Royal Bank of Canada Decreases Holdings in Biogen Inc. $BIIB

Royal Bank of Canada lowered its position in Biogen Inc. (NASDAQ:BIIB) by 1.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 531,377 shares of the biotechnology company’s stock after selling 10,448 shares during the period. Royal Bank of Canada’s holdings in Biogen were worth $97,418,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Quantinno Capital Management LP lifted its holdings in shares of Biogen by 18.3% in the 1st quarter. Quantinno Capital Management LP now owns 116,374 shares of the biotechnology company’s stock worth $21,335,000 after acquiring an additional 18,041 shares during the last quarter. SummitTX Capital L.P. bought a new position in shares of Biogen during the 1st quarter valued at $3,970,000. Orbimed Advisors LLC purchased a new position in Biogen in the 1st quarter worth $11,293,000. OMERS ADMINISTRATION Corp raised its position in Biogen by 19.9% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 20,149 shares of the biotechnology company’s stock worth $3,694,000 after purchasing an additional 3,341 shares during the period. Finally, Lombard Odier Asset Management Switzerland SA bought a new stake in Biogen in the first quarter worth $715,000. 87.93% of the stock is currently owned by institutional investors.

More Biogen News

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Biogen reported second-quarter revenue of $2.74 billion, up 3.4% year over year and ahead of consensus estimates of approximately $2.46 billion. Growth was led by newer products and the company’s growth portfolio, helping adjusted EPS reach $3.60 versus the $2.94 analyst estimate. Biogen beats quarterly estimates as newer drugs drive growth
• Positive Sentiment: Management raised its revenue outlook and highlighted continued momentum in newer medicines and strategic acquisitions, supporting the view that Biogen is gradually reducing its reliance on older products. Biogen raises revenue outlook as growth portfolio drives Q2 beat
• Positive Sentiment: Several analysts became more constructive after the results. TD Cowen raised its price target to $225 and upgraded the stock to Buy, while Morgan Stanley increased its target to $231, although it retained an Equal Weight rating. Barclays also expects the shares to rise.
• Neutral Sentiment: Wedbush raised its price target from $201 to $215 but maintained a Neutral rating, and Piper Sandler reaffirmed its Buy rating. Zacks upgraded Biogen from Strong Sell to Hold, indicating improving sentiment but not broad analyst conviction.
• Negative Sentiment: Reported profitability deteriorated substantially. Second-quarter net income fell to $97.5 million, while diluted EPS from continuing operations declined to $0.66 from $4.33 a year earlier; first-half net income also dropped to $417 million from $875.3 million. The sharp gap between revenue growth and reported earnings is raising concerns that profitability may be peaking. Biogen earnings and profitability analysis

Analyst Upgrades and Downgrades

BIIB has been the topic of a number of recent research reports. Royal Bank Of Canada reduced their price objective on Biogen from $242.00 to $240.00 and set an “outperform” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. raised their price target on Biogen from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, April 23rd. Zacks Research raised Biogen from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Bank of America lowered their price objective on Biogen from $217.00 to $215.00 and set a “neutral” rating for the company in a research report on Tuesday, July 21st. Finally, TD Cowen increased their price objective on Biogen from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $223.36.

Biogen Stock Performance

Biogen stock opened at $202.95 on Friday. The company has a current ratio of 1.87, a quick ratio of 2.41 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average of $201.23 and a 200-day moving average of $190.60. The firm has a market cap of $29.99 billion, a P/E ratio of 35.92, a P/E/G ratio of 6.43 and a beta of 0.16. Biogen Inc. has a 1-year low of $124.56 and a 1-year high of $219.72.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.66. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last year, the firm earned $5.47 earnings per share. Biogen’s quarterly revenue was up 3.4% on a year-over-year basis. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Sell-side analysts expect that Biogen Inc. will post 12.49 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.