Bank of America Corp DE Invests $241.17 Million in Biogen Inc. $BIIB

Key Points

• Bank of America acquired 1.12 million Biogen shares worth approximately $241.2 million in the second quarter, giving it a 0.76% stake. Institutional investors collectively own 87.93% of Biogen.
• Biogen reported quarterly EPS of $3.60, exceeding the $2.94 consensus estimate, while revenue rose 3.4% year over year to $2.74 billion. The company issued fiscal 2026 EPS guidance of $12.00–$13.00.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $230.14 price target versus the stock’s reported opening price of $216.01.

Bank of America Corp DE acquired a new stake in Biogen Inc. (NASDAQ:BIIB - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,116,228 shares of the biotechnology company's stock, valued at approximately $241,172,000. Bank of America Corp DE owned 0.76% of Biogen at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Bell Investment Advisors Inc bought a new position in shares of Biogen in the 2nd quarter worth $27,000. Reflection Asset Management bought a new stake in Biogen in the 4th quarter worth approximately $25,000. Root Financial Partners LLC lifted its position in Biogen by 198.4% in the 4th quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company's stock worth $33,000 after buying an additional 123 shares during the last quarter. MV Capital Management Inc. purchased a new stake in Biogen in the fourth quarter worth approximately $34,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in Biogen during the first quarter valued at approximately $40,000. Hedge funds and other institutional investors own 87.93% of the company's stock.

Biogen Stock Performance

Biogen stock opened at $216.01 on Thursday. Biogen Inc. has a twelve month low of $135.39 and a twelve month high of $225.80. The company has a market capitalization of $31.92 billion, a P/E ratio of 38.23, a PEG ratio of 2.39 and a beta of 0.17. The stock's 50 day moving average is $210.27 and its 200 day moving average is $197.90. The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.39.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.66. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The business had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.46 billion. During the same period in the previous year, the company earned $5.47 earnings per share. The business's revenue for the quarter was up 3.4% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, equities research analysts predict that Biogen Inc. will post 12.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BIIB has been the subject of several recent research reports. Citigroup boosted their price target on shares of Biogen from $200.00 to $215.00 and gave the stock a "neutral" rating in a research note on Monday, August 3rd. Wedbush lifted their price objective on Biogen from $201.00 to $215.00 and gave the stock a "neutral" rating in a report on Thursday, July 30th. Barclays raised their target price on shares of Biogen from $185.00 to $200.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 29th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Biogen in a report on Monday, June 22nd. Finally, 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 report on Monday, July 13th. One investment 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 issued a Sell rating to the company's stock. According to MarketBeat.com, Biogen has an average rating of "Moderate Buy" and a consensus price target of $230.14.

About Biogen

Biogen Inc is a biotechnology company focused on discovering, developing and commercializing therapies for neurological and neurodegenerative diseases. Founded in 1978, the company is headquartered in Cambridge, Massachusetts, and serves patients and healthcare providers in markets around the world.

Biogen's portfolio includes treatments for multiple sclerosis, including Tecfidera, Vumerity, Tysabri, Avonex and Plegridy, as well as Spinraza for spinal muscular atrophy, developed in collaboration with Ionis Pharmaceuticals.

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