Meitav Investment House Ltd. Decreases Stake in Biogen Inc. $BIIB

Meitav Investment House Ltd. lowered its stake in Biogen Inc. (NASDAQ:BIIB) by 37.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,972 shares of the biotechnology company’s stock after selling 12,490 shares during the period. Meitav Investment House Ltd.’s holdings in Biogen were worth $3,845,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Reflection Asset Management purchased a new position in Biogen in the 4th quarter worth $25,000. WPG Advisers LLC grew its stake in Biogen by 417.9% during 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 last quarter. First Horizon Corp purchased a new stake in Biogen during the 4th quarter valued at about $30,000. Root Financial Partners LLC increased its holdings in shares of Biogen by 198.4% in the fourth 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. Finally, MV Capital Management Inc. purchased a new position in shares of Biogen in the fourth quarter worth about $34,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Performance

Shares of NASDAQ BIIB traded down $0.24 during midday trading on Tuesday, reaching $208.22. 265,000 shares of the stock were exchanged, compared to its average volume of 1,256,111. The firm has a market cap of $30.74 billion, a price-to-earnings ratio of 22.53 and a beta of 0.16. Biogen Inc. has a twelve month low of $121.05 and a twelve month high of $219.72. The firm has a 50-day simple moving average of $197.02 and a two-hundred day simple moving average of $187.37. The company has a quick ratio of 2.41, a current ratio of 3.06 and a debt-to-equity ratio of 0.34.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.95 by $0.62. The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. As a group, analysts anticipate that Biogen Inc. will post 13.95 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on BIIB shares. Wall Street Zen raised Biogen from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Wedbush increased their price target on shares of Biogen from $191.00 to $196.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Argus raised shares of Biogen to a “hold” rating in a research report on Thursday, April 9th. Weiss Ratings upgraded shares of Biogen from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Finally, Freedom Capital raised shares of Biogen from a “hold” rating to a “strong-buy” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $218.22.

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.