Biogen Inc. $BIIB Stake Reduced by Fisher Asset Management LLC

Fisher Asset Management LLC decreased its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 3.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 289,137 shares of the biotechnology company’s stock after selling 9,893 shares during the period. Fisher Asset Management LLC owned approximately 0.20% of Biogen worth $36,313,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Greykasell Wealth Strategies Inc. acquired a new stake in Biogen during the first quarter valued at approximately $27,000. Vision Financial Markets LLC bought a new position in shares of Biogen in the first quarter valued at $27,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Biogen during the 2nd quarter valued at $25,000. Zions Bancorporation National Association UT bought a new stake in shares of Biogen during the 1st quarter worth $29,000. Finally, Rothschild Investment LLC boosted its stake in shares of Biogen by 64.7% during the 2nd quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock worth $28,000 after acquiring an additional 88 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Performance

BIIB stock opened at $180.18 on Wednesday. The firm has a 50 day simple moving average of $156.12 and a 200 day simple moving average of $141.10. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $185.17. The stock has a market cap of $26.43 billion, a P/E ratio of 16.42, a P/E/G ratio of 1.49 and a beta of 0.13. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.04 and a current ratio of 2.72.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.92. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.34 billion. Biogen had a net margin of 15.98% and a return on equity of 14.13%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.08 EPS. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. Research analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Biogen in a research report on Monday. Stifel Nicolaus upgraded Biogen from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $144.00 to $202.00 in a report on Thursday, November 6th. Citigroup reiterated a “neutral” rating on shares of Biogen in a report on Wednesday, September 24th. Sanford C. Bernstein lifted their target price on shares of Biogen from $155.00 to $157.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. Finally, Morgan Stanley upped their price target on shares of Biogen from $144.00 to $149.00 and gave the company an “equal weight” rating in a research report on Friday, October 10th. Ten research analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $179.73.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer’s disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.