Biogen Inc. $BIIB Shares Purchased by Swedbank AB

Swedbank AB increased its holdings in Biogen Inc. (NASDAQ:BIIBFree Report) by 25.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 289,840 shares of the biotechnology company’s stock after purchasing an additional 58,231 shares during the quarter. Swedbank AB owned 0.20% of Biogen worth $53,136,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BIIB. Norges Bank acquired a new position in shares of Biogen during the 4th quarter worth approximately $464,408,000. Boston Partners acquired a new stake in Biogen in the 4th quarter valued at $302,815,000. Fred Alger Management LLC grew its stake in Biogen by 39,074.8% in the 4th quarter. Fred Alger Management LLC now owns 798,774 shares of the biotechnology company’s stock valued at $140,576,000 after acquiring an additional 796,735 shares during the period. Employees Provident Fund Board purchased a new stake in Biogen in the 4th quarter worth $123,931,000. Finally, Orion Porfolio Solutions LLC raised its position in Biogen by 6,828.4% during the second quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company’s stock worth $64,965,000 after acquiring an additional 509,809 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Stock Down 1.3%

BIIB stock opened at $205.70 on Wednesday. The company has a current ratio of 3.06, a quick ratio of 2.41 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average of $197.45 and a two-hundred day moving average of $187.61. Biogen Inc. has a 12 month low of $121.05 and a 12 month high of $219.72. The company has a market cap of $30.37 billion, a price-to-earnings ratio of 22.07 and a beta of 0.16.

Biogen (NASDAQ:BIIBGet Free Report) last issued its earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share for the quarter, topping the consensus estimate 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 previous year, the firm posted $3.02 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. As a group, analysts forecast that Biogen Inc. will post 13.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BIIB has been the topic of several research analyst reports. Wedbush lifted their target price on shares of Biogen from $191.00 to $196.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Mizuho reduced their price target on shares of Biogen from $236.00 to $221.00 and set an “outperform” rating for the company in a research report on Monday, June 15th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biogen in a research note on Monday, June 22nd. Argus upgraded Biogen to a “hold” rating in a research note on Thursday, April 9th. Finally, Canaccord Genuity Group increased their target price on Biogen from $230.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $218.22.

Read Our Latest Stock Analysis on Biogen

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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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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