Rakuten Investment Management Inc. Takes Position in Biogen Inc. $BIIB

Rakuten Investment Management Inc. acquired a new position in Biogen Inc. (NASDAQ:BIIB – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 24,097 shares of the biotechnology company’s stock, valued at approximately $5,220,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Biogen during the 2nd quarter valued at approximately $3,453,878,000. Orbimed Advisors LLC purchased a new position in Biogen in the 1st quarter worth approximately $11,293,000. LSV Asset Management boosted its stake in Biogen by 3.3% in the 4th quarter. LSV Asset Management now owns 316,815 shares of the biotechnology company’s stock worth $55,756,000 after purchasing an additional 9,976 shares during the period. Catalyst Funds Management Pty Ltd bought a new position in Biogen in the 4th quarter worth approximately $2,006,000. Finally, Systematic Financial Management LP grew its holdings in Biogen by 256.3% during the 4th quarter. Systematic Financial Management LP now owns 16,640 shares of the biotechnology company’s stock valued at $2,928,000 after buying an additional 11,970 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

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Biogen Stock Down 1.4%

NASDAQ:BIIB opened at $218.50 on Friday. The stock has a fifty day simple moving average of $207.81 and a 200-day simple moving average of $195.68. The company has a current ratio of 1.87, a quick ratio of 1.26 and a debt-to-equity ratio of 0.39. The company has a market cap of $32.28 billion, a price-to-earnings ratio of 38.67, a price-to-earnings-growth ratio of 6.81 and a beta of 0.17. Biogen Inc. has a twelve month low of $131.52 and a twelve month high of $222.85.

Biogen (NASDAQ:BIIB – Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, topping 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 company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the firm posted $5.47 EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Analysts anticipate that Biogen Inc. will post 12.39 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Truist Financial upgraded shares of Biogen from a “hold” rating to a “buy” rating and lifted their price objective for the company from $190.00 to $235.00 in a research report on Monday, July 13th. Oppenheimer restated an “outperform” rating and set a $300.00 target price on shares of Biogen in a research report on Wednesday, July 29th. Guggenheim raised their target price on shares of Biogen from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Barclays lifted their price target on shares of Biogen from $185.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, July 29th. Finally, HSBC reiterated a “reduce” rating and issued a $157.00 price target on shares of Biogen in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $227.79.

Read Our Latest Report on BIIB

Biogen Company 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.

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