The Manufacturers Life Insurance Company Buys New Position in Biogen Inc. $BIIB

Key Points

• The Manufacturers Life Insurance Company acquired 90,784 Biogen shares worth approximately $19.6 million in the second quarter, joining other institutions that increased their positions. Institutional investors now own 87.93% of BIIB.
• Analyst sentiment remains broadly positive, with Biogen holding a “Moderate Buy” consensus rating and an average price target of $227.79, despite mixed calls ranging from “Strong Buy” to “Reduce.”
• Biogen’s latest quarterly results beat expectations, reporting $3.60 in EPS versus a $2.94 consensus and $2.74 billion in revenue, up 3.4% year over year. The stock opened at $221.50, near its 52-week high of $222.85.

The Manufacturers Life Insurance Company bought a new stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 90,784 shares of the biotechnology company's stock, valued at approximately $19,615,000. The Manufacturers Life Insurance Company owned about 0.06% of Biogen at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BIIB. Empowered Funds LLC increased its stake in shares of Biogen by 64.9% in the 1st quarter. Empowered Funds LLC now owns 7,054 shares of the biotechnology company's stock worth $965,000 after purchasing an additional 2,777 shares in the last quarter. Focus Partners Wealth lifted its position in Biogen by 172.2% during the first quarter. Focus Partners Wealth now owns 10,173 shares of the biotechnology company's stock valued at $1,392,000 after purchasing an additional 6,436 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Biogen during the second quarter valued at $216,000. Cerity Partners LLC grew its holdings in Biogen by 15.3% during the second quarter. Cerity Partners LLC now owns 46,552 shares of the biotechnology company's stock valued at $5,847,000 after purchasing an additional 6,184 shares during the period. Finally, NewEdge Advisors LLC grew its holdings in Biogen by 13.4% during the second quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company's stock valued at $336,000 after purchasing an additional 316 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BIIB. Wall Street Zen downgraded Biogen from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Citigroup boosted their price objective on Biogen from $200.00 to $215.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. UBS Group increased their target price on shares of Biogen from $225.00 to $240.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Jefferies Financial Group restated a "buy" rating on shares of Biogen in a research note on Monday, July 13th. Finally, HSBC reiterated a "reduce" rating and issued a $157.00 price target on shares of Biogen in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Biogen presently has an average rating of "Moderate Buy" and a consensus price target of $227.79.

Biogen Trading Up 0.2%

BIIB stock opened at $221.50 on Friday. Biogen Inc. has a 1-year low of $131.52 and a 1-year high of $222.85. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.87 and a quick ratio of 1.26. The company has a market capitalization of $32.73 billion, a price-to-earnings ratio of 39.20, a PEG ratio of 6.89 and a beta of 0.17. The business has a 50 day simple moving average of $207.37 and a two-hundred day simple moving average of $195.52.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) 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 firm had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.46 billion. During the same quarter last year, the business posted $5.47 earnings per share. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Research analysts anticipate that Biogen Inc. will post 12.39 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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