The Manufacturers Life Insurance Company Sells 10,628 Shares of Biogen Inc. $BIIB

The Manufacturers Life Insurance Company reduced its position in shares of Biogen Inc. (NASDAQ:BIIB) by 10.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 95,108 shares of the biotechnology company’s stock after selling 10,628 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Biogen were worth $17,436,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Rothschild Investment LLC grew its holdings in Biogen by 12.3% in the 4th quarter. Rothschild Investment LLC now owns 513 shares of the biotechnology company’s stock valued at $90,000 after buying an additional 56 shares in the last quarter. Meeder Advisory Services Inc. increased its position in Biogen by 1.2% during the 1st quarter. Meeder Advisory Services Inc. now owns 4,721 shares of the biotechnology company’s stock worth $866,000 after buying an additional 57 shares during the period. Kera Capital Partners Inc. lifted its holdings in shares of Biogen by 3.5% during the first quarter. Kera Capital Partners Inc. now owns 1,723 shares of the biotechnology company’s stock worth $316,000 after buying an additional 58 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Biogen by 1.5% in the first quarter. Parallel Advisors LLC now owns 4,367 shares of the biotechnology company’s stock valued at $801,000 after acquiring an additional 65 shares during the period. Finally, Itau Unibanco Holding S.A. boosted its position in shares of Biogen by 24.4% in the fourth quarter. Itau Unibanco Holding S.A. now owns 337 shares of the biotechnology company’s stock valued at $59,000 after acquiring an additional 66 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Biogen Stock Down 2.4%

Shares of NASDAQ BIIB opened at $202.95 on Friday. The stock has a market capitalization of $29.99 billion, a P/E ratio of 35.92, a PEG ratio of 6.28 and a beta of 0.16. The stock’s fifty day moving average is $201.23 and its 200 day moving average is $190.60. Biogen Inc. has a 52 week low of $124.56 and a 52 week high of $219.72. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.41 and a current ratio of 1.87.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, topping the consensus estimate of $2.94 by $0.66. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. Biogen’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Sell-side analysts forecast that Biogen Inc. will post 12.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on BIIB. Morgan Stanley upped their price target on shares of Biogen from $222.00 to $231.00 and gave the company an “equal weight” rating in a research note on Thursday. JPMorgan Chase & Co. boosted 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. Needham & Company LLC increased their target price on shares of Biogen from $255.00 to $256.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. UBS Group increased their target price on shares of Biogen from $225.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Bank of America lowered their target price on shares of Biogen from $217.00 to $215.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $223.36.

Key Stories Impacting Biogen

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

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.