analysts currently rate the stock a “Moderate Buy” with a consensus target price of $214.23.

AustralianSuper Pty Ltd lessened its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 36.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 476,812 shares of the biotechnology company's stock after selling 274,574 shares during the quarter. AustralianSuper Pty Ltd owned approximately 0.33% of Biogen worth $83,914,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BIIB. Orion Porfolio Solutions LLC lifted its position in shares of Biogen by 6,828.4% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company's stock worth $64,965,000 after buying an additional 509,809 shares during the last quarter. Caisse de depot et placement du Quebec raised its stake in Biogen by 718.2% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 569,253 shares of the biotechnology company's stock worth $79,741,000 after acquiring an additional 499,676 shares in the last quarter. AQR Capital Management LLC raised its stake in Biogen by 30.7% during the 3rd quarter. AQR Capital Management LLC now owns 1,783,581 shares of the biotechnology company's stock worth $248,809,000 after acquiring an additional 418,776 shares in the last quarter. Alyeska Investment Group L.P. lifted its position in Biogen by 66.1% in the third quarter. Alyeska Investment Group L.P. now owns 845,277 shares of the biotechnology company's stock valued at $118,406,000 after acquiring an additional 336,504 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Biogen by 425.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 348,404 shares of the biotechnology company's stock valued at $48,804,000 after acquiring an additional 282,084 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

More Biogen News

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Biogen said diranersen produced robust tau reductions and showed cognitive benefit signals in early Alzheimer’s disease, supporting plans to move the program into Phase 3 development. Biogen Shares Jump 10% After Advancing Alzheimer's Tau Drug
• Positive Sentiment: Several analysts remained upbeat after the CELIA data, with buy ratings and price-target support implying Wall Street sees the tau program as more de-risked than before. Biogen Buy Rating Reiterated as CELIA Phase 2 Diranersen Data De-Risk Tau Strategy and Support Unchanged $237 Price Target
• Positive Sentiment: Biogen also completed its acquisition of Apellis Pharmaceuticals, which could strengthen near-term growth by adding commercial products and broadening the company’s revenue base. Biogen Completes Acquisition of Apellis Pharmaceuticals
• Neutral Sentiment: Biogen’s Alzheimer’s pipeline remains in focus, with additional coverage noting the company still appears likely to win approval for a subcutaneous Leqembi formulation, though the FDA timeline has been delayed. Biogen's 'Leqembi' Subcutaneous Approval Still Likely Despite FDA Delay, RBC Says
• Negative Sentiment: The stock also faced some skepticism because CELIA missed its primary endpoint, which is tempering enthusiasm even as investors react positively to the biomarker and cognitive signals. Biogen advances Alzheimer's drug to late-stage trial despite disappointing data

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on BIIB shares. Wall Street Zen raised Biogen from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. JPMorgan Chase & Co. upped their target price on Biogen from $175.00 to $185.00 and gave the company a "neutral" rating in a research report on Thursday, April 23rd. Truist Financial dropped their price target on Biogen from $193.00 to $189.00 and set a "hold" rating on the stock in a research note on Monday, April 13th. Guggenheim lifted their price target on Biogen from $246.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Finally, Citigroup boosted their price objective on Biogen from $190.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $214.23.

Biogen Stock Down 6.4%

Shares of NASDAQ:BIIB opened at $191.37 on Friday. The company has a market cap of $28.25 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 1.80 and a beta of 0.19. The firm's 50-day simple moving average is $185.15 and its 200-day simple moving average is $179.24. The company has a quick ratio of 2.41, a current ratio of 3.06 and a debt-to-equity ratio of 0.34. Biogen Inc. has a fifty-two week low of $119.18 and a fifty-two week high of $205.97.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.62. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The firm had revenue of $2.48 billion during the quarter, compared to analysts' expectations of $2.29 billion. During the same period in the prior year, the company posted $3.02 earnings per share. The firm's revenue for the quarter was up 1.9% on a year-over-year basis. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. As a group, equities research analysts predict that Biogen Inc. will post 14.21 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.

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