K.J. Harrison & Partners Inc Makes New $2.16 Million Investment in Biogen Inc. $BIIB

Key Points

• K.J. Harrison & Partners purchased 10,000 Biogen shares worth approximately $2.16 million during the second quarter. Institutional investors collectively own 87.93% of the company.
• Analysts maintain a generally positive view, with Biogen receiving a consensus “Moderate Buy” rating and an average price target of $227.07.
• Biogen exceeded quarterly expectations, reporting $3.60 in earnings per share and $2.74 billion in revenue, while quarterly revenue increased 3.4% year over year.

K.J. Harrison & Partners Inc purchased a new stake in Biogen Inc. (NASDAQ:BIIB - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,000 shares of the biotechnology company's stock, valued at approximately $2,161,000.

Other large investors have also modified their holdings of the company. Reflection Asset Management acquired a new stake in shares of Biogen during the fourth quarter worth $25,000. WPG Advisers LLC boosted its position in shares of Biogen by 417.9% in the 4th quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company's stock valued at $26,000 after purchasing an additional 117 shares during the period. Bell Investment Advisors Inc purchased a new position in Biogen in the 2nd quarter worth about $27,000. First Horizon Corp purchased a new position in Biogen in the 4th quarter worth about $30,000. Finally, WFA of San Diego LLC acquired a new stake in Biogen during the 2nd quarter worth about $32,000. 87.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BIIB. Canaccord Genuity Group upped their price objective on shares of Biogen from $245.00 to $248.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. The Goldman Sachs Group lifted their target price on shares of Biogen from $231.00 to $238.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. Jefferies Financial Group restated a "buy" rating on shares of Biogen in a report on Monday, July 13th. Barclays upped their price target on shares of Biogen from $185.00 to $200.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings lowered shares of Biogen from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Biogen currently has a consensus rating of "Moderate Buy" and an average price target of $227.07.

Biogen Trading Down 0.3%

NASDAQ:BIIB opened at $209.15 on Tuesday. 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 Inc. has a fifty-two week low of $131.52 and a fifty-two week high of $219.72. The stock's 50-day moving average is $204.09 and its two-hundred day moving average is $193.49. The stock has a market cap of $30.90 billion, a PE ratio of 37.02, a price-to-earnings-growth ratio of 6.48 and a beta of 0.17.

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 analysts' consensus estimates of $2.94 by $0.66. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.46 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The firm's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, 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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