Bank of Nova Scotia Buys Shares of 16,446 Biogen Inc. $BIIB

Key Points

• Bank of Nova Scotia acquired 16,446 Biogen shares during the second quarter, valued at approximately $3.55 million. Several other institutional investors also initiated positions, with institutions and hedge funds collectively owning 87.93% of BIIB.
• Biogen reported quarterly adjusted EPS of $3.60 and revenue of $2.74 billion, exceeding analyst expectations, while revenue increased 3.4% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $227.79.
• The U.S. launch of Biogen and Eisai’s once-weekly LEQEMBI IQLIK autoinjector could improve treatment convenience and support Alzheimer’s-related growth, but boxed-warning safety risks and required MRI monitoring may limit adoption.

Bank of Nova Scotia purchased a new stake in Biogen Inc. (NASDAQ:BIIB - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 16,446 shares of the biotechnology company's stock, valued at approximately $3,553,000.

Several other institutional investors and hedge funds also recently made changes to their positions in BIIB. Elevation Point Wealth Partners LLC bought a new stake in shares of Biogen in the second quarter valued at about $760,000. Daiichi Life Insurance Co. Ltd. bought a new position in shares of Biogen during the second quarter worth about $1,166,000. Commerce Bank bought a new position in shares of Biogen during the second quarter worth about $2,522,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Biogen in the 2nd quarter valued at approximately $1,577,000. Finally, Evolve Private Wealth LLC acquired a new stake in Biogen in the 2nd quarter valued at approximately $439,000. Institutional investors and hedge funds own 87.93% of the company's stock.

Trending Headlines about Biogen

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: LEQEMBI IQLIK launches in the U.S.: Biogen and Eisai announced that the once-weekly subcutaneous autoinjector is now available to initiate treatment for adults with early Alzheimer’s disease. The option can be administered at home, potentially reducing clinic visits, improving treatment convenience and expanding adoption of LEQEMBI. LEQEMBI IQLIK Autoinjector Available in the U.S.
• Positive Sentiment: Potential commercial benefit: LEQEMBI IQLIK offers flexibility between intravenous and subcutaneous dosing for both initiation and maintenance therapy. Easier administration could lower barriers for patients and caregivers and support longer-term revenue growth from Biogen’s Alzheimer’s partnership with Eisai. The drug has demonstrated a 27% slowing of cognitive decline versus placebo in the pivotal study, although Biogen shares commercialization with Eisai.
• Positive Sentiment: Fundamental and institutional support: Biogen’s latest reported quarter included adjusted EPS of $3.60 and revenue of $2.74 billion, both ahead of expectations. Recent data also indicate more institutional investors increased positions than reduced them, while several analysts maintain Buy or Outperform ratings and a median price target around $225.
• Neutral Sentiment: Short-interest report appears unreliable: The data lists zero shares sold short both before and after the reporting period, making the stated “large increase” and NaN percentage mathematically meaningless. It provides no credible evidence of a short squeeze or materially changed investor positioning.
• Negative Sentiment: Bearish valuation commentary: A recent analysis titled “3 Reasons to Sell BIIB” argues that the shares’ roughly 14.4% six-month gain has largely followed the broader market, raising questions about additional upside and relative attractiveness. The article’s bearish view could limit enthusiasm after the recent rally. 3 Reasons to Sell BIIB and 1 Stock to Buy Instead
• Negative Sentiment: LEQEMBI safety risks remain: The treatment carries a boxed warning for amyloid-related imaging abnormalities, including potentially serious brain swelling and hemorrhage. These risks, along with required MRI monitoring and higher ARIA incidence among ApoE ε4 homozygotes, could constrain uptake and increase implementation costs.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BIIB shares. Piper Sandler reissued an "overweight" rating on shares of Biogen in a research report on Tuesday, July 14th. Rothschild & Co Redburn upped their price objective on Biogen from $180.00 to $190.00 in a research note on Thursday, April 30th. Bank of America cut their price objective on Biogen from $217.00 to $215.00 and set a "neutral" rating for the company in a report on Tuesday, July 21st. Weiss Ratings cut shares of Biogen from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, August 12th. Finally, Mizuho boosted their target price on shares of Biogen from $221.00 to $241.00 and gave the stock an "outperform" rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $227.79.

Biogen Stock Performance

Shares of Biogen stock opened at $220.77 on Wednesday. The company has a current ratio of 1.87, a quick ratio of 1.26 and a debt-to-equity ratio of 0.39. The company has a market cap of $32.62 billion, a PE ratio of 39.07, a price-to-earnings-growth ratio of 6.80 and a beta of 0.17. The company has a 50 day moving average of $206.42 and a 200-day moving average of $195.12. Biogen Inc. has a 1-year low of $131.52 and a 1-year high of $222.85.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 prior year, the company earned $5.47 EPS. The firm's quarterly revenue was up 3.4% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, equities research analysts forecast that Biogen Inc. will post 12.39 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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