Candriam S.C.A. Purchases 51,296 Shares of Biogen Inc. $BIIB

Key Points

• Candriam S.C.A. increased its Biogen stake by 15.5% in the first quarter, buying 51,296 shares and bringing its total holding to 381,768 shares worth about $69.99 million.
• Biogen continues to attract heavy institutional interest, with 87.93% of the stock owned by institutions and hedge funds after several other firms also increased their positions.
• Analysts remain mixed but generally positive on BIIB, with a Moderate Buy consensus and a consensus price target of $218.15; the company also recently beat quarterly EPS and revenue estimates.

Candriam S.C.A. lifted its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 15.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 381,768 shares of the biotechnology company's stock after acquiring an additional 51,296 shares during the period. Candriam S.C.A. owned approximately 0.26% of Biogen worth $69,990,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BIIB. Rothschild Investment LLC grew its stake in Biogen by 12.3% during the fourth quarter. Rothschild Investment LLC now owns 513 shares of the biotechnology company's stock worth $90,000 after purchasing an additional 56 shares during the period. Itau Unibanco Holding S.A. lifted its stake in Biogen by 24.4% in the fourth quarter. Itau Unibanco Holding S.A. now owns 337 shares of the biotechnology company's stock valued at $59,000 after buying an additional 66 shares during the period. Advisory Services Network LLC lifted its stake in Biogen by 3.9% in the third quarter. Advisory Services Network LLC now owns 1,792 shares of the biotechnology company's stock valued at $251,000 after buying an additional 68 shares during the period. Davis Investment Partners LLC boosted its holdings in shares of Biogen by 1.7% during the 4th quarter. Davis Investment Partners LLC now owns 4,374 shares of the biotechnology company's stock worth $778,000 after buying an additional 71 shares in the last quarter. Finally, Optas LLC boosted its holdings in shares of Biogen by 4.5% during the 4th quarter. Optas LLC now owns 1,706 shares of the biotechnology company's stock worth $300,000 after buying an additional 73 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BIIB has been the subject of several research analyst reports. HSBC reiterated a "reduce" rating and issued a $157.00 price objective on shares of Biogen in a research note on Monday. Freedom Capital raised shares of Biogen from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 1st. Truist Financial reduced their price target on shares of Biogen from $193.00 to $189.00 and set a "hold" rating for the company in a report on Monday, April 13th. JPMorgan Chase & Co. lifted their price target on shares of Biogen from $175.00 to $185.00 and gave the company a "neutral" rating in a research note on Thursday, April 23rd. Finally, Wedbush upped their price objective on shares of Biogen from $191.00 to $196.00 and gave the company a "neutral" rating in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Biogen presently has a consensus rating of "Moderate Buy" and a consensus price target of $218.15.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $199.15 on Friday. The company has a quick ratio of 2.41, a current ratio of 3.06 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 $219.72. The stock's 50 day moving average is $198.25 and its 200-day moving average is $188.07. The firm has a market capitalization of $29.40 billion, a price-to-earnings ratio of 21.37 and a beta of 0.16.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.95 by $0.62. The company had revenue of $2.48 billion for the quarter, compared to analysts' expectations of $2.29 billion. Biogen had a return on equity of 12.83% and a net margin of 13.81%.Biogen's quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Sell-side analysts forecast that Biogen Inc. will post 13.77 EPS 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.

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