Canal Insurance CO acquired a new stake in Biogen Inc. (NASDAQ:BIIB – Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 20,000 shares of the biotechnology company’s stock, valued at approximately $3,667,000.
Several other large investors also recently modified their holdings of the stock. Emerald Mutual Fund Advisers Trust grew its stake in Biogen by 26.5% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 3,117 shares of the biotechnology company’s stock valued at $571,000 after buying an additional 652 shares during the last quarter. Legacy Capital Group California Inc. bought a new position in Biogen in the 1st quarter valued at about $532,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in Biogen by 24.0% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,751 shares of the biotechnology company’s stock worth $504,000 after acquiring an additional 533 shares during the last quarter. Principal Financial Group Inc. lifted its position in Biogen by 1.6% during the first quarter. Principal Financial Group Inc. now owns 187,059 shares of the biotechnology company’s stock worth $34,294,000 after acquiring an additional 2,870 shares during the last quarter. Finally, Chicago Partners Investment Group LLC boosted its holdings in shares of Biogen by 63.3% during the first quarter. Chicago Partners Investment Group LLC now owns 4,598 shares of the biotechnology company’s stock worth $874,000 after acquiring an additional 1,782 shares during the period. 87.93% of the stock is owned by institutional investors.
Biogen Stock Up 5.0%
Shares of BIIB opened at $209.03 on Tuesday. The company has a current ratio of 3.06, a quick ratio of 2.41 and a debt-to-equity ratio of 0.34. Biogen Inc. has a 12 month low of $121.05 and a 12 month high of $219.72. The firm’s 50 day moving average is $198.64 and its 200-day moving average is $188.40. The stock has a market capitalization of $30.86 billion, a PE ratio of 22.43 and a beta of 0.16.
Analysts Set New Price Targets
BIIB has been the topic of several research reports. Wedbush reaffirmed a “neutral” rating and issued a $201.00 target price on shares of Biogen in a research report on Monday. Needham & Company LLC lifted their price target on Biogen from $255.00 to $256.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Piper Sandler restated an “overweight” rating and issued a $225.00 price target (up from $214.00) on shares of Biogen in a research note on Friday, May 15th. Weiss Ratings raised Biogen from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Finally, Truist Financial upgraded Biogen from a “hold” rating to a “buy” rating and increased their price objective for the stock from $190.00 to $235.00 in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.04.
Get Our Latest Stock Analysis on BIIB
Biogen News Summary
Here are the key news stories impacting Biogen this week:
- Positive Sentiment: The FDA approved LEQEMBI IQLIK, a subcutaneous at-home initiation dose for early Alzheimer’s disease. The move could expand patient access, reduce clinic visits, and make Biogen’s co-marketed Alzheimer’s franchise more commercially attractive. FDA Approves LEQEMBI IQLIK (lecanemab-irmb) Subcutaneous Injection as an Initiation Dose for Early Alzheimer’s Disease
- Positive Sentiment: Clinical and conference data presented over the past day support that the subcutaneous LEQEMBI autoinjector has efficacy and safety similar to the IV version, while offering at-home convenience and flexible switching between dosing methods. LEQEMBI Subcutaneous Autoinjector Clinical Data Supports Similar Efficacy and Safety to IV Formulation in Early Alzheimer’s Disease Presented at the Alzheimer’s Association International Conference 2026
- Positive Sentiment: Truist upgraded Biogen to Buy and lifted its price target to $235 from $190, citing growing confidence in the company’s Alzheimer’s and immunology pipeline ahead of upcoming data readouts. Truist upgrades Biogen to Buy on Alzheimer’s, pipeline optimism ahead of key data
Biogen Company 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.
Featured Stories
- Five stocks we like better than Biogen
- The SK Hynix IPO and 2027’s AI Memory Squeeze
- Meta Platforms Stock Rises as Muse Spark 1.1 AI Model Debuts
- Why Welltower’s Growth Story Might Outrun Its Rich Valuation
- One Short- and One Long-Term ETF for Quantum Computing Bulls
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.
