Canada Pension Plan Investment Board Makes New Investment in Biogen Inc. $BIIB

Key Points

• Canada Pension Plan Investment Board purchased 13,602 Biogen shares worth approximately $2.94 million, while institutional investors overall own 87.93% of the company.
• Biogen exceeded quarterly expectations, reporting $3.60 earnings per share versus the $2.94 consensus estimate and $2.74 billion in revenue, up 3.4% year over year.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $227.79, compared with the stock’s reported price of $218.50.

Canada Pension Plan Investment Board purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 13,602 shares of the biotechnology company's stock, valued at approximately $2,939,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BIIB. Empowered Funds LLC raised its stake in Biogen by 64.9% in the first quarter. Empowered Funds LLC now owns 7,054 shares of the biotechnology company's stock valued at $965,000 after buying an additional 2,777 shares during the last quarter. Focus Partners Wealth grew its stake in shares of Biogen by 172.2% during the first quarter. Focus Partners Wealth now owns 10,173 shares of the biotechnology company's stock worth $1,392,000 after acquiring an additional 6,436 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Biogen during the second quarter valued at about $216,000. Cerity Partners LLC increased its holdings in shares of Biogen by 15.3% during the second quarter. Cerity Partners LLC now owns 46,552 shares of the biotechnology company's stock valued at $5,847,000 after acquiring an additional 6,184 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of Biogen by 13.4% in the 2nd quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company's stock valued at $336,000 after purchasing an additional 316 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company's stock.

Biogen Stock Performance

NASDAQ BIIB opened at $218.50 on Monday. 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 company has a market capitalization of $32.28 billion, a PE ratio of 38.67, a P/E/G ratio of 6.81 and a beta of 0.17. The company has a fifty day moving average of $207.81 and a 200 day moving average of $195.69.

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 for the quarter, beating analysts' consensus estimates of $2.94 by $0.66. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.46 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The company's revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Research analysts forecast that Biogen Inc. will post 12.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BIIB. UBS Group lifted their target price on shares of Biogen from $225.00 to $240.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Piper Sandler restated an "overweight" rating on shares of Biogen in a research note on Tuesday, July 14th. Weiss Ratings cut shares of Biogen from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, August 12th. Evercore began coverage on shares of Biogen in a report on Friday, May 15th. They set an "outperform" rating on the stock. Finally, Oppenheimer reissued an "outperform" rating and issued a $300.00 target price on shares of Biogen in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $227.79.

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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