Zurcher Kantonalbank Zurich Cantonalbank Buys 104,038 Shares of Biogen Inc. $BIIB

Key Points

• Zurcher Kantonalbank grew its stake in Biogen by 29.9%, purchasing 104,038 shares to hold 452,442 shares (about 0.31% of the company) valued at roughly $79.63 million per its latest 13F filing.
• Biogen posted a quarterly EPS beat of $1.99 versus a $1.61 consensus with $2.28 billion in revenue (down 7.2% year-over-year) and set FY2026 guidance of 15.25–16.25 EPS (analysts forecast ~15.83).
• Institutional investors own 87.93% of Biogen, and analyst coverage is mixed (13 Buys, 14 Holds, 1 Sell) yielding a consensus rating of "Hold" and a consensus price target of $208.23.

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 29.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 452,442 shares of the biotechnology company's stock after purchasing an additional 104,038 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.31% of Biogen worth $79,625,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Invesco Ltd. lifted its stake in shares of Biogen by 4.2% in the third quarter. Invesco Ltd. now owns 2,418,127 shares of the biotechnology company's stock valued at $338,731,000 after buying an additional 98,001 shares during the period. AQR Capital Management LLC increased its stake in Biogen by 30.7% during the third quarter. AQR Capital Management LLC now owns 1,783,581 shares of the biotechnology company's stock valued at $248,809,000 after acquiring an additional 418,776 shares during the period. Legal & General Group Plc increased its stake in Biogen by 10.1% during the third quarter. Legal & General Group Plc now owns 1,593,399 shares of the biotechnology company's stock valued at $223,203,000 after acquiring an additional 146,583 shares during the period. Pacer Advisors Inc. raised its holdings in Biogen by 9.9% in the 3rd quarter. Pacer Advisors Inc. now owns 1,451,249 shares of the biotechnology company's stock valued at $203,291,000 after acquiring an additional 131,258 shares in the last quarter. Finally, Man Group plc raised its holdings in Biogen by 15.7% in the 3rd quarter. Man Group plc now owns 918,025 shares of the biotechnology company's stock valued at $128,597,000 after acquiring an additional 124,743 shares in the last quarter. Institutional investors own 87.93% of the company's stock.

Biogen Price Performance

BIIB opened at $177.35 on Monday. The firm has a market cap of $26.03 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 2.38 and a beta of 0.16. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.03 and a current ratio of 2.68. The firm's 50-day simple moving average is $185.82 and its 200-day simple moving average is $174.24. Biogen Inc. has a twelve month low of $115.25 and a twelve month high of $202.41.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings results on Friday, February 6th. The biotechnology company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.38. The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.21 billion. Biogen had a net margin of 13.07% and a return on equity of 12.64%. The firm's quarterly revenue was down 7.2% on a year-over-year basis. During the same period last year, the firm posted $3.44 EPS. Biogen has set its FY 2026 guidance at 15.250-16.250 EPS. Equities research analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Activity at Biogen

In other news, insider Priya Singhal sold 2,660 shares of the business's stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $199.83, for a total value of $531,547.80. Following the transaction, the insider directly owned 8,043 shares of the company's stock, valued at $1,607,232.69. The trade was a 24.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BIIB has been the topic of several recent research reports. Wells Fargo & Company lifted their price objective on Biogen from $190.00 to $200.00 and gave the stock an "equal weight" rating in a report on Sunday, February 8th. Wedbush upped their target price on Biogen from $187.00 to $191.00 and gave the company a "neutral" rating in a research note on Wednesday, April 1st. Canaccord Genuity Group lifted their price target on shares of Biogen from $230.00 to $245.00 and gave the stock a "buy" rating in a research note on Wednesday, April 1st. Wolfe Research set a $231.00 price target on shares of Biogen in a report on Monday, February 9th. Finally, Truist Financial dropped their price objective on shares of Biogen from $193.00 to $189.00 and set a "hold" rating for the company in a research note on Monday, April 13th. Thirteen investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $208.23.

Biogen 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.

Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc. (NASDAQ:BIIB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.