LSV Asset Management Buys 9,976 Shares of Biogen Inc. $BIIB

Key Points

• LSV Asset Management increased its Biogen stake by 3.3% in the fourth quarter, buying 9,976 additional shares and bringing its total holdings to 316,815 shares worth about $55.8 million.
• Biogen’s latest earnings beat expectations, with EPS of $3.57 versus the $2.95 consensus and revenue of $2.48 billion versus $2.29 billion expected.
• Wall Street remains generally upbeat on the stock, with a Moderate Buy consensus and an average price target of $215.62, even as the company faces some investor concern tied to a failed Parkinson’s trial.

LSV Asset Management boosted its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 3.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 316,815 shares of the biotechnology company's stock after buying an additional 9,976 shares during the quarter. LSV Asset Management owned approximately 0.22% of Biogen worth $55,756,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Advisory Services Network LLC increased its position in Biogen by 3.9% during the 3rd quarter. Advisory Services Network LLC now owns 1,792 shares of the biotechnology company's stock valued at $251,000 after purchasing an additional 68 shares during the period. Davis Investment Partners LLC increased its position in Biogen by 1.7% during the 4th 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 increased its position in Biogen by 4.5% during the 4th 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. CIBC Private Wealth Group LLC increased its position in Biogen by 8.1% during the 3rd 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. Finally, Parkside Financial Bank & Trust increased its position in Biogen by 5.6% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,739 shares of the biotechnology company's stock valued at $244,000 after purchasing an additional 92 shares during the period. Hedge funds and other institutional investors own 87.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BIIB. Royal Bank Of Canada raised their target price on shares of Biogen from $213.00 to $222.00 and gave the company an "outperform" rating in a research report on Thursday, April 30th. Truist Financial cut their target price on shares of Biogen from $193.00 to $189.00 and set a "hold" rating on the stock in a research report on Monday, April 13th. Freedom Capital raised shares of Biogen from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 1st. Stifel Nicolaus raised their target price on shares of Biogen from $202.00 to $214.00 and gave the company a "buy" rating in a research report on Friday, February 6th. Finally, Barclays assumed coverage on shares of Biogen in a research report on Thursday, February 19th. They set an "equal weight" rating and a $185.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $215.62.

Biogen Stock Up 2.3%

NASDAQ:BIIB opened at $193.76 on Friday. The company has a market cap of $28.61 billion, a PE ratio of 20.79, a P/E/G ratio of 1.71 and a beta of 0.19. Biogen Inc. has a twelve month low of $121.05 and a twelve month 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 company's 50 day moving average is $185.48 and its two-hundred day moving average is $180.75.

Biogen (NASDAQ:BIIB - Get Free Report) last released its 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. The company 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%. Biogen's revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Analysts anticipate that Biogen Inc. will post 14.18 EPS for the current year.

Key Biogen News

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Biogen’s stock may be getting some support from analyst commentary suggesting the recent sell-off could be overdone, with one report saying the trial results were better than first reported and that longer-term optimism remains intact. Biogen Stock Slides After Trial Miss, But Analysts Stay Bullish
• Neutral Sentiment: Denali said it will keep running a separate Phase 2a BEACON study in carriers of a pathogenic LRRK2 variant, which preserves some optionality for the broader program but does not offset the failure in idiopathic Parkinson’s disease. Biogen and Denali Therapeutics Provide Update on Phase 2b LUMA Study of BIIB122 (DNL151) in Early-Stage Parkinson's Disease
• Negative Sentiment: The failed Parkinson’s trial has also sparked investor concern and legal scrutiny, with multiple alerts and investigations following the disclosure, adding another overhang to Biogen shares. Investor Alert: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Biogen Inc. - BIIB

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.

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.