KBC Group NV Raises Stock Position in Biogen Inc. $BIIB

Key Points

• KBC Group NV increased its Biogen stake by 339.5% in the first quarter, adding 181,294 shares to reach 234,692 shares valued at about $43.0 million.
• Other institutional investors also made sizable moves in BIIB, and 87.93% of Biogen’s stock is now held by hedge funds and other institutional investors.
• Biogen recently reported better-than-expected earnings, with Q1 EPS of $3.57 versus $2.95 expected and revenue of $2.48 billion, while analysts currently rate the stock a Moderate Buy with a consensus price target of $220.04.

KBC Group NV lifted its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 339.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 234,692 shares of the biotechnology company's stock after buying an additional 181,294 shares during the period. KBC Group NV owned about 0.16% of Biogen worth $43,026,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in BIIB. SG Americas Securities LLC lifted its stake in Biogen by 1,793.8% in the fourth quarter. SG Americas Securities LLC now owns 183,829 shares of the biotechnology company's stock worth $32,352,000 after purchasing an additional 174,122 shares during the last quarter. LSV Asset Management grew its position 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 acquiring an additional 9,976 shares during the last quarter. Catalyst Funds Management Pty Ltd purchased a new stake in Biogen in the fourth quarter worth $2,006,000. Systematic Financial Management LP lifted its position in shares of Biogen by 256.3% during the fourth quarter. Systematic Financial Management LP now owns 16,640 shares of the biotechnology company's stock worth $2,928,000 after purchasing an additional 11,970 shares during the last quarter. Finally, Contrarius Group Holdings Ltd purchased a new stake in shares of Biogen during the fourth quarter valued at $11,431,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on BIIB. Citigroup raised their price target on shares of Biogen from $190.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, May 1st. HC Wainwright reissued a "buy" rating on shares of Biogen in a research report on Thursday, May 14th. Cantor Fitzgerald restated an "overweight" rating on shares of Biogen in a research note on Monday, June 22nd. Oppenheimer lifted their price target on shares of Biogen from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Thursday, May 14th. Finally, Weiss Ratings upgraded Biogen from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Biogen presently has a consensus rating of "Moderate Buy" and a consensus price target of $220.04.

Biogen Stock Down 2.9%

NASDAQ:BIIB opened at $199.95 on Tuesday. Biogen Inc. has a 1-year low of $121.05 and a 1-year high of $219.72. The company has a 50-day moving average of $199.47 and a 200 day moving average of $189.25. The firm has a market cap of $29.52 billion, a PE ratio of 21.45 and a beta of 0.16. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.06 and a quick ratio of 2.41.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, beating analysts' consensus estimates of $2.95 by $0.62. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter last year, the firm posted $3.02 EPS. The company's revenue for the quarter was up 1.9% on a year-over-year basis. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. As a group, research analysts anticipate that Biogen Inc. will post 13.45 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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