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

LSV Asset Management grew its holdings in Biogen Inc. (NASDAQ:BIIB) by 4.1% during the second quarter, Holdings Channel.com reports. The firm owned 251,959 shares of the biotechnology company’s stock after acquiring an additional 9,983 shares during the period. LSV Asset Management’s holdings in Biogen were worth $31,644,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Envestnet Asset Management Inc. lifted its position in Biogen by 12.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 52,294 shares of the biotechnology company’s stock worth $7,156,000 after buying an additional 5,926 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Biogen by 4.8% in the first quarter. Victory Capital Management Inc. now owns 124,756 shares of the biotechnology company’s stock worth $17,072,000 after acquiring an additional 5,723 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in shares of Biogen by 2.8% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 11,213 shares of the biotechnology company’s stock worth $1,534,000 after purchasing an additional 301 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Biogen during the first quarter valued at approximately $5,927,000. Finally, Allianz Asset Management GmbH increased its holdings in shares of Biogen by 24.6% in the first quarter. Allianz Asset Management GmbH now owns 667,767 shares of the biotechnology company’s stock valued at $91,377,000 after purchasing an additional 131,813 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 517 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total value of $69,045.35. Following the completion of the sale, the insider directly owned 5,772 shares in the company, valued at $770,850.60. This 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 is available through the SEC website. Insiders own 0.18% of the company’s stock.

Biogen Stock Performance

Shares of NASDAQ:BIIB opened at $168.83 on Wednesday. The firm’s 50 day simple moving average is $149.34 and its 200 day simple moving average is $137.12. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $170.78. The company has a market capitalization of $24.77 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 1.17 and a beta of 0.10. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79.

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

Analyst Ratings Changes

Several research firms have issued reports on BIIB. Morgan Stanley upped their price objective on Biogen from $144.00 to $149.00 and gave the stock an “equal weight” rating in a report on Friday, October 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a research note on Wednesday, September 24th. Mizuho raised their price target on Biogen from $169.00 to $177.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Citigroup reissued a “neutral” rating on shares of Biogen in a report on Wednesday, September 24th. Finally, Sanford C. Bernstein upped their target price on shares of Biogen from $155.00 to $157.00 and gave the company a “market perform” rating in a research report on Monday, November 3rd. Ten research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Biogen has a consensus rating of “Hold” and a consensus price target of $177.46.

About Biogen

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.