Bank of Hawaii Acquires Shares of 6,667 Biogen Inc. $BIIB

Key Points

• Bank of Hawaii opened a new position in Biogen during the fourth quarter, buying 6,667 shares valued at about $1.17 million.
• Biogen continues to attract major institutional interest, with several hedge funds adding stakes and 87.93% of the stock now held by institutions and hedge funds.
• Analysts remain broadly positive on Biogen after its RayThera acquisition, with firms including Needham, Morgan Stanley, Piper Sandler, and UBS raising targets or backing the stock despite some legal and clinical overhangs.

Bank of Hawaii bought a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,667 shares of the biotechnology company's stock, valued at approximately $1,173,000.

Several other hedge funds have also modified their holdings of the business. Norges Bank purchased a new position in shares of Biogen in the 4th quarter valued at about $464,408,000. Boston Partners acquired a new stake in shares of Biogen during the 4th quarter valued at approximately $302,815,000. Fred Alger Management LLC boosted its stake in shares of Biogen by 39,074.8% during the 4th quarter. Fred Alger Management LLC now owns 798,774 shares of the biotechnology company's stock worth $140,576,000 after acquiring an additional 796,735 shares in the last quarter. Orion Porfolio Solutions LLC grew its holdings in shares of Biogen by 6,828.4% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company's stock worth $64,965,000 after acquiring an additional 509,809 shares during the period. Finally, Caisse de depot et placement du Quebec increased its stake in Biogen by 718.2% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 569,253 shares of the biotechnology company's stock valued at $79,741,000 after purchasing an additional 499,676 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Biogen

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Biogen’s planned RayThera acquisition expands its immunology pipeline with multiple anti-inflammatory assets, which could improve future growth opportunities and make the company less dependent on a single therapeutic area. Reuters article
• Positive Sentiment: Needham reiterated a Buy rating and set a $255 price target, signaling that some analysts see the deal as supportive of Biogen’s long-term earnings potential. TipRanks article
• Positive Sentiment: Morgan Stanley raised its price target on Biogen to $224 from $206, which may have helped reinforce bullish sentiment around the stock. Benzinga article
• Neutral Sentiment: Biogen shares were also reported to be outperforming peers even as broader healthcare stocks declined, suggesting relative strength rather than a company-specific selloff. MarketWatch article
• Negative Sentiment: An investor alert from Pomerantz LLP disclosed an investigation into claims on behalf of Biogen investors, which could add legal overhang and keep some pressure on sentiment. PR Newswire article

Biogen Stock Performance

NASDAQ:BIIB opened at $196.58 on Friday. The firm's fifty day simple moving average is $190.80 and its 200 day simple moving average is $184.89. 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 twelve month low of $121.05 and a twelve month high of $205.97. The firm has a market capitalization of $29.02 billion, a price-to-earnings ratio of 21.09 and a beta of 0.20.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, beating the consensus estimate of $2.95 by $0.62. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period last year, the company posted $3.02 earnings per share. The firm's revenue was up 1.9% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. As a group, equities research analysts expect that Biogen Inc. will post 13.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BIIB has been the subject of a number of research analyst reports. Piper Sandler restated an "overweight" rating and issued a $225.00 price target (up from $214.00) on shares of Biogen in a research report on Friday, May 15th. UBS Group upgraded shares of Biogen from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $185.00 to $225.00 in a research report on Wednesday, April 22nd. Morgan Stanley increased their price objective on shares of Biogen from $206.00 to $224.00 and gave the company an "equal weight" rating in a research note on Thursday. Truist Financial cut their target price on shares of Biogen from $193.00 to $189.00 and set a "hold" rating for the company in a research report on Monday, April 13th. Finally, JPMorgan Chase & Co. upped their price target on shares of Biogen from $175.00 to $185.00 and gave the company a "neutral" rating in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Biogen has an average rating of "Moderate Buy" and a consensus target price of $217.37.

Biogen Company 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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