Profund Advisors LLC Reduces Holdings in Biogen Inc. $BIIB

Profund Advisors LLC trimmed its position in shares of Biogen Inc. (NASDAQ:BIIB) by 41.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 14,200 shares of the biotechnology company’s stock after selling 9,931 shares during the quarter. Profund Advisors LLC’s holdings in Biogen were worth $2,499,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Empowered Funds LLC boosted its stake in shares of Biogen by 64.9% during the first quarter. Empowered Funds LLC now owns 7,054 shares of the biotechnology company’s stock valued at $965,000 after purchasing an additional 2,777 shares during the period. Focus Partners Wealth raised its holdings in shares of Biogen by 172.2% in the first quarter. Focus Partners Wealth now owns 10,173 shares of the biotechnology company’s stock valued at $1,392,000 after acquiring an additional 6,436 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Biogen in the second quarter valued at about $216,000. Cerity Partners LLC raised its holdings in shares of Biogen by 15.3% in the second quarter. Cerity Partners LLC now owns 46,552 shares of the biotechnology company’s stock valued at $5,847,000 after acquiring an additional 6,184 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Biogen by 13.4% in the second quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company’s stock valued at $336,000 after acquiring an additional 316 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on BIIB. TD Cowen boosted their target price on shares of Biogen from $175.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Citigroup upped their price objective on shares of Biogen from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Truist Financial cut their price objective on shares of Biogen from $193.00 to $189.00 and set a “hold” rating on the stock in a report on Monday, April 13th. Evercore assumed coverage on shares of Biogen in a report on Friday, May 15th. They issued an “outperform” rating on the stock. Finally, Mizuho increased their price target on shares of Biogen from $207.00 to $236.00 and gave the stock an “outperform” rating in a report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $215.62.

Biogen Trading Down 0.7%

Shares of NASDAQ:BIIB opened at $190.56 on Wednesday. The business’s 50 day moving average price is $185.40 and its 200-day moving average price is $180.14. Biogen Inc. has a 1 year low of $121.05 and a 1 year high of $205.97. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.06 and a quick ratio of 2.41. The firm has a market capitalization of $28.13 billion, a price-to-earnings ratio of 20.45, a price-to-earnings-growth ratio of 1.69 and a beta of 0.19.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, beating the consensus estimate of $2.95 by $0.62. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the prior year, the company earned $3.02 EPS. The firm’s revenue was up 1.9% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. On average, equities 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.