Fisher Asset Management LLC Sells 9,893 Shares of Biogen Inc. $BIIB

Fisher Asset Management LLC lowered its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 3.3% during the second quarter, Holdings Channel reports. The firm owned 289,137 shares of the biotechnology company’s stock after selling 9,893 shares during the period. Fisher Asset Management LLC’s holdings in Biogen were worth $36,313,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Wedmont Private Capital increased its position in Biogen by 3.8% during the second quarter. Wedmont Private Capital now owns 2,190 shares of the biotechnology company’s stock worth $291,000 after buying an additional 81 shares during the last quarter. Rothschild Investment LLC increased its holdings in shares of Biogen by 64.7% during the 2nd 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. Legacy Wealth Asset Management LLC raised its stake in shares of Biogen by 3.8% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 2,511 shares of the biotechnology company’s stock valued at $315,000 after acquiring an additional 91 shares in the last quarter. TIAA Trust National Association lifted its holdings in Biogen by 2.3% in the 2nd quarter. TIAA Trust National Association now owns 4,443 shares of the biotechnology company’s stock worth $558,000 after purchasing an additional 100 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Biogen by 21.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 617 shares of the biotechnology company’s stock worth $77,000 after purchasing an additional 107 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Up 1.3%

NASDAQ BIIB opened at $180.18 on Wednesday. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $185.17. The stock has a market cap of $26.43 billion, a PE ratio of 16.42, a PEG ratio of 1.49 and a beta of 0.13. The firm has a 50-day simple moving average of $156.12 and a 200 day simple moving average of $141.10. 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 posted its quarterly earnings results on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, beating the consensus estimate of $3.89 by $0.92. Biogen had a return on equity of 14.13% and a net margin of 15.98%.The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the prior year, the firm posted $4.08 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. On average, research analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.

Wall Street Analyst Weigh In

BIIB has been the topic of a number of recent analyst reports. William Blair reissued an “outperform” rating on shares of Biogen in a research report on Wednesday, September 24th. Rothschild & Co Redburn lifted their target price on shares of Biogen from $149.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Citigroup restated a “neutral” rating on shares of Biogen in a report on Wednesday, September 24th. Guggenheim lifted their price objective on Biogen from $165.00 to $185.00 in a research note on Friday, October 31st. Finally, Morgan Stanley increased their target price on Biogen from $144.00 to $149.00 and gave the company an “equal weight” rating in a research note on Friday, October 10th. Ten equities research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Biogen currently has an average rating of “Hold” and a consensus 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.