Biogen Inc. $BIIB Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in Biogen Inc. (NASDAQ:BIIB) by 2.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 788,523 shares of the biotechnology company’s stock after selling 22,583 shares during the period. Bank of New York Mellon Corp’s holdings in Biogen were worth $144,560,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC boosted its holdings in Biogen by 1,793.8% in the fourth quarter. SG Americas Securities LLC now owns 183,829 shares of the biotechnology company’s stock worth $32,352,000 after purchasing an additional 174,122 shares during the period. LSV Asset Management raised its holdings in shares of Biogen by 3.3% during the fourth quarter. LSV Asset Management now owns 316,815 shares of the biotechnology company’s stock worth $55,756,000 after purchasing an additional 9,976 shares during the period. Catalyst Funds Management Pty Ltd bought a new position in shares of Biogen in the 4th quarter worth about $2,006,000. Systematic Financial Management LP lifted its position in shares of Biogen by 256.3% in the 4th quarter. Systematic Financial Management LP now owns 16,640 shares of the biotechnology company’s stock worth $2,928,000 after buying an additional 11,970 shares during the last quarter. Finally, Contrarius Group Holdings Ltd acquired a new position in shares of Biogen in the 4th quarter valued at about $11,431,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Price Performance

NASDAQ BIIB opened at $205.99 on Monday. Biogen Inc. has a 52 week low of $121.05 and a 52 week high of $219.72. The company has a current ratio of 3.06, a quick ratio of 2.41 and a debt-to-equity ratio of 0.34. The stock has a market cap of $30.41 billion, a price-to-earnings ratio of 22.10 and a beta of 0.16. The company has a 50-day moving average price of $199.43 and a two-hundred day moving average price of $189.09.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, beating the consensus estimate of $2.95 by $0.62. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.29 billion. Biogen had a net margin of 13.81% and a return on equity of 12.83%. Biogen’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business earned $3.02 earnings per share. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Analysts forecast that Biogen Inc. will post 13.45 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Biogen from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Freedom Capital upgraded Biogen from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. upped their target price on Biogen from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, April 23rd. Citigroup increased their price target on Biogen from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Biogen in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $220.04.

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.