Biogen Inc. $BIIB Shares Sold by Empowered Funds LLC

Key Points

• Empowered Funds LLC cut its Biogen stake by 62.4% in the first quarter, selling 36,186 shares and retaining 21,775 shares valued at approximately $3.99 million. Institutional investors and hedge funds collectively own 87.93% of BIIB.
• Biogen reported quarterly revenue of $2.74 billion and adjusted EPS of $3.60, exceeding analyst estimates of $2.46 billion and $2.94, respectively. Revenue increased 3.4% year over year, with newer products driving growth.
• Analyst sentiment remains broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $223.36 versus a recent price of $202.95; however, reported net income and diluted EPS declined sharply year over year.

Empowered Funds LLC trimmed its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 62.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,775 shares of the biotechnology company's stock after selling 36,186 shares during the quarter. Empowered Funds LLC's holdings in Biogen were worth $3,992,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Rothschild Investment LLC grew its position in Biogen by 12.3% during the fourth quarter. Rothschild Investment LLC now owns 513 shares of the biotechnology company's stock valued at $90,000 after buying an additional 56 shares during the period. Meeder Advisory Services Inc. raised its position in shares of Biogen by 1.2% in the first quarter. Meeder Advisory Services Inc. now owns 4,721 shares of the biotechnology company's stock worth $866,000 after acquiring an additional 57 shares during the period. Kera Capital Partners Inc. raised its position in shares of Biogen by 3.5% in the first quarter. Kera Capital Partners Inc. now owns 1,723 shares of the biotechnology company's stock worth $316,000 after acquiring an additional 58 shares during the period. Parallel Advisors LLC boosted its stake in shares of Biogen by 1.5% during the 1st quarter. Parallel Advisors LLC now owns 4,367 shares of the biotechnology company's stock worth $801,000 after acquiring an additional 65 shares in the last quarter. Finally, Itau Unibanco Holding S.A. boosted its stake in shares of Biogen by 24.4% during the 4th quarter. Itau Unibanco Holding S.A. now owns 337 shares of the biotechnology company's stock worth $59,000 after acquiring an additional 66 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Performance

BIIB stock opened at $202.95 on Monday. The company has a current ratio of 1.87, a quick ratio of 1.26 and a debt-to-equity ratio of 0.39. Biogen Inc. has a 12-month low of $124.56 and a 12-month high of $219.72. The stock has a market cap of $29.99 billion, a price-to-earnings ratio of 35.92, a PEG ratio of 6.20 and a beta of 0.17. The business's 50-day moving average is $201.23 and its 200 day moving average is $190.64.

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 the consensus estimate of $2.94 by $0.66. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.46 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%.Biogen's quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the business earned $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, sell-side analysts anticipate that Biogen Inc. will post 12.65 EPS for the current fiscal year.

Key Stories 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

Analyst Ratings Changes

Several equities analysts recently weighed in on BIIB shares. Canaccord Genuity Group lifted their price target on Biogen from $245.00 to $248.00 and gave the company a "buy" rating in a research note on Thursday. Piper Sandler reissued an "overweight" rating on shares of Biogen in a report on Tuesday, July 14th. Sanford C. Bernstein cut their price objective on Biogen from $201.00 to $200.00 in a research report on Thursday, April 30th. UBS Group upped their target price on Biogen from $225.00 to $240.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Morgan Stanley upped their target price on Biogen from $222.00 to $231.00 and gave the stock an "equal weight" rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $223.36.

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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