CIBC Asset Management Inc Trims Stock Position in Biogen Inc. $BIIB

Key Points

• CIBC Asset Management Inc. reduced its Biogen stake by 23.6% in the fourth quarter, selling 10,666 shares and leaving it with 34,447 shares valued at about $6.06 million.
• Biogen’s pipeline news remains a positive driver, with salanersen receiving FDA Breakthrough Therapy Designation for SMA and additional progress reported on BIIB115 in post-gene therapy SMA.
• The stock has support from Wall Street and solid recent results, as Biogen beat quarterly EPS and revenue estimates, while analysts maintain a Moderate Buy consensus with an average price target of $215.81.

CIBC Asset Management Inc trimmed its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 23.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,447 shares of the biotechnology company's stock after selling 10,666 shares during the quarter. CIBC Asset Management Inc's holdings in Biogen were worth $6,062,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Rothschild Investment LLC grew its holdings in Biogen by 12.3% in the fourth quarter. Rothschild Investment LLC now owns 513 shares of the biotechnology company's stock worth $90,000 after purchasing an additional 56 shares during the last quarter. Advisory Services Network LLC grew its holdings in shares of Biogen by 3.9% during the third quarter. Advisory Services Network LLC now owns 1,792 shares of the biotechnology company's stock valued at $251,000 after buying an additional 68 shares during the last quarter. Davis Investment Partners LLC lifted its position in Biogen by 1.7% during the fourth quarter. Davis Investment Partners LLC now owns 4,374 shares of the biotechnology company's stock valued at $778,000 after purchasing an additional 71 shares during the period. Optas LLC lifted its position in Biogen by 4.5% during the fourth quarter. Optas LLC now owns 1,706 shares of the biotechnology company's stock valued at $300,000 after purchasing an additional 73 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its position in Biogen by 8.1% during the third quarter. CIBC Private Wealth Group LLC now owns 1,189 shares of the biotechnology company's stock valued at $167,000 after purchasing an additional 89 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Key Biogen News

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Biogen’s salanersen won FDA Breakthrough Therapy Designation for SMA, with early phase 1b data suggesting meaningful motor improvements and a once-yearly dosing profile that could make the therapy stand out commercially. BIIB's Next-Gen SMA Therapy Salanersen Wins FDA's Breakthrough Tag
• Positive Sentiment: Biogen also highlighted progress on BIIB115 in post-gene therapy SMA, adding to investor optimism that the company has multiple shots on goal in a key neurodegeneration market. Biogen Advances BIIB115 in Post–Gene Therapy SMA: Early Signals for Long‑Term Growth
• Positive Sentiment: Biogen and UCB presented additional data on dapirolizumab pegol in lupus, showing reduced flare rates and lower steroid use, which supports the drug’s potential in a large autoimmune market. UCB and Biogen build steroid-sparing case for lupus drug
• Neutral Sentiment: Biogen is also facing legal overhang after law firms announced investor investigations and fraud-related claims, which could keep sentiment cautious even as pipeline news improves. BIIB Investors Have Opportunity to Join Biogen Inc. Fraud Investigation with the Schall Law Firm
• Neutral Sentiment: A separate investor alert from Pomerantz also flagged a claims investigation into Biogen, adding another potential risk factor, though it does not yet indicate any formal enforcement action. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Biogen Inc. - BIIB

Biogen Stock Down 0.6%

Biogen stock opened at $195.34 on Friday. The stock's fifty day simple moving average is $187.60 and its 200-day simple moving average is $183.33. The company has a current ratio of 3.06, a quick ratio of 2.41 and a debt-to-equity ratio of 0.34. Biogen Inc. has a twelve month low of $121.05 and a twelve month high of $205.97. The firm has a market capitalization of $28.84 billion, a P/E ratio of 20.96, a P/E/G ratio of 1.72 and a beta of 0.20.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share for the quarter, topping the consensus estimate of $2.95 by $0.62. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the prior year, the business earned $3.02 EPS. Biogen's revenue 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 analysts expect that Biogen Inc. will post 14.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BIIB has been the subject of a number of analyst reports. Evercore initiated coverage on shares of Biogen in a research report on Friday, May 15th. They issued an "outperform" rating for the company. Barclays started coverage on shares of Biogen in a research note on Thursday, February 19th. They set an "equal weight" rating and a $185.00 target price for the company. JPMorgan Chase & Co. upped their price objective on shares of Biogen from $175.00 to $185.00 and gave the company a "neutral" rating in a research note on Thursday, April 23rd. The Goldman Sachs Group upped their price objective on shares of Biogen from $231.00 to $238.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Finally, UBS Group upgraded shares of Biogen from a "neutral" rating to a "buy" rating and boosted their target price for the company from $185.00 to $225.00 in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Biogen has a consensus rating of "Moderate Buy" and an average price target of $215.81.

Biogen Company 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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