Andra AP fonden Has $9.53 Million Stake in Biogen Inc. $BIIB

Andra AP fonden lifted its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 1,980.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,000 shares of the biotechnology company's stock after acquiring an additional 49,500 shares during the quarter. Andra AP fonden's holdings in Biogen were worth $9,533,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in BIIB. SG Americas Securities LLC increased its holdings in Biogen by 1,793.8% during the fourth quarter. SG Americas Securities LLC now owns 183,829 shares of the biotechnology company's stock worth $32,352,000 after buying an additional 174,122 shares during the last quarter. LSV Asset Management lifted its stake in Biogen by 3.3% in the fourth quarter. LSV Asset Management now owns 316,815 shares of the biotechnology company's stock valued at $55,756,000 after acquiring an additional 9,976 shares during the last quarter. Catalyst Funds Management Pty Ltd acquired a new stake in Biogen in the fourth quarter valued at $2,006,000. Systematic Financial Management LP grew its position in shares of Biogen by 256.3% in the 4th quarter. Systematic Financial Management LP now owns 16,640 shares of the biotechnology company's stock valued at $2,928,000 after acquiring an additional 11,970 shares during the period. Finally, Contrarius Group Holdings Ltd bought a new position in shares of Biogen in the 4th quarter valued at about $11,431,000. Institutional investors and hedge funds own 87.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Citigroup upped their target price on shares of Biogen from $190.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, May 1st. Canaccord Genuity Group boosted their price target on Biogen from $230.00 to $245.00 and gave the stock a "buy" rating in a research report on Wednesday, April 1st. Argus upgraded Biogen to a "hold" rating in a research note on Thursday, April 9th. Wedbush reaffirmed a "neutral" rating and issued a $201.00 price objective on shares of Biogen in a research report on Monday, July 13th. Finally, Weiss Ratings upgraded Biogen from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Biogen presently has an average rating of "Moderate Buy" and a consensus target price of $220.57.

Biogen Stock Up 1.6%

Shares of BIIB opened at $203.16 on Wednesday. The company has a current ratio of 3.06, a quick ratio of 2.41 and a debt-to-equity ratio of 0.34. Biogen Inc. has a 12 month low of $123.38 and a 12 month high of $219.72. The firm's 50 day moving average is $199.55 and its 200-day moving average is $189.45. The stock has a market capitalization of $29.99 billion, a PE ratio of 21.80 and a beta of 0.16.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.95 by $0.62. The business had revenue of $2.48 billion during the quarter, compared to analysts' expectations of $2.29 billion. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The firm's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.02 earnings per share. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Equities research analysts forecast that Biogen Inc. will post 13.45 EPS for the current year.

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.

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