ICICI Prudential Asset Management Co Ltd Has $1.67 Million Stock Holdings in Biogen Inc. $BIIB

Key Points

• ICICI Prudential Asset Management cut its Biogen stake by 56.4% in the fourth quarter, selling 12,241 shares and ending with 9,462 shares valued at about $1.67 million.
• Biogen still has heavy institutional backing, with several large investors increasing positions and institutions/hedge funds owning 87.93% of the company’s stock.
• The company reported better-than-expected quarterly results, with EPS of $3.57 versus $2.95 expected and revenue of $2.48 billion; analysts currently rate the stock a Moderate Buy with an average target price of $217.26.

ICICI Prudential Asset Management Co Ltd lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 56.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 9,462 shares of the biotechnology company's stock after selling 12,241 shares during the period. ICICI Prudential Asset Management Co Ltd's holdings in Biogen were worth $1,665,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Norges Bank acquired a new stake in Biogen during the fourth quarter worth about $464,408,000. Orion Porfolio Solutions LLC raised its holdings in Biogen by 6,828.4% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company's stock valued at $64,965,000 after acquiring an additional 509,809 shares in the last quarter. Caisse de depot et placement du Quebec raised its holdings in Biogen by 718.2% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 569,253 shares of the biotechnology company's stock valued at $79,741,000 after acquiring an additional 499,676 shares in the last quarter. AQR Capital Management LLC raised its holdings in Biogen by 30.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,783,581 shares of the biotechnology company's stock valued at $248,809,000 after acquiring an additional 418,776 shares in the last quarter. Finally, Alyeska Investment Group L.P. raised its holdings in Biogen by 66.1% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 87.93% of the company's stock.

Biogen Trading Up 2.9%

Shares of BIIB opened at $199.96 on Friday. Biogen Inc. has a 1 year low of $121.05 and a 1 year high of $205.97. The company has a current ratio of 3.06, a quick ratio of 2.41 and a debt-to-equity ratio of 0.34. The stock has a 50 day simple moving average of $188.40 and a 200-day simple moving average of $184.20. The stock has a market cap of $29.52 billion, a PE ratio of 21.45 and a beta of 0.20.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.95 by $0.62. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The business 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 firm posted $3.02 EPS. Biogen's quarterly revenue was up 1.9% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. On average, sell-side analysts predict that Biogen Inc. will post 14.18 EPS for the current fiscal year.

Key Headlines Impacting Biogen

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: At Biogen’s 2026 annual meeting, shareholders backed the board, auditor, and pay-related proposals, signaling continued investor support for management and governance. Biogen Shareholders Back Board, Auditor and Pay Policies
• Positive Sentiment: Biogen has recently outperformed other biotech stocks, with commentary noting that analysts remain reasonably upbeat about its prospects. How Is Biogen’s Stock Performance Compared to Other Biotech Stocks?
• Neutral Sentiment: Denali Therapeutics highlighted that it halted joint work with Biogen on BIIB122 for Parkinson’s disease after Phase 2b results, which appears to be a program setback but is not necessarily a direct blow to Biogen’s broader business. What Makes Denali Therapeutics (DNLI) One of the Best AI Driven Biotech Names
• Negative Sentiment: Two shareholder-law firms, Schall and Pomerantz, announced investigations into possible false or misleading statements by Biogen, increasing the risk of litigation headlines and potential investor uncertainty. BIIB Investors Have Opportunity to Join Biogen Inc. Fraud Investigation with the Schall Law Firm INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Biogen Inc. - BIIB
• Negative Sentiment: MarketWatch also noted that Biogen underperformed peers on Wednesday, suggesting the stock has been lagging some competitors despite its recent longer-term strength. Biogen Inc. stock underperforms Wednesday when compared to competitors

Analysts Set New Price Targets

Several equities analysts have commented on the company. Oppenheimer upped their price target on Biogen from $275.00 to $300.00 and gave the company an "outperform" rating in a report on Thursday, May 14th. Barclays assumed coverage on Biogen in a report on Thursday, February 19th. They issued an "equal weight" rating and a $185.00 price target for the company. Piper Sandler reaffirmed an "overweight" rating and issued a $225.00 price target (up from $214.00) on shares of Biogen in a report on Friday, May 15th. Wedbush upped their price target on Biogen from $191.00 to $196.00 and gave the company a "neutral" rating in a report on Thursday, April 30th. Finally, Wall Street Zen raised Biogen from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $217.26.

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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