Biogen Inc. $BIIB Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC cut its position in Biogen Inc. (NASDAQ:BIIB) by 79.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 41,496 shares of the biotechnology company’s stock after selling 155,668 shares during the period. ProShare Advisors LLC’s holdings in Biogen were worth $7,303,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BIIB. HighTower Advisors LLC increased its holdings in Biogen by 18.2% during the 4th quarter. HighTower Advisors LLC now owns 11,959 shares of the biotechnology company’s stock worth $2,105,000 after purchasing an additional 1,843 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new stake in Biogen during the 4th quarter worth about $291,000. Mission Wealth Management LP increased its holdings in Biogen by 5.3% during the 4th quarter. Mission Wealth Management LP now owns 1,822 shares of the biotechnology company’s stock worth $321,000 after purchasing an additional 92 shares during the period. Gabelli Funds LLC increased its holdings in Biogen by 9.2% during the 4th quarter. Gabelli Funds LLC now owns 15,400 shares of the biotechnology company’s stock worth $2,710,000 after purchasing an additional 1,300 shares during the period. Finally, North Dakota State Investment Board purchased a new stake in Biogen during the 4th quarter worth about $1,333,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Weiss Ratings upgraded Biogen from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Wedbush upped their price target on Biogen from $191.00 to $196.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. HSBC upped their price target on Biogen from $143.00 to $150.00 and gave the stock a “reduce” rating in a report on Tuesday, March 17th. UBS Group upgraded Biogen from a “neutral” rating to a “buy” rating and upped their price target for the stock from $185.00 to $225.00 in a report on Wednesday, April 22nd. Finally, HC Wainwright restated a “buy” rating on shares of Biogen in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $215.62.

Biogen Stock Up 0.9%

Shares of NASDAQ BIIB opened at $189.47 on Friday. The company has a market capitalization of $27.97 billion, a price-to-earnings ratio of 20.33, a price-to-earnings-growth ratio of 1.66 and a beta of 0.19. 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 business has a 50-day moving average of $185.42 and a two-hundred day moving average of $180.66. Biogen Inc. has a 1 year low of $121.05 and a 1 year high of $205.97.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.95 by $0.62. The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.29 billion. Biogen had a return on equity of 12.83% and a net margin of 13.81%.Biogen’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. On average, analysts forecast that Biogen Inc. will post 14.18 earnings per share for the current fiscal 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.