Amundi Purchases 726,004 Shares of Biogen Inc. $BIIB

Key Points

• Amundi nearly doubled its Biogen stake in the second quarter, purchasing 726,004 additional shares to own 1.52 million shares valued at approximately $327.7 million, or 1.03% of the company.
• Institutional ownership of Biogen stands at 87.93%, while several other investment firms also initiated or increased positions during recent quarters.
• Analyst sentiment is favorable, with Biogen holding a consensus “Moderate Buy” rating and an average price target of $228.50. The company also exceeded quarterly expectations, reporting $3.60 in adjusted earnings per share and $2.74 billion in revenue.

Amundi lifted its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 91.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,516,831 shares of the biotechnology company's stock after acquiring an additional 726,004 shares during the quarter. Amundi owned approximately 1.03% of Biogen worth $327,727,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of BIIB. Bell Investment Advisors Inc bought a new stake in shares of Biogen during the second quarter worth $27,000. Reflection Asset Management acquired a new stake in shares of Biogen in the fourth quarter valued at $25,000. Root Financial Partners LLC raised its holdings in shares of Biogen by 198.4% in the fourth quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company's stock valued at $33,000 after buying an additional 123 shares during the last quarter. MV Capital Management Inc. bought a new position in shares of Biogen in the fourth quarter valued at about $34,000. Finally, Strive Financial Group LLC acquired a new position in Biogen during the 4th quarter worth about $35,000. 87.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BIIB has been the topic of a number of research analyst reports. Piper Sandler reissued an "overweight" rating and set a $245.00 price objective (up from $225.00) on shares of Biogen in a report on Thursday. Zacks Research raised shares of Biogen from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 28th. HC Wainwright upped their target price on shares of Biogen from $237.00 to $251.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Truist Financial raised shares of Biogen from a "hold" rating to a "buy" rating and increased their price target for the company from $190.00 to $235.00 in a research note on Monday, July 13th. Finally, Wedbush raised their price target on shares of Biogen from $201.00 to $215.00 and gave the company a "neutral" rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Biogen currently has a consensus rating of "Moderate Buy" and a consensus price target of $228.50.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $220.83 on Tuesday. The firm has a market capitalization of $32.63 billion, a PE ratio of 39.08, a price-to-earnings-growth ratio of 2.44 and a beta of 0.17. The company has a current ratio of 1.87, a quick ratio of 1.26 and a debt-to-equity ratio of 0.39. Biogen Inc. has a 1 year low of $135.39 and a 1 year high of $225.80. The firm's 50-day moving average is $209.62 and its 200-day moving average is $196.80.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, topping analysts' consensus estimates of $2.94 by $0.66. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. Biogen's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Equities analysts expect that Biogen Inc. will post 12.39 EPS for the current year.

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.

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