Handelsbanken Fonder AB Has $20.14 Million Stock Holdings in Biogen Inc. $BIIB

Key Points

• Handelsbanken Fonder AB increased its Biogen stake by 12.7% in the second quarter, bringing its holdings to 93,236 shares valued at approximately $20.14 million. Institutional investors collectively own 87.93% of Biogen.
• Analysts remain broadly positive, with Biogen receiving a consensus “Moderate Buy” rating and an average price target of $224.61; several firms recently raised their targets.
• Biogen reported quarterly EPS of $3.60, exceeding the $2.94 consensus estimate, while revenue rose 3.4% year over year to $2.74 billion. Shares opened at $208.87, near the company’s 52-week high of $219.72.

Handelsbanken Fonder AB raised its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 12.7% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 93,236 shares of the biotechnology company's stock after acquiring an additional 10,510 shares during the period. Handelsbanken Fonder AB owned about 0.06% of Biogen worth $20,145,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. LSV Asset Management grew its stake in Biogen by 3.3% in the 4th quarter. LSV Asset Management now owns 316,815 shares of the biotechnology company's stock valued at $55,756,000 after buying an additional 9,976 shares during the last quarter. Catalyst Funds Management Pty Ltd acquired a new position in Biogen during the 4th quarter worth $2,006,000. Orbimed Advisors LLC bought a new stake in Biogen during the first quarter valued at about $11,293,000. Systematic Financial Management LP boosted its holdings in Biogen by 256.3% during the fourth quarter. Systematic Financial Management LP now owns 16,640 shares of the biotechnology company's stock valued at $2,928,000 after acquiring an additional 11,970 shares during the period. Finally, Contrarius Group Holdings Ltd acquired a new stake in shares of Biogen in the fourth quarter valued at about $11,431,000. 87.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Rothschild & Co Redburn upped their target price on shares of Biogen from $180.00 to $190.00 in a research note on Thursday, April 30th. Jefferies Financial Group reiterated a "buy" rating on shares of Biogen in a research note on Monday, July 13th. TD Cowen lifted their target price on Biogen from $215.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. The Goldman Sachs Group boosted their price target on Biogen from $231.00 to $238.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Finally, Canaccord Genuity Group upped their price target on Biogen from $245.00 to $248.00 and gave the company a "buy" rating in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $224.61.

Biogen Trading Up 2.4%

Shares of BIIB stock opened at $208.87 on Thursday. The firm has a fifty day moving average of $203.19 and a 200-day moving average of $192.71. The stock has a market cap of $30.86 billion, a price-to-earnings ratio of 36.97, a P/E/G ratio of 6.30 and a beta of 0.17. Biogen Inc. has a 52-week low of $129.40 and a 52-week high of $219.72. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 1.87.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.66. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period in the previous year, the business earned $5.47 EPS. The firm's revenue was up 3.4% on a year-over-year basis. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, equities research analysts forecast that Biogen Inc. will post 12.5 earnings per share 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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