Cibc World Market Inc. Makes New $1.60 Million Investment in Biogen Inc. $BIIB

Key Points

• Cibc World Market Inc. purchased 7,424 Biogen shares worth approximately $1.6 million during the second quarter. Institutional investors collectively own 87.93% of BIIB.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of $227.79. Recent targets range from $190 to $300.
• Biogen beat quarterly expectations, reporting $3.60 in earnings per share versus a $2.94 consensus and $2.74 billion in revenue, up 3.4% year over year.

Cibc World Market Inc. purchased a new stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 7,424 shares of the biotechnology company's stock, valued at approximately $1,604,000.

A number of other institutional investors also recently modified their holdings of BIIB. Reflection Asset Management bought a new stake in shares of Biogen during the 4th quarter worth $25,000. Bell Investment Advisors Inc bought a new position in Biogen in the 2nd quarter worth $27,000. WFA of San Diego LLC acquired a new position in Biogen during the 2nd quarter worth $32,000. Root Financial Partners LLC lifted its position in Biogen by 198.4% during the 4th quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company's stock worth $33,000 after acquiring an additional 123 shares during the last quarter. Finally, MV Capital Management Inc. bought a new stake in Biogen during the fourth quarter valued at about $34,000. Institutional investors own 87.93% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BIIB. Guggenheim lifted their price objective on Biogen from $260.00 to $280.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Oppenheimer restated an "outperform" rating and set a $300.00 target price on shares of Biogen in a research note on Wednesday, July 29th. Wedbush raised their target price on Biogen from $201.00 to $215.00 and gave the company a "neutral" rating in a report on Thursday, July 30th. Rothschild & Co Redburn lifted their price target on Biogen from $180.00 to $190.00 in a research report on Thursday, April 30th. Finally, HC Wainwright upped their price target on Biogen from $237.00 to $251.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Biogen has a consensus rating of "Moderate Buy" and a consensus target price of $227.79.

Biogen Stock Up 0.2%

Shares of BIIB opened at $221.50 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 1.87. The company has a 50-day simple moving average of $207.37 and a 200-day simple moving average of $195.52. Biogen Inc. has a 52 week low of $131.52 and a 52 week high of $222.85. The firm has a market capitalization of $32.73 billion, a P/E ratio of 39.20, a P/E/G ratio of 6.89 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 earnings per share for the quarter, topping analysts' consensus estimates of $2.94 by $0.66. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the business earned $5.47 earnings per share. The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, equities research analysts expect that Biogen Inc. will post 12.39 earnings per share for the current 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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