OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 18,867 shares of the biotechnology company's stock, valued at approximately $4,076,000.
Several other institutional investors and hedge funds have also recently modified their holdings of BIIB. Reflection Asset Management bought a new position in shares of Biogen in the fourth quarter valued at approximately $25,000. WPG Advisers LLC grew its holdings in Biogen by 417.9% during the fourth quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company's stock worth $26,000 after buying an additional 117 shares in the last quarter. Bell Investment Advisors Inc purchased a new stake in Biogen in the 2nd quarter valued at $27,000. First Horizon Corp purchased a new stake in Biogen in the 4th quarter valued at $30,000. Finally, WFA of San Diego LLC bought a new position in Biogen during the 2nd quarter valued at $32,000. 87.93% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
BIIB has been the topic of a number of analyst reports. Piper Sandler reaffirmed an "overweight" rating on shares of Biogen in a report on Tuesday, July 14th. Wall Street Zen lowered shares of Biogen from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. HSBC restated a "reduce" rating and set a $157.00 price target on shares of Biogen in a report on Monday, July 6th. Bank of America reduced their price objective 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. Finally, Mizuho increased their price objective on shares of Biogen from $221.00 to $241.00 and gave the company an "outperform" rating in a research note on Tuesday, August 4th. One 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $227.07.
Check Out Our Latest Stock Report on Biogen
Biogen Price Performance
Biogen stock opened at $214.35 on Friday. The business's 50 day simple moving average is $205.20 and its 200 day simple moving average is $194.32. Biogen Inc. has a 12 month low of $131.52 and a 12 month high of $222.15. The company has a market cap of $31.67 billion, a price-to-earnings ratio of 37.94, a PEG ratio of 6.90 and a beta of 0.17. The company has a current ratio of 1.87, a quick ratio of 1.26 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. The business had revenue of $2.74 billion during 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 business's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the business posted $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Sell-side analysts forecast that Biogen Inc. will post 12.39 EPS for the current year.
Biogen Profile
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Free Report)
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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