LSV Asset Management Has $31.64 Million Stock Holdings in Biogen Inc. $BIIB

LSV Asset Management lifted its position in Biogen Inc. (NASDAQ:BIIB) by 4.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 251,959 shares of the biotechnology company’s stock after buying an additional 9,983 shares during the quarter. LSV Asset Management owned about 0.17% of Biogen worth $31,644,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vision Financial Markets LLC acquired a new position in Biogen during the 1st quarter worth $27,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Biogen in the first quarter worth about $27,000. Rothschild Investment LLC increased its stake in shares of Biogen by 64.7% in the second quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 88 shares during the period. Zions Bancorporation National Association UT acquired a new position in shares of Biogen during the 1st quarter worth about $29,000. Finally, Concord Wealth Partners boosted its stake in Biogen by 100.0% during the 2nd quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 114 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Biogen news, insider Priya Singhal sold 517 shares of Biogen stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total transaction of $69,045.35. Following the completion of the transaction, the insider directly owned 5,772 shares of the company’s stock, valued at approximately $770,850.60. This trade represents a 8.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BIIB. Sanford C. Bernstein lifted their price target on Biogen from $155.00 to $157.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. Citigroup reaffirmed a “neutral” rating on shares of Biogen in a research report on Wednesday, September 24th. Royal Bank Of Canada reduced their price target on shares of Biogen from $217.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, October 31st. Robert W. Baird decreased their price target on shares of Biogen from $255.00 to $250.00 in a research report on Friday, October 31st. Finally, Morgan Stanley upped their price objective on shares of Biogen from $144.00 to $149.00 and gave the company an “equal weight” rating in a research report on Friday, October 10th. Ten investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Biogen has an average rating of “Hold” and an average target price of $177.46.

Biogen Stock Up 2.5%

NASDAQ BIIB opened at $168.83 on Wednesday. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $170.78. The company has a market capitalization of $24.77 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.17 and a beta of 0.10. The stock’s 50 day moving average is $149.34 and its two-hundred day moving average is $137.12. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36.

Biogen (NASDAQ:BIIB) last posted its earnings results on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, topping the consensus estimate of $3.89 by $0.92. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.34 billion. Biogen had a return on equity of 13.85% and a net margin of 15.31%.Biogen’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company earned $4.08 EPS. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. Equities analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Biogen Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer’s disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.