Meitav Investment House Ltd. Cuts Stock Position in Biogen Inc. $BIIB

Meitav Investment House Ltd. trimmed its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 37.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,972 shares of the biotechnology company’s stock after selling 12,490 shares during the quarter. Meitav Investment House Ltd.’s holdings in Biogen were worth $3,845,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Reflection Asset Management acquired a new stake in Biogen in the 4th quarter valued at $25,000. WPG Advisers LLC raised its position in Biogen by 417.9% during the fourth quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock worth $26,000 after acquiring an additional 117 shares during the period. First Horizon Corp acquired a new position in Biogen during the fourth quarter worth $30,000. WFA of San Diego LLC purchased a new position in Biogen during the second quarter valued at $32,000. Finally, Root Financial Partners LLC lifted its holdings in Biogen by 198.4% during the fourth quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BIIB shares. Zacks Research cut shares of Biogen from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. Evercore started coverage on Biogen in a report on Friday, May 15th. They issued an “outperform” rating on the stock. Wall Street Zen upgraded Biogen from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Piper Sandler reissued an “overweight” rating and set a $225.00 target price (up from $214.00) on shares of Biogen in a report on Friday, May 15th. Finally, Mizuho decreased their target price on Biogen from $236.00 to $221.00 and set an “outperform” rating on the stock in a research report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $218.22.

Biogen Trading Down 0.1%

Shares of Biogen stock traded down $0.24 during mid-day trading on Tuesday, hitting $208.22. The stock had a trading volume of 265,000 shares, compared to its average volume of 1,256,111. The firm has a 50-day moving average of $197.02 and a two-hundred day moving average of $187.37. The firm has a market cap of $30.74 billion, a P/E ratio of 22.53 and a beta of 0.16. The company has a quick ratio of 2.41, a current ratio of 3.06 and a debt-to-equity ratio of 0.34. Biogen Inc. has a 12-month low of $121.05 and a 12-month high of $219.72.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, beating the consensus estimate of $2.95 by $0.62. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the previous year, the company earned $3.02 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Sell-side analysts forecast that Biogen Inc. will post 13.95 earnings per share for the current year.

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.