Dimensional Fund Advisors LP Increases Stock Position in Biogen Inc. $BIIB

Key Points

• Dimensional Fund Advisors LP boosted its Biogen stake by 12.3% in the first quarter, adding 118,474 shares and bringing its position to 1,079,119 shares worth about $197.9 million.
• Several other institutions also increased their Biogen holdings, and institutional investors now own 87.93% of the company’s stock.
• Biogen reported better-than-expected Q1 results, with EPS of $3.57 versus $2.95 expected and revenue of $2.48 billion versus $2.29 billion expected; analysts currently rate the stock a Moderate Buy with an average target price of $220.57.

Dimensional Fund Advisors LP increased its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 12.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,079,119 shares of the biotechnology company's stock after buying an additional 118,474 shares during the period. Dimensional Fund Advisors LP owned 0.73% of Biogen worth $197,881,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in BIIB. Parallel Advisors LLC lifted its position in Biogen by 1.5% in the first quarter. Parallel Advisors LLC now owns 4,367 shares of the biotechnology company's stock valued at $801,000 after purchasing an additional 65 shares during the last quarter. AlphaCentric Advisors LLC grew its stake in shares of Biogen by 5.7% in the first quarter. AlphaCentric Advisors LLC now owns 3,835 shares of the biotechnology company's stock worth $703,000 after purchasing an additional 208 shares during the last quarter. KBC Group NV increased its holdings in Biogen by 339.5% during the 1st quarter. KBC Group NV now owns 234,692 shares of the biotechnology company's stock valued at $43,026,000 after purchasing an additional 181,294 shares during the period. SEB Asset Management AB bought a new position in Biogen during the 1st quarter valued at approximately $7,676,000. Finally, Swiss National Bank raised its position in Biogen by 7.2% during the 1st quarter. Swiss National Bank now owns 430,600 shares of the biotechnology company's stock valued at $78,942,000 after purchasing an additional 28,800 shares during the last quarter. Institutional investors own 87.93% of the company's stock.

Biogen Stock Up 0.8%

Shares of NASDAQ:BIIB opened at $202.19 on Friday. The firm has a market capitalization of $29.85 billion, a PE ratio of 21.69 and a beta of 0.16. The business has a 50 day simple moving average of $199.78 and a two-hundred day simple moving average of $189.85. Biogen Inc. has a 1 year low of $124.56 and a 1 year high of $219.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.06 and a quick ratio of 2.41.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, beating analysts' consensus estimates of $2.95 by $0.62. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.29 billion. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The company's revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. On average, equities analysts predict that Biogen Inc. will post 11.37 EPS for the current year.

Analysts Set New Price Targets

BIIB has been the subject of a number of research analyst reports. UBS Group upgraded Biogen from a "neutral" rating to a "buy" rating and raised their target price for the company from $185.00 to $225.00 in a research note on Wednesday, April 22nd. Sanford C. Bernstein lowered their target price on shares of Biogen from $201.00 to $200.00 in a report on Thursday, April 30th. Zacks Research cut Biogen from a "hold" rating to a "strong sell" rating in a research report on Monday, June 29th. Rothschild & Co Redburn increased their price objective on shares of Biogen from $180.00 to $190.00 in a research report on Thursday, April 30th. Finally, Oppenheimer boosted their price objective on shares of Biogen from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $220.57.

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.

Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc. (NASDAQ:BIIB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.