The Manufacturers Life Insurance Company Sells 10,628 Shares of Biogen Inc. $BIIB

The Manufacturers Life Insurance Company lowered its stake in Biogen Inc. (NASDAQ:BIIB) by 10.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 95,108 shares of the biotechnology company’s stock after selling 10,628 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.06% of Biogen worth $17,436,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in Biogen in the fourth quarter valued at approximately $464,408,000. Boston Partners acquired a new stake in shares of Biogen in the 4th quarter valued at approximately $302,815,000. Fred Alger Management LLC grew its stake in shares of Biogen by 39,074.8% in the fourth quarter. Fred Alger Management LLC now owns 798,774 shares of the biotechnology company’s stock valued at $140,576,000 after buying an additional 796,735 shares in the last quarter. Employees Provident Fund Board bought a new position in shares of Biogen in the fourth quarter valued at $123,931,000. Finally, Orion Porfolio Solutions LLC increased its holdings in Biogen by 6,828.4% during the second quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company’s stock worth $64,965,000 after buying an additional 509,809 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Biogen News Roundup

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Biogen reported second-quarter revenue of $2.74 billion, up 3.4% year over year and ahead of consensus estimates of approximately $2.46 billion. Growth was led by newer products and the company’s growth portfolio, helping adjusted EPS reach $3.60 versus the $2.94 analyst estimate. Biogen beats quarterly estimates as newer drugs drive growth
• Positive Sentiment: Management raised its revenue outlook and highlighted continued momentum in newer medicines and strategic acquisitions, supporting the view that Biogen is gradually reducing its reliance on older products. Biogen raises revenue outlook as growth portfolio drives Q2 beat
• Positive Sentiment: Several analysts became more constructive after the results. TD Cowen raised its price target to $225 and upgraded the stock to Buy, while Morgan Stanley increased its target to $231, although it retained an Equal Weight rating. Barclays also expects the shares to rise.
• Neutral Sentiment: Wedbush raised its price target from $201 to $215 but maintained a Neutral rating, and Piper Sandler reaffirmed its Buy rating. Zacks upgraded Biogen from Strong Sell to Hold, indicating improving sentiment but not broad analyst conviction.
• Negative Sentiment: Reported profitability deteriorated substantially. Second-quarter net income fell to $97.5 million, while diluted EPS from continuing operations declined to $0.66 from $4.33 a year earlier; first-half net income also dropped to $417 million from $875.3 million. The sharp gap between revenue growth and reported earnings is raising concerns that profitability may be peaking. Biogen earnings and profitability analysis

Biogen Trading Down 2.4%

BIIB stock opened at $202.95 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.87 and a quick ratio of 2.41. The company has a fifty day moving average price of $201.23 and a two-hundred day moving average price of $190.60. Biogen Inc. has a one year low of $124.56 and a one year high of $219.72. The stock has a market cap of $29.99 billion, a price-to-earnings ratio of 35.92, a price-to-earnings-growth ratio of 6.28 and a beta of 0.16.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, beating the consensus estimate of $2.94 by $0.66. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Equities analysts anticipate that Biogen Inc. will post 12.65 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. UBS Group upped their price target on shares of Biogen from $225.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday. Sanford C. Bernstein decreased their price objective on shares of Biogen from $201.00 to $200.00 in a research report on Thursday, April 30th. Bank of America lowered their price objective on shares of Biogen from $217.00 to $215.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 21st. JPMorgan Chase & Co. upped their target price on shares of Biogen from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, April 23rd. Finally, Citigroup raised their target price on shares of Biogen from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $223.36.

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.