Causeway Capital Management LLC Acquires 74,163 Shares of Biogen Inc. $BIIB

Causeway Capital Management LLC boosted its holdings in Biogen Inc. (NASDAQ:BIIB) by 15.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 567,518 shares of the biotechnology company’s stock after acquiring an additional 74,163 shares during the period. Biogen accounts for 1.1% of Causeway Capital Management LLC’s holdings, making the stock its 18th biggest position. Causeway Capital Management LLC’s holdings in Biogen were worth $79,498,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Biogen by 1.5% during the second quarter. Vanguard Group Inc. now owns 17,290,651 shares of the biotechnology company’s stock worth $2,171,533,000 after acquiring an additional 257,812 shares during the last quarter. State Street Corp increased its stake in shares of Biogen by 1.0% during the second quarter. State Street Corp now owns 7,468,807 shares of the biotechnology company’s stock worth $938,007,000 after purchasing an additional 71,897 shares during the period. Geode Capital Management LLC lifted its holdings in Biogen by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 3,918,150 shares of the biotechnology company’s stock worth $490,089,000 after purchasing an additional 71,286 shares during the last quarter. Invesco Ltd. grew its holdings in Biogen by 2.4% in the 2nd quarter. Invesco Ltd. now owns 2,320,126 shares of the biotechnology company’s stock valued at $291,385,000 after buying an additional 55,119 shares in the last quarter. Finally, Norges Bank bought a new position in Biogen during the 2nd quarter worth $284,358,000. 87.93% of the stock is owned by institutional investors.

Biogen Stock Up 1.8%

Shares of BIIB opened at $188.24 on Tuesday. The stock’s 50-day moving average price is $183.31 and its two-hundred day moving average price is $165.80. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $202.41. The company has a market capitalization of $27.63 billion, a PE ratio of 21.37, a PEG ratio of 1.47 and a beta of 0.15. The company has a current ratio of 2.68, a quick ratio of 2.03 and a debt-to-equity ratio of 0.34.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Friday, February 6th. The biotechnology company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.38. Biogen had a net margin of 13.07% and a return on equity of 12.64%. The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same quarter last year, the business earned $3.44 EPS. The company’s revenue was down 7.2% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 15.250-16.250 EPS. On average, analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Wolfe Research set a $231.00 target price on shares of Biogen in a report on Monday, February 9th. BMO Capital Markets upped their price objective on shares of Biogen from $165.00 to $196.00 and gave the stock a “market perform” rating in a research report on Friday, February 6th. Oppenheimer upped their price target on shares of Biogen from $205.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. HC Wainwright upped their target price on Biogen from $194.00 to $228.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Finally, Wells Fargo & Company raised their price objective on Biogen from $190.00 to $200.00 and gave the company an “equal weight” rating in a research note on Sunday, February 8th. Twelve equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $205.04.

Insider Activity

In other news, insider Priya Singhal sold 2,660 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $199.83, for a total transaction of $531,547.80. Following the transaction, the insider owned 8,043 shares in the company, valued at approximately $1,607,232.69. This represents a 24.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is owned by insiders.

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.