USS Investment Management Ltd Increases Stock Position in Biogen Inc. $BIIB

USS Investment Management Ltd grew its holdings in shares of Biogen Inc. (NASDAQ:BIIB – Free Report) by 8.8% in the 1st quarter, Holdings Channel reports. The fund owned 37,217 shares of the biotechnology company’s stock after acquiring an additional 3,001 shares during the period. USS Investment Management Ltd’s holdings in Biogen were worth $6,822,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Reflection Asset Management acquired a new stake in Biogen during the 4th quarter valued at approximately $25,000. WPG Advisers LLC raised its position in shares of Biogen by 417.9% in the 4th quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 117 shares in the last quarter. First Horizon Corp purchased a new position in shares of Biogen during the 4th quarter valued at approximately $30,000. WFA of San Diego LLC acquired a new stake in shares of Biogen during the second quarter worth approximately $32,000. Finally, Root Financial Partners LLC grew its position in shares of Biogen by 198.4% during the fourth quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company’s stock worth $33,000 after buying an additional 123 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

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Biogen Stock Up 3.0%

Shares of BIIB opened at $216.12 on Friday. 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 company has a 50-day moving average price of $196.09 and a two-hundred day moving average price of $186.83. The stock has a market cap of $31.91 billion, a price-to-earnings ratio of 23.19 and a beta of 0.16. Biogen Inc. has a 12 month low of $121.05 and a 12 month high of $219.72.

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, beating analysts’ consensus estimates of $2.95 by $0.62. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The business’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted $3.02 earnings per share. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Equities analysts predict that Biogen Inc. will post 13.95 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on BIIB. Piper Sandler reissued an “overweight” rating and set a $225.00 price objective (up from $214.00) on shares of Biogen in a report on Friday, May 15th. Guggenheim upped their price target on shares of Biogen from $246.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Royal Bank Of Canada lifted their price objective on shares of Biogen from $222.00 to $227.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Morgan Stanley raised their price objective on Biogen from $206.00 to $224.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 18th. Finally, HC Wainwright reiterated a “buy” rating on shares of Biogen in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $217.41.

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About Biogen

(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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