Biogen Inc. $BIIB Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its holdings in Biogen Inc. (NASDAQ:BIIB) by 83.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,987 shares of the biotechnology company’s stock after selling 68,104 shares during the period. Thrivent Financial for Lutherans’ holdings in Biogen were worth $2,461,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Biogen by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 17,447,092 shares of the biotechnology company’s stock valued at $3,070,514,000 after purchasing an additional 157,857 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Biogen by 4.2% in the third quarter. Invesco Ltd. now owns 2,418,127 shares of the biotechnology company’s stock valued at $338,731,000 after purchasing an additional 98,001 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Biogen by 30.7% in the third quarter. AQR Capital Management LLC now owns 1,783,581 shares of the biotechnology company’s stock valued at $248,809,000 after purchasing an additional 418,776 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Biogen by 10.1% in the third quarter. Legal & General Group Plc now owns 1,593,399 shares of the biotechnology company’s stock valued at $223,203,000 after purchasing an additional 146,583 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Biogen by 22.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 947,494 shares of the biotechnology company’s stock valued at $166,900,000 after purchasing an additional 176,639 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Ratings Changes

BIIB has been the subject of a number of research reports. Royal Bank Of Canada lifted their price objective on shares of Biogen from $213.00 to $222.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Barclays initiated coverage on shares of Biogen in a report on Thursday, February 19th. They issued an “equal weight” rating and a $185.00 price objective for the company. HC Wainwright reiterated a “buy” rating on shares of Biogen in a research note on Thursday, May 14th. Canaccord Genuity Group lifted their price target on shares of Biogen from $230.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, April 1st. Finally, HSBC lifted their price target on shares of Biogen from $143.00 to $150.00 and gave the stock a “reduce” rating in a research note on Tuesday, March 17th. 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $215.62.

Biogen Price Performance

Shares of Biogen stock opened at $193.76 on Tuesday. Biogen Inc. has a 52-week low of $121.05 and a 52-week high of $205.97. The company has a 50 day moving average of $185.66 and a 200 day moving average of $181.27. The company has a quick ratio of 2.41, a current ratio of 3.06 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $28.61 billion, a P/E ratio of 20.79, a P/E/G ratio of 1.71 and a beta of 0.19.

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

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.