Biogen Inc. $BIIB Stock Position Decreased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its stake in Biogen Inc. (NASDAQ:BIIB) by 3.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 913,328 shares of the biotechnology company’s stock after selling 34,166 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.62% of Biogen worth $168,272,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Reflection Asset Management acquired a new position in shares of Biogen in the 4th quarter valued at $25,000. WPG Advisers LLC lifted its stake in Biogen by 417.9% during the fourth quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock valued at $26,000 after buying an additional 117 shares in the last quarter. Accredited Wealth Management LLC lifted its stake in Biogen by 1,233.3% during the third quarter. Accredited Wealth Management LLC now owns 200 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 185 shares in the last quarter. First Horizon Corp acquired a new position in shares of Biogen in the fourth quarter worth about $30,000. Finally, WFA of San Diego LLC acquired a new position in shares of Biogen in the second quarter worth about $32,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Performance

BIIB stock opened at $216.03 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.41 and a current ratio of 3.06. The stock has a market cap of $31.89 billion, a P/E ratio of 23.18 and a beta of 0.20. The firm has a 50 day simple moving average of $193.37 and a 200 day simple moving average of $185.71. Biogen Inc. has a 52 week low of $121.05 and a 52 week high of $218.06.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share for the quarter, beating the consensus estimate of $2.95 by $0.62. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the prior year, the business earned $3.02 EPS. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Research analysts anticipate that Biogen Inc. will post 13.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Biogen from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Mizuho decreased their price objective on shares of Biogen from $236.00 to $221.00 and set an “outperform” rating for the company in a research note on Monday, June 15th. Sanford C. Bernstein cut their target price on shares of Biogen from $201.00 to $200.00 in a research note on Thursday, April 30th. Rothschild & Co Redburn increased their target price on Biogen from $180.00 to $190.00 in a report on Thursday, April 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Biogen in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $217.37.

Biogen 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.