NewEdge Advisors LLC Trims Position in Biogen Inc. $BIIB

Key Points

• NewEdge Advisors cut its Biogen position by 38.1% in the first quarter, selling 8,017 shares and retaining 13,031 shares valued at approximately $2.39 million. Institutional investors collectively own 87.93% of Biogen.
• Biogen reported quarterly EPS of $3.60, beating the $2.94 consensus estimate, while revenue reached $2.74 billion, up 3.4% year over year.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $227.07, compared with the stock’s reported price of $209.83.

NewEdge Advisors LLC decreased its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 38.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,031 shares of the biotechnology company's stock after selling 8,017 shares during the quarter. NewEdge Advisors LLC's holdings in Biogen were worth $2,389,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. LSV Asset Management lifted its stake in shares of Biogen by 3.3% in the 4th quarter. LSV Asset Management now owns 316,815 shares of the biotechnology company's stock valued at $55,756,000 after purchasing an additional 9,976 shares in the last quarter. Catalyst Funds Management Pty Ltd acquired a new stake in Biogen during the 4th quarter worth approximately $2,006,000. Orbimed Advisors LLC purchased a new position in Biogen in the first quarter valued at approximately $11,293,000. Systematic Financial Management LP raised its holdings in Biogen by 256.3% in the fourth quarter. Systematic Financial Management LP now owns 16,640 shares of the biotechnology company's stock valued at $2,928,000 after buying an additional 11,970 shares during the period. Finally, Contrarius Group Holdings Ltd acquired a new position in Biogen during the fourth quarter valued at approximately $11,431,000. Hedge funds and other institutional investors own 87.93% of the company's stock.

Biogen Price Performance

BIIB opened at $209.83 on Friday. Biogen Inc. has a twelve month low of $131.52 and a twelve month high of $219.72. The firm has a market cap of $31.00 billion, a price-to-earnings ratio of 37.14, a PEG ratio of 6.51 and a beta of 0.17. The company has a current ratio of 1.87, a quick ratio of 1.26 and a debt-to-equity ratio of 0.39. The company has a fifty day simple moving average of $203.76 and a 200 day simple moving average of $193.10.

Biogen (NASDAQ:BIIB - Get Free Report) last issued 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. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The firm's revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Equities research analysts expect that Biogen Inc. will post 12.5 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on BIIB. Canaccord Genuity Group raised their target price on shares of Biogen from $245.00 to $248.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Needham & Company LLC upped their price target on shares of Biogen from $255.00 to $256.00 and gave the stock a "buy" rating in a research report on Monday, June 29th. Mizuho increased their price target on Biogen from $221.00 to $241.00 and gave the company an "outperform" rating in a report on Tuesday, August 4th. Bank of America cut their price objective on Biogen from $217.00 to $215.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 21st. Finally, Guggenheim upped their target price on Biogen from $260.00 to $280.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Biogen has a consensus rating of "Moderate Buy" and an average price target of $227.07.

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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