Bank of New York Mellon Corp Lowers Stock Position in Biogen Inc. $BIIB

Bank of New York Mellon Corp reduced its position in Biogen Inc. (NASDAQ:BIIB) by 2.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 788,523 shares of the biotechnology company’s stock after selling 22,583 shares during the period. Bank of New York Mellon Corp owned approximately 0.53% of Biogen worth $144,560,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of BIIB. Reflection Asset Management purchased a new stake in Biogen during the fourth quarter worth approximately $25,000. WPG Advisers LLC raised its stake in shares of Biogen by 417.9% in the 4th quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 117 shares during the period. First Horizon Corp purchased a new position in shares of Biogen in the 4th quarter valued at $30,000. WFA of San Diego LLC acquired a new position in shares of Biogen during the 2nd quarter valued at $32,000. Finally, Root Financial Partners LLC lifted its holdings in shares of Biogen by 198.4% during the 4th quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Stock Performance

NASDAQ:BIIB opened at $205.99 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.41 and a current ratio of 3.06. Biogen Inc. has a one year low of $121.05 and a one year high of $219.72. The business’s 50-day simple moving average is $199.43 and its 200 day simple moving average is $189.09. The stock has a market cap of $30.41 billion, a price-to-earnings ratio of 22.10 and a beta of 0.16.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $2.29 billion. During the same quarter last year, the firm earned $3.02 EPS. Biogen’s quarterly revenue was up 1.9% on a year-over-year basis. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. As a group, sell-side analysts predict that Biogen Inc. will post 13.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BIIB has been the subject of a number of recent research reports. Royal Bank Of Canada increased their target price on Biogen from $227.00 to $242.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. UBS Group raised Biogen from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $185.00 to $225.00 in a research report on Wednesday, April 22nd. HC Wainwright restated a “buy” rating on shares of Biogen in a report on Thursday, May 14th. Weiss Ratings raised shares of Biogen from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Finally, Freedom Capital upgraded shares of Biogen from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $220.04.

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.