Caisse de depot et placement du Quebec Makes New $110.23 Million Investment in Biogen Inc. $BIIB

Key Points

• Caisse de dépôt et placement du Québec acquired 510,194 Biogen shares worth approximately $110.2 million, giving it a 0.35% stake. Institutional investors collectively owned 87.93% of the company.
• Analyst sentiment is broadly positive: Biogen has a “Moderate Buy” consensus rating and an average price target of $227.79, with recent upgrades including Wolfe Research and Truist Financial.
• Biogen reported quarterly earnings of $3.60 per share, beating estimates of $2.94, while revenue reached $2.74 billion and rose 3.4% year over year. Shares opened at $221.07, near their 52-week high of $222.85.

Caisse de depot et placement du Quebec purchased a new stake in Biogen Inc. (NASDAQ:BIIB - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 510,194 shares of the biotechnology company's stock, valued at approximately $110,233,000. Caisse de depot et placement du Quebec owned approximately 0.35% of Biogen at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Biogen during the 2nd quarter worth approximately $3,453,878,000. Primecap Management Co. CA acquired a new stake in Biogen in the second quarter valued at approximately $3,274,304,000. Norges Bank acquired a new stake in Biogen in the fourth quarter valued at approximately $464,408,000. Boston Partners bought a new stake in shares of Biogen during the fourth quarter worth $302,815,000. Finally, Legal & General Group Plc bought a new stake in shares of Biogen during the second quarter worth $322,640,000. 87.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BIIB. Barclays increased their price target on Biogen from $185.00 to $200.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 29th. Wolfe Research raised Biogen from a "peer perform" rating to an "outperform" rating and set a $300.00 target price for the company in a report on Thursday, August 13th. Freedom Capital raised Biogen from a "hold" rating to a "strong-buy" rating in a report on Friday, May 1st. HSBC reiterated a "reduce" rating and issued a $157.00 target price on shares of Biogen in a research report on Monday, July 6th. Finally, Truist Financial upgraded Biogen from a "hold" rating to a "buy" rating and boosted their price target for the stock from $190.00 to $235.00 in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $227.79.

Biogen Stock Up 0.1%

Shares of NASDAQ:BIIB opened at $221.07 on Thursday. Biogen Inc. has a 1 year low of $131.52 and a 1 year high of $222.85. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.87 and a quick ratio of 1.26. The business's 50-day moving average is $206.87 and its 200-day moving average is $195.38. The company has a market capitalization of $32.66 billion, a price-to-earnings ratio of 39.13, a P/E/G ratio of 6.88 and a beta of 0.17.

Biogen (NASDAQ:BIIB - Get Free Report) last released its 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 analysts' expectations of $2.46 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The firm's revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Equities research analysts predict that Biogen Inc. will post 12.39 earnings per share for the current year.

Biogen 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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