ProShare Advisors LLC Trims Holdings in Biogen Inc. $BIIB

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

Other institutional investors have also recently added to or reduced their stakes in the company. Convergence Investment Partners LLC purchased a new position in Biogen during the third quarter worth approximately $1,342,000. Caprock Group LLC purchased a new position in Biogen during the third quarter worth approximately $742,000. Leuthold Group LLC purchased a new position in Biogen during the third quarter worth approximately $3,294,000. Generali Investments Management Co LLC lifted its position in Biogen by 408.2% during the third quarter. Generali Investments Management Co LLC now owns 9,970 shares of the biotechnology company’s stock worth $1,397,000 after buying an additional 8,008 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Biogen by 9.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 67,010 shares of the biotechnology company’s stock worth $9,387,000 after acquiring an additional 5,987 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Trading Up 0.9%

Shares of NASDAQ BIIB opened at $189.47 on Friday. Biogen Inc. has a twelve month low of $121.05 and a twelve month high of $205.97. The company has a current ratio of 3.06, a quick ratio of 2.41 and a debt-to-equity ratio of 0.34. The stock has a fifty day simple moving average of $185.42 and a 200-day simple moving average of $180.66. The stock has a market capitalization of $27.97 billion, a PE ratio of 20.33, a PEG ratio of 1.66 and a beta of 0.19.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BIIB shares. Citigroup raised their target price on Biogen from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. UBS Group raised Biogen from a “neutral” rating to a “buy” rating and raised their target price for the stock from $185.00 to $225.00 in a research note on Wednesday, April 22nd. Sanford C. Bernstein cut their target price on Biogen from $201.00 to $200.00 in a research note on Thursday, April 30th. Royal Bank Of Canada raised their target price on Biogen from $213.00 to $222.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Finally, Argus raised Biogen to a “hold” rating in a research note on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $215.62.

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.