Commerce Bank Purchases New Stake in Biogen Inc. $BIIB

Key Points

• Commerce Bank purchased 11,672 Biogen shares in the second quarter, valued at approximately $2.52 million. Institutional investors and hedge funds collectively own 87.93% of the company.
• Analysts maintain a “Moderate Buy” consensus on Biogen, with an average price target of $227.07; ratings include 18 Buys, 13 Holds, one Strong Buy and one Sell.
• Biogen reported quarterly EPS of $3.60, exceeding estimates of $2.94, while revenue rose 3.4% year over year to $2.74 billion. Shares opened at $218.12, near the company’s 12-month high of $222.15.

Commerce Bank purchased a new stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 11,672 shares of the biotechnology company's stock, valued at approximately $2,522,000.

Several other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Biogen during the second quarter valued at about $3,453,878,000. Norges Bank acquired a new stake in shares of Biogen in the 4th quarter worth about $464,408,000. Boston Partners acquired a new stake in shares of Biogen in the 4th quarter worth about $302,815,000. Deutsche Bank AG bought a new position in Biogen in the 2nd quarter valued at about $193,165,000. Finally, Fred Alger Management LLC lifted its position in Biogen by 39,074.8% in the 4th quarter. Fred Alger Management LLC now owns 798,774 shares of the biotechnology company's stock valued at $140,576,000 after acquiring an additional 796,735 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BIIB. HSBC reissued a "reduce" rating and set a $157.00 price objective on shares of Biogen in a report on Monday, July 6th. Bank of America lowered their price target on Biogen from $217.00 to $215.00 and set a "neutral" rating for the company in a research report on Tuesday, July 21st. HC Wainwright lifted their price objective on shares of Biogen from $237.00 to $251.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Rothschild & Co Redburn increased their target price on shares of Biogen from $180.00 to $190.00 in a report on Thursday, April 30th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Biogen in a research report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $227.07.

Biogen Stock Up 0.6%

BIIB opened at $218.12 on Tuesday. The company's 50-day moving average price is $205.92 and its two-hundred day moving average price is $194.87. Biogen Inc. has a twelve month low of $131.52 and a twelve month high of $222.15. The stock has a market cap of $32.23 billion, a price-to-earnings ratio of 38.61, a PEG ratio of 6.75 and a beta of 0.17. 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 (NASDAQ:BIIB - Get Free Report) last released its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the business posted $5.47 earnings per share. The business's revenue for the quarter was up 3.4% on a year-over-year basis. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, equities analysts expect 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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