Primecap Management Co. CA Has $2.09 Billion Holdings in Biogen Inc. $BIIB

Primecap Management Co. CA decreased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 5.4% in the 3rd quarter, Holdings Channel reports. The firm owned 14,954,697 shares of the biotechnology company’s stock after selling 847,425 shares during the quarter. Biogen accounts for about 1.6% of Primecap Management Co. CA’s portfolio, making the stock its 16th largest holding. Primecap Management Co. CA owned about 0.10% of Biogen worth $2,094,854,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BIIB. US Bancorp DE increased its position in shares of Biogen by 25.3% during the third quarter. US Bancorp DE now owns 21,433 shares of the biotechnology company’s stock worth $3,002,000 after buying an additional 4,324 shares during the period. Cary Street Partners Financial LLC bought a new stake in Biogen during the third quarter valued at $190,000. Waddell & Associates LLC acquired a new stake in Biogen during the 3rd quarter worth about $241,000. TD Asset Management Inc grew its holdings in Biogen by 12.7% during the 3rd quarter. TD Asset Management Inc now owns 161,195 shares of the biotechnology company’s stock worth $22,580,000 after acquiring an additional 18,168 shares during the period. Finally, Mufg Securities Americas Inc. raised its position in shares of Biogen by 21.8% in the 3rd quarter. Mufg Securities Americas Inc. now owns 3,954 shares of the biotechnology company’s stock worth $554,000 after acquiring an additional 707 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BIIB. Sanford C. Bernstein restated a “market perform” rating on shares of Biogen in a research report on Monday, February 9th. Canaccord Genuity Group lifted their target price on Biogen from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, February 9th. HSBC restated a “reduce” rating and set a $143.00 price target (down from $144.00) on shares of Biogen in a report on Wednesday, December 10th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Biogen in a research report on Monday, February 9th. Finally, Wedbush boosted their target price on shares of Biogen from $178.00 to $187.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Twelve equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat, Biogen has an average rating of “Hold” and a consensus target price of $205.04.

Biogen Trading Down 2.3%

NASDAQ BIIB opened at $190.73 on Thursday. The company has a quick ratio of 2.03, a current ratio of 2.68 and a debt-to-equity ratio of 0.34. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $202.41. The business has a 50 day moving average price of $181.28 and a 200-day moving average price of $162.65. The company has a market cap of $27.99 billion, a price-to-earnings ratio of 21.65, a P/E/G ratio of 1.55 and a beta of 0.16.

Biogen (NASDAQ:BIIB) last issued its earnings results on Friday, February 6th. The biotechnology company reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.38. The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Biogen had a return on equity of 12.64% and a net margin of 13.07%.Biogen’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period last year, the business earned $3.44 EPS. Biogen has set its FY 2026 guidance at 15.250-16.250 EPS. As a group, equities analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Priya Singhal sold 2,660 shares of Biogen stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $199.83, for a total transaction of $531,547.80. Following the completion of the transaction, the insider directly owned 8,043 shares in the company, valued at $1,607,232.69. This trade represents a 24.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is owned by corporate insiders.

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.