Renaissance Technologies LLC Sells 195,800 Shares of Biogen Inc. $BIIB

Renaissance Technologies LLC decreased its position in Biogen Inc. (NASDAQ:BIIB) by 49.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 203,396 shares of the biotechnology company’s stock after selling 195,800 shares during the period. Renaissance Technologies LLC’s holdings in Biogen were worth $37,289,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Biogen by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 17,447,092 shares of the biotechnology company’s stock worth $3,070,514,000 after buying an additional 157,857 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Biogen by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 4,199,399 shares of the biotechnology company’s stock valued at $736,435,000 after acquiring an additional 130,618 shares during the last quarter. Norges Bank bought a new stake in Biogen during the fourth quarter worth $464,408,000. Invesco Ltd. boosted its position in Biogen by 4.2% in the third quarter. Invesco Ltd. now owns 2,418,127 shares of the biotechnology company’s stock worth $338,731,000 after purchasing an additional 98,001 shares during the last quarter. Finally, Morgan Stanley boosted its position in Biogen by 3.3% in the fourth quarter. Morgan Stanley now owns 2,325,013 shares of the biotechnology company’s stock worth $409,180,000 after purchasing an additional 73,478 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Piper Sandler reaffirmed an “overweight” rating on shares of Biogen in a research report on Tuesday, July 14th. Rothschild & Co Redburn boosted their price target on shares of Biogen from $180.00 to $190.00 in a report on Thursday, April 30th. UBS Group upgraded shares of Biogen from a “neutral” rating to a “buy” rating and increased their price target for the company from $185.00 to $225.00 in a research report on Wednesday, April 22nd. Evercore started coverage on shares of Biogen in a report on Friday, May 15th. They set an “outperform” rating for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Biogen from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Biogen currently has an average rating of “Moderate Buy” and an average price target of $220.57.

Biogen Stock Performance

Shares of BIIB opened at $200.14 on Tuesday. Biogen Inc. has a 1 year low of $124.56 and a 1 year high of $219.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.06 and a quick ratio of 2.41. The stock’s fifty day moving average price is $199.95 and its two-hundred day moving average price is $190.08. The firm has a market cap of $29.55 billion, a PE ratio of 21.47 and a beta of 0.16.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share for the quarter, topping the consensus estimate of $2.95 by $0.62. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the prior year, the company earned $3.02 EPS. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. On average, equities research analysts forecast that Biogen Inc. will post 11.29 EPS for the current year.

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.