Daiichi Life Insurance Co. Ltd. Takes $1.17 Million Position in Biogen Inc. $BIIB

Daiichi Life Insurance Co. Ltd. purchased a new stake in Biogen Inc. (NASDAQ:BIIB - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,397 shares of the biotechnology company's stock, valued at approximately $1,166,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Empowered Funds LLC increased 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 purchasing an additional 2,777 shares in the last quarter. Focus Partners Wealth boosted its position in shares of Biogen by 172.2% during the 1st quarter. Focus Partners Wealth now owns 10,173 shares of the biotechnology company's stock worth $1,392,000 after purchasing an additional 6,436 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Biogen in the 2nd quarter valued at about $216,000. Cerity Partners LLC increased its position in Biogen by 15.3% in the 2nd quarter. Cerity Partners LLC now owns 46,552 shares of the biotechnology company's stock valued at $5,847,000 after buying an additional 6,184 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in Biogen by 13.4% during the 2nd quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company's stock worth $336,000 after buying an additional 316 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Biogen Stock Up 0.6%

BIIB opened at $218.12 on Tuesday. Biogen Inc. has a fifty-two week low of $131.52 and a fifty-two week high of $222.15. The firm has a market capitalization of $32.23 billion, a P/E ratio of 38.61, a PEG ratio of 6.75 and a beta of 0.17. The company's 50-day moving average is $205.92 and its 200 day moving average is $194.87. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.87 and a quick ratio of 1.26.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The firm's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Research analysts expect that Biogen Inc. will post 12.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Sanford C. Bernstein lowered their target price on Biogen from $201.00 to $200.00 in a research report on Thursday, April 30th. Royal Bank Of Canada reduced their price target on shares of Biogen from $242.00 to $240.00 and set an "outperform" rating for the company in a research report on Thursday, July 30th. Barclays upped their price objective on shares of Biogen from $185.00 to $200.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 29th. Wolfe Research raised shares of Biogen from a "peer perform" rating to an "outperform" rating and set a $300.00 price objective on the stock in a research note on Thursday, August 13th. Finally, Bank of America decreased their target price on shares of Biogen from $217.00 to $215.00 and set a "neutral" rating for the company in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Biogen has a consensus rating of "Moderate Buy" and an average target price of $227.07.

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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