Rafferty Asset Management LLC Sells 21,813 Shares of Biogen Inc. $BIIB

Rafferty Asset Management LLC lowered its stake in Biogen Inc. (NASDAQ:BIIB) by 12.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 158,627 shares of the biotechnology company’s stock after selling 21,813 shares during the quarter. Rafferty Asset Management LLC’s holdings in Biogen were worth $22,220,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. CVA Family Office LLC increased its holdings in Biogen by 18.1% in the 3rd quarter. CVA Family Office LLC now owns 464 shares of the biotechnology company’s stock worth $65,000 after acquiring an additional 71 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in Biogen by 22.5% during the third quarter. TD Private Client Wealth LLC now owns 414 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 76 shares in the last quarter. CX Institutional boosted its position in shares of Biogen by 6.1% in the third quarter. CX Institutional now owns 1,453 shares of the biotechnology company’s stock worth $204,000 after purchasing an additional 83 shares during the period. 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 in the last quarter. Finally, True Wealth Design LLC raised its position in shares of Biogen by 62.9% during the 3rd quarter. True Wealth Design LLC now owns 233 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 90 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BIIB. Wells Fargo & Company upped their target price on shares of Biogen from $190.00 to $200.00 and gave the stock an “equal weight” rating in a report on Sunday, February 8th. Jefferies Financial Group boosted their price objective on Biogen from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, November 28th. HSBC reiterated a “reduce” rating and set a $143.00 target price (down from $144.00) on shares of Biogen in a research report on Wednesday, December 10th. Wedbush lifted their target price on Biogen from $178.00 to $187.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Biogen in a research note on Monday, February 9th. Twelve investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $205.04.

Biogen Stock Performance

NASDAQ:BIIB opened at $191.82 on Friday. The company has a market cap of $28.15 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 1.52 and a beta of 0.16. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $202.41. The stock’s 50 day simple moving average is $181.98 and its two-hundred day simple moving average is $163.51. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.68 and a quick ratio of 2.03.

Biogen (NASDAQ:BIIB) last posted its earnings results on Friday, February 6th. The biotechnology company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.38. Biogen had a return on equity of 12.64% and a net margin of 13.07%.The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the prior year, the company earned $3.44 EPS. The company’s quarterly 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. As a group, equities analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Activity

In other Biogen news, insider Priya Singhal sold 2,660 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $199.83, for a total transaction of $531,547.80. Following the sale, the insider directly owned 8,043 shares of the company’s stock, valued at $1,607,232.69. The trade was a 24.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.18% of the company’s stock.

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.