Sumitomo Mitsui Trust Group Inc. Cuts Stake in Biogen Inc. $BIIB

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 3.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 356,291 shares of the biotechnology company’s stock after selling 14,336 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Biogen were worth $65,319,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rothschild Investment LLC increased its stake in Biogen by 12.3% during the 4th quarter. Rothschild Investment LLC now owns 513 shares of the biotechnology company’s stock worth $90,000 after buying an additional 56 shares in the last quarter. Itau Unibanco Holding S.A. lifted its position in shares of Biogen by 24.4% in the fourth quarter. Itau Unibanco Holding S.A. now owns 337 shares of the biotechnology company’s stock valued at $59,000 after acquiring an additional 66 shares in the last quarter. Advisory Services Network LLC lifted its position in shares of Biogen by 3.9% in the third quarter. Advisory Services Network LLC now owns 1,792 shares of the biotechnology company’s stock valued at $251,000 after acquiring an additional 68 shares in the last quarter. Davis Investment Partners LLC boosted its stake in shares of Biogen by 1.7% in the fourth quarter. Davis Investment Partners LLC now owns 4,374 shares of the biotechnology company’s stock worth $778,000 after acquiring an additional 71 shares during the last quarter. Finally, Optas LLC boosted its stake in shares of Biogen by 4.5% in the fourth quarter. Optas LLC now owns 1,706 shares of the biotechnology company’s stock worth $300,000 after acquiring an additional 73 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Trading Up 0.1%

NASDAQ:BIIB traded up $0.24 on Friday, hitting $199.15. The stock had a trading volume of 1,133,114 shares, compared to its average volume of 1,199,882. The company has a fifty day moving average price of $198.25 and a two-hundred day moving average price of $188.07. Biogen Inc. has a 1-year low of $121.05 and a 1-year high of $219.72. 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 stock has a market cap of $29.40 billion, a price-to-earnings ratio of 21.37 and a beta of 0.16.

Biogen (NASDAQ:BIIB) last announced 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. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.29 billion. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Equities research analysts expect that Biogen Inc. will post 13.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BIIB shares. Mizuho reduced their price objective on Biogen from $236.00 to $221.00 and set an “outperform” rating for the company in a research note on Monday, June 15th. Weiss Ratings raised shares of Biogen from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Citigroup upped their target price on shares of Biogen from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Zacks Research cut shares of Biogen from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. Finally, Truist Financial decreased their price target on shares of Biogen from $193.00 to $189.00 and set a “hold” rating on the stock in a research note on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $218.15.

About Biogen

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.