Healthcare of Ontario Pension Plan Trust Fund Sells 33,522 Shares of Biogen Inc. $BIIB

Key Points

• Healthcare of Ontario Pension Plan Trust Fund cut its Biogen stake by 78.4% in the first quarter, selling 33,522 shares and retaining 9,220 shares worth approximately $1.69 million. Institutional investors collectively own 87.93% of BIIB.
• Biogen reported a second-quarter revenue and adjusted EPS beat, with revenue up 3.4% year over year to $2.74 billion and adjusted EPS of $3.60 versus the $2.94 consensus estimate. Management raised its revenue outlook and cited momentum in newer medicines and strategic acquisitions.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and a $223.36 average price target, though reported profitability weakened sharply as net income fell to $97.5 million and diluted EPS declined to $0.66 from $4.33 a year earlier.

Healthcare of Ontario Pension Plan Trust Fund lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 78.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,220 shares of the biotechnology company's stock after selling 33,522 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund's holdings in Biogen were worth $1,690,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIIB. Empowered Funds LLC lifted its holdings in shares of Biogen by 64.9% during the 1st quarter. Empowered Funds LLC now owns 7,054 shares of the biotechnology company's stock valued at $965,000 after purchasing an additional 2,777 shares in the last quarter. Focus Partners Wealth grew its position in shares of Biogen by 172.2% in the 1st quarter. Focus Partners Wealth now owns 10,173 shares of the biotechnology company's stock valued at $1,392,000 after purchasing an additional 6,436 shares during the period. Sivia Capital Partners LLC bought a new stake in Biogen during the 2nd quarter worth approximately $216,000. Cerity Partners LLC raised its holdings in Biogen by 15.3% during the 2nd quarter. Cerity Partners LLC now owns 46,552 shares of the biotechnology company's stock worth $5,847,000 after buying an additional 6,184 shares during the period. Finally, NewEdge Advisors LLC raised its holdings in Biogen by 13.4% during the 2nd quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company's stock worth $336,000 after buying an additional 316 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BIIB. Morgan Stanley upped their price target on shares of Biogen from $222.00 to $231.00 and gave the company an "equal weight" rating in a report on Thursday. JPMorgan Chase & Co. raised their price objective on shares of Biogen from $175.00 to $185.00 and gave the stock a "neutral" rating in a report on Thursday, April 23rd. Mizuho cut their price objective on shares of Biogen from $236.00 to $221.00 and set an "outperform" rating on the stock in a research report on Monday, June 15th. Wall Street Zen lowered shares of Biogen from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Argus upgraded Biogen to a "hold" rating in a report on Thursday, April 9th. 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 given a Sell rating to the company's stock. Based on data from MarketBeat, Biogen presently has a consensus rating of "Moderate Buy" and a consensus price target of $223.36.

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

Biogen Price Performance

Shares of BIIB opened at $202.95 on Friday. The stock has a market capitalization of $29.99 billion, a P/E ratio of 35.92, a P/E/G ratio of 6.28 and a beta of 0.16. Biogen Inc. has a twelve month low of $124.56 and a twelve month high of $219.72. The company has a 50 day moving average of $201.23 and a 200-day moving average of $190.60. The company has a quick ratio of 2.41, a current ratio of 1.87 and a debt-to-equity ratio of 0.39.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, topping analysts' consensus estimates of $2.94 by $0.66. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the previous year, the firm posted $5.47 earnings per share. The firm's revenue for the quarter was up 3.4% on a year-over-year basis. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, equities research analysts forecast that Biogen Inc. will post 12.65 EPS for the current fiscal year.

About Biogen

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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