BFI Infinity Ltd. Purchases 19,095 Shares of Biogen Inc. $BIIB

Key Points

• BFI Infinity Ltd. purchased 19,095 Biogen shares in the third quarter, valued at approximately $4.3 million, making Biogen 2.1% of its portfolio.
• Institutional ownership remains high at 87.93%, with major investors including BlackRock, Primecap Management, Wellington Management, Amundi, and Legal & General increasing or initiating positions.
• Biogen reported quarterly EPS of $3.60, beating estimates of $2.94, while revenue reached $2.74 billion. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $236.04.

BFI Infinity Ltd. purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 19,095 shares of the biotechnology company's stock, valued at approximately $4,313,000. Biogen accounts for 2.1% of BFI Infinity Ltd.'s investment portfolio, making the stock its 15th biggest holding.

A number of other hedge funds have also modified their holdings of the business. BlackRock Inc. acquired a new position in Biogen in the second quarter valued at about $3,453,878,000. Primecap Management Co. CA acquired a new stake in shares of Biogen during the second quarter valued at about $3,274,304,000. Wellington Management Group LLP increased its position in shares of Biogen by 5.3% during the second quarter. Wellington Management Group LLP now owns 3,117,469 shares of the biotechnology company's stock valued at $673,560,000 after acquiring an additional 155,828 shares during the last quarter. Amundi increased its position in shares of Biogen by 91.8% during the second quarter. Amundi now owns 1,516,831 shares of the biotechnology company's stock valued at $327,727,000 after acquiring an additional 726,004 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in shares of Biogen in the 2nd quarter worth approximately $322,640,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Stock Performance

Shares of BIIB stock opened at $235.35 on Friday. 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 Inc. has a 52 week low of $138.00 and a 52 week high of $240.99. The stock has a market capitalization of $34.77 billion, a PE ratio of 41.65, a P/E/G ratio of 2.57 and a beta of 0.09. The firm has a 50 day moving average of $219.47 and a two-hundred day moving average of $203.65.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, topping the consensus estimate 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%. The company's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter 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. On average, research analysts predict that Biogen Inc. will post 12.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Cantor Fitzgerald reissued an "overweight" rating on shares of Biogen in a research report on Monday, June 22nd. HSBC raised their price target on Biogen from $165.00 to $175.00 and gave the stock a "reduce" rating in a research report on Thursday, September 10th. Seaport Research Partners raised Biogen to an "outperform" rating in a research note on Monday. TD Cowen lifted their price objective on Biogen from $215.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Finally, Guggenheim boosted their price objective on Biogen from $260.00 to $280.00 and gave the company a "buy" rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $236.04.

Biogen Company Profile

Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for serious neurological and neurodegenerative diseases. Its research focuses on conditions including multiple sclerosis, spinal muscular atrophy, Alzheimer's disease, amyotrophic lateral sclerosis and rare neuromuscular disorders.

Biogen's products include Spinraza (nusinersen) for spinal muscular atrophy, Tysabri (natalizumab) and Tecfidera (dimethyl fumarate) for multiple sclerosis, Qalsody (tofersen) for a genetically defined form of ALS, and Skyclarys (omaveloxolone) for Friedreich's ataxia.

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