Biogen Inc. $BIIB Shares Purchased by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. lifted its position in Biogen Inc. (NASDAQ:BIIB) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,780 shares of the biotechnology company’s stock after purchasing an additional 9,160 shares during the period. Letko Brosseau & Associates Inc. owned about 0.09% of Biogen worth $22,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. WPG Advisers LLC lifted its stake in shares of Biogen by 417.9% in the 4th quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 117 shares during the period. First Horizon Corp acquired a new position in shares of Biogen in the 4th quarter valued at $30,000. Root Financial Partners LLC lifted its stake in shares of Biogen by 198.4% in the 4th quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 123 shares during the period. GoalVest Advisory LLC acquired a new position in shares of Biogen in the 4th quarter valued at $35,000. Finally, Accredited Wealth Management LLC lifted its stake in shares of Biogen by 1,233.3% in the 3rd quarter. Accredited Wealth Management LLC now owns 200 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 185 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BIIB has been the subject of a number of research analyst reports. Truist Financial reduced their price objective on shares of Biogen from $193.00 to $189.00 and set a “hold” rating for the company in a research report on Monday, April 13th. Sanford C. Bernstein reduced their price objective on shares of Biogen from $201.00 to $200.00 in a research report on Thursday, April 30th. Weiss Ratings upgraded shares of Biogen from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Guggenheim upped their price objective on shares of Biogen from $246.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Piper Sandler restated an “overweight” rating and set a $225.00 price objective (up from $214.00) on shares of Biogen in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $217.26.

Biogen Stock Performance

NASDAQ:BIIB opened at $199.10 on Wednesday. Biogen Inc. has a fifty-two week low of $121.05 and a fifty-two week high of $205.97. The stock has a market capitalization of $29.40 billion, a PE ratio of 21.36 and a beta of 0.20. The company has a fifty day moving average of $187.94 and a two-hundred day moving average of $183.85. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.41 and a current ratio of 3.06.

Biogen (NASDAQ:BIIB) last released 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 net margin of 13.81% and a return on equity of 12.83%. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the prior year, the firm earned $3.02 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. As a group, research analysts forecast that Biogen Inc. will post 14.18 earnings per share for the current fiscal year.

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.