Causeway Capital Management LLC Acquires 74,163 Shares of Biogen Inc. $BIIB

Causeway Capital Management LLC lifted its holdings in Biogen Inc. (NASDAQ:BIIB) by 15.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 567,518 shares of the biotechnology company’s stock after buying an additional 74,163 shares during the quarter. Biogen comprises 1.1% of Causeway Capital Management LLC’s portfolio, making the stock its 18th biggest holding. Causeway Capital Management LLC owned about 0.39% of Biogen worth $79,498,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BIIB. Bank of Montreal Can lifted its position in shares of Biogen by 21.2% during the third quarter. Bank of Montreal Can now owns 125,255 shares of the biotechnology company’s stock worth $17,546,000 after purchasing an additional 21,941 shares in the last quarter. Legal & General Group Plc lifted its holdings in Biogen by 10.1% during the 3rd quarter. Legal & General Group Plc now owns 1,593,399 shares of the biotechnology company’s stock worth $223,203,000 after buying an additional 146,583 shares in the last quarter. Schroder Investment Management Group increased its stake in shares of Biogen by 351.2% in the 3rd quarter. Schroder Investment Management Group now owns 62,121 shares of the biotechnology company’s stock valued at $8,605,000 after buying an additional 48,354 shares during the period. Private Advisor Group LLC raised its position in shares of Biogen by 5.4% during the third quarter. Private Advisor Group LLC now owns 4,467 shares of the biotechnology company’s stock worth $626,000 after acquiring an additional 229 shares during the last quarter. Finally, Natixis Advisors LLC lifted its stake in shares of Biogen by 3.4% during the third quarter. Natixis Advisors LLC now owns 39,516 shares of the biotechnology company’s stock valued at $5,535,000 after acquiring an additional 1,317 shares during the period. Institutional investors own 87.93% of the company’s stock.

Analysts Set New Price Targets

BIIB has been the subject of several recent research reports. Morgan Stanley set a $190.00 price objective on Biogen in a report on Sunday, February 8th. Tudor Pickering set a $201.00 price target on shares of Biogen in a research note on Monday, February 9th. Jefferies Financial Group increased their price objective on shares of Biogen from $190.00 to $210.00 and gave the company a “buy” rating in a report on Friday, November 28th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Biogen in a research note on Monday, February 9th. Finally, Wells Fargo & Company lifted their target price on shares of Biogen from $190.00 to $200.00 and gave the stock an “equal weight” rating in a report on Sunday, February 8th. Twelve research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $205.04.

Insider Activity

In other news, insider Priya Singhal sold 2,660 shares of the business’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $199.83, for a total value of $531,547.80. Following the sale, the insider directly owned 8,043 shares in the company, valued at $1,607,232.69. The trade was a 24.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.18% of the stock is owned by corporate insiders.

Biogen Stock Up 1.8%

Biogen stock opened at $188.24 on Tuesday. The company’s 50 day simple moving average is $183.31 and its 200 day simple moving average is $165.80. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $202.41. The firm has a market capitalization of $27.63 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 1.47 and a beta of 0.15. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.68 and a quick ratio of 2.03.

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

Biogen 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.