Primecap Management Co. CA Has $2.09 Billion Stock Holdings in Biogen Inc. $BIIB

Primecap Management Co. CA trimmed its position in Biogen Inc. (NASDAQ:BIIB) by 5.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,954,697 shares of the biotechnology company’s stock after selling 847,425 shares during the quarter. Biogen accounts for 1.6% of Primecap Management Co. CA’s holdings, making the stock its 16th largest holding. Primecap Management Co. CA owned 10.19% of Biogen worth $2,094,854,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CVA Family Office LLC increased its stake in shares of Biogen by 18.1% in the 3rd quarter. CVA Family Office LLC now owns 464 shares of the biotechnology company’s stock valued at $65,000 after purchasing an additional 71 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in Biogen by 22.5% in the third quarter. TD Private Client Wealth LLC now owns 414 shares of the biotechnology company’s stock valued at $58,000 after buying an additional 76 shares in the last quarter. CX Institutional boosted its stake in Biogen by 6.1% in the third quarter. CX Institutional now owns 1,453 shares of the biotechnology company’s stock valued at $204,000 after buying an additional 83 shares in the last quarter. Rothschild Investment LLC grew its position in Biogen by 64.7% in the second quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 88 shares during the last quarter. Finally, True Wealth Design LLC raised its stake in Biogen by 62.9% during the third quarter. True Wealth Design LLC now owns 233 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 90 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Insider Activity at Biogen

In other news, insider Priya Singhal sold 2,660 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $199.83, for a total value of $531,547.80. Following the completion of the sale, the insider owned 8,043 shares of the company’s stock, valued at approximately $1,607,232.69. This represents a 24.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BIIB shares. Wolfe Research set a $231.00 price target on shares of Biogen in a research note on Monday, February 9th. Wall Street Zen downgraded shares of Biogen from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. HSBC restated a “reduce” rating and issued a $143.00 target price (down from $144.00) on shares of Biogen in a research report on Wednesday, December 10th. Wedbush upped their price target on shares of Biogen from $178.00 to $187.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Finally, Truist Financial increased their price target on Biogen from $190.00 to $193.00 and gave the company a “hold” rating in a research note on Monday, February 9th. Twelve research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $205.04.

Biogen Trading Down 2.3%

Shares of NASDAQ BIIB opened at $190.73 on Thursday. The firm has a 50 day moving average price of $181.28 and a two-hundred day moving average price of $162.65. The stock has a market cap of $27.99 billion, a P/E ratio of 21.65, a price-to-earnings-growth ratio of 1.55 and a beta of 0.16. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $202.41. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.03 and a current ratio of 2.68.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Friday, February 6th. The biotechnology company reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.38. The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.21 billion. Biogen had a net margin of 13.07% and a return on equity of 12.64%. Biogen’s revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.44 earnings per share. Biogen has set its FY 2026 guidance at 15.250-16.250 EPS. As a group, equities analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.

Biogen 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.