OMERS ADMINISTRATION Corp Raises Position in Biogen Inc. $BIIB

OMERS ADMINISTRATION Corp increased its stake in Biogen Inc. (NASDAQ:BIIB – Free Report) by 19.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,149 shares of the biotechnology company’s stock after buying an additional 3,341 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Biogen were worth $3,694,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Empowered Funds LLC raised its stake in shares of Biogen by 64.9% during the first quarter. Empowered Funds LLC now owns 7,054 shares of the biotechnology company’s stock valued at $965,000 after purchasing an additional 2,777 shares during the period. Focus Partners Wealth boosted its stake in shares of Biogen by 172.2% in 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 during the period. Sivia Capital Partners LLC acquired a new stake in Biogen during the 2nd quarter valued at $216,000. Cerity Partners LLC grew its holdings in Biogen by 15.3% during the 2nd 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 in the last quarter. Finally, NewEdge Advisors LLC increased its stake in Biogen by 13.4% during the 2nd quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company’s stock worth $336,000 after buying an additional 316 shares during the period. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Get Biogen alerts:

Biogen Stock Performance

Shares of NASDAQ BIIB opened at $200.14 on Tuesday. The company has a quick ratio of 2.41, a current ratio of 3.06 and a debt-to-equity ratio of 0.34. The firm’s 50-day moving average price is $199.95 and its two-hundred day moving average price is $190.08. Biogen Inc. has a 52-week low of $124.56 and a 52-week high of $219.72. The stock has a market capitalization of $29.55 billion, a P/E ratio of 21.47 and a beta of 0.16.

Biogen (NASDAQ:BIIB – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.95 by $0.62. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the prior year, the firm earned $3.02 EPS. The business’s quarterly revenue 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, sell-side analysts forecast that Biogen Inc. will post 11.29 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on BIIB. UBS Group raised shares of Biogen from a “neutral” rating to a “buy” rating and upped their price objective for the company from $185.00 to $225.00 in a research report on Wednesday, April 22nd. Argus raised Biogen to a “hold” rating in a research report on Thursday, April 9th. Citigroup boosted their price target on Biogen from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. The Goldman Sachs Group increased their price target on Biogen from $231.00 to $238.00 and gave the company a “buy” rating in a report on Friday, April 24th. Finally, Guggenheim raised their price objective on Biogen from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Biogen has a consensus rating of “Moderate Buy” and a consensus target price of $220.57.

Check Out Our Latest Analysis on Biogen

Biogen Profile

(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.

Further Reading

• Five stocks we like better than Biogen
• AirJoule’s Kubota Deal Is a Major Validation—But the Hard Part Comes Next
• Dividend Stocks May Be the Quiet Rotation Trade Investors Are Missing Now
• Refiner Stocks Are Near Record Highs—Can Iran-Driven Margins Keep Them There?
• Verizon May Be an AI Infrastructure Stock Hiding in Plain Sight

Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.