Letko Brosseau & Associates Inc. Grows Position in Biogen Inc. $BIIB

Letko Brosseau & Associates Inc. raised its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 7.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 129,780 shares of the biotechnology company’s stock after purchasing an additional 9,160 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in Biogen were worth $22,840,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Focus Partners Advisor Solutions LLC grew its holdings in shares of Biogen by 1.6% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 7,505 shares of the biotechnology company’s stock valued at $1,321,000 after purchasing an additional 118 shares during the period. Contrarius Group Holdings Ltd purchased a new stake in shares of Biogen in the fourth quarter valued at about $11,431,000. LPL Financial LLC grew its holdings in shares of Biogen by 27.6% in the fourth quarter. LPL Financial LLC now owns 89,537 shares of the biotechnology company’s stock valued at $15,758,000 after purchasing an additional 19,373 shares during the period. Erste Asset Management GmbH grew its holdings in shares of Biogen by 6.9% in the fourth quarter. Erste Asset Management GmbH now owns 48,734 shares of the biotechnology company’s stock valued at $8,618,000 after purchasing an additional 3,149 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of Biogen by 83.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 110,268 shares of the biotechnology company’s stock valued at $19,406,000 after purchasing an additional 50,279 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Trading Up 3.4%

Shares of BIIB stock opened at $199.10 on Wednesday. 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 firm has a market cap of $29.40 billion, a PE ratio of 21.36 and a beta of 0.20. The company has a 50-day moving average of $187.94 and a two-hundred day moving average of $183.85. Biogen Inc. has a 1-year low of $121.05 and a 1-year high of $205.97.

Biogen (NASDAQ:BIIB) last announced its 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. The company had revenue of $2.48 billion during 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 firm posted $3.02 earnings per share. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. On average, analysts predict that Biogen Inc. will post 14.18 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BIIB. JPMorgan Chase & Co. upped their price objective on shares of Biogen from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, April 23rd. Royal Bank Of Canada upped their price objective on shares of Biogen from $222.00 to $227.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Barclays began coverage on shares of Biogen in a report on Thursday, February 19th. They issued an “equal weight” rating and a $185.00 price objective for the company. UBS Group raised shares of Biogen from a “neutral” rating to a “buy” rating and upped their price objective for the company from $185.00 to $225.00 in a report on Wednesday, April 22nd. Finally, Mizuho upped their price objective on shares of Biogen from $207.00 to $236.00 and gave the company an “outperform” rating in a report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $217.26.

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.