Defilade Capital Management L.P. Sells 65,703 Shares of Biogen Inc. $BIIB

Defilade Capital Management L.P. trimmed its position in shares of Biogen Inc. (NASDAQ:BIIB) by 40.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 96,289 shares of the biotechnology company’s stock after selling 65,703 shares during the quarter. Biogen accounts for approximately 2.5% of Defilade Capital Management L.P.’s investment portfolio, making the stock its 20th largest position. Defilade Capital Management L.P.’s holdings in Biogen were worth $17,653,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. LSV Asset Management raised its position in Biogen by 3.3% in the 4th quarter. LSV Asset Management now owns 316,815 shares of the biotechnology company’s stock worth $55,756,000 after purchasing an additional 9,976 shares during the period. Catalyst Funds Management Pty Ltd purchased a new position in shares of Biogen during the fourth quarter valued at approximately $2,006,000. Systematic Financial Management LP boosted its position in shares of Biogen by 256.3% during the fourth quarter. Systematic Financial Management LP now owns 16,640 shares of the biotechnology company’s stock valued at $2,928,000 after buying an additional 11,970 shares during the period. Orbimed Advisors LLC bought a new position in shares of Biogen during the first quarter valued at approximately $11,293,000. Finally, Contrarius Group Holdings Ltd bought a new position in shares of Biogen during the fourth quarter valued at approximately $11,431,000. Institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $202.95 on Monday. Biogen Inc. has a 52-week low of $124.56 and a 52-week high of $219.72. The firm has a market capitalization of $29.99 billion, a price-to-earnings ratio of 35.92, a PEG ratio of 6.20 and a beta of 0.17. The stock has a 50 day moving average price of $201.23 and a 200 day moving average price of $190.64. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 1.87.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, topping the consensus estimate of $2.94 by $0.66. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.46 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%.Biogen’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the business posted $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Sell-side analysts expect that Biogen Inc. will post 12.65 earnings per share for the current year.

Key Biogen News

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Biogen reported second-quarter revenue of $2.74 billion, up 3.4% year over year and ahead of consensus estimates of approximately $2.46 billion. Growth was led by newer products and the company’s growth portfolio, helping adjusted EPS reach $3.60 versus the $2.94 analyst estimate. Biogen beats quarterly estimates as newer drugs drive growth
• Positive Sentiment: Management raised its revenue outlook and highlighted continued momentum in newer medicines and strategic acquisitions, supporting the view that Biogen is gradually reducing its reliance on older products. Biogen raises revenue outlook as growth portfolio drives Q2 beat
• Positive Sentiment: Several analysts became more constructive after the results. TD Cowen raised its price target to $225 and upgraded the stock to Buy, while Morgan Stanley increased its target to $231, although it retained an Equal Weight rating. Barclays also expects the shares to rise.
• Neutral Sentiment: Wedbush raised its price target from $201 to $215 but maintained a Neutral rating, and Piper Sandler reaffirmed its Buy rating. Zacks upgraded Biogen from Strong Sell to Hold, indicating improving sentiment but not broad analyst conviction.
• Negative Sentiment: Reported profitability deteriorated substantially. Second-quarter net income fell to $97.5 million, while diluted EPS from continuing operations declined to $0.66 from $4.33 a year earlier; first-half net income also dropped to $417 million from $875.3 million. The sharp gap between revenue growth and reported earnings is raising concerns that profitability may be peaking. Biogen earnings and profitability analysis

Analyst Ratings Changes

BIIB has been the subject of a number of research analyst reports. Zacks Research raised Biogen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biogen in a research report on Monday, June 22nd. HC Wainwright increased their target price on Biogen from $237.00 to $251.00 and gave the stock a “buy” rating in a research note on Thursday. HSBC reiterated a “reduce” rating and set a $157.00 target price on shares of Biogen in a research report on Monday, July 6th. Finally, Truist Financial raised shares of Biogen from a “hold” rating to a “buy” rating and boosted their target price for the company from $190.00 to $235.00 in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Biogen has an average rating of “Moderate Buy” and a consensus target price of $223.36.

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.