Biogen Inc. $BIIB Shares Bought by Swedbank AB

Swedbank AB grew its position in Biogen Inc. (NASDAQ:BIIB) by 25.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 289,840 shares of the biotechnology company’s stock after purchasing an additional 58,231 shares during the period. Swedbank AB’s holdings in Biogen were worth $53,136,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Biogen by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 17,447,092 shares of the biotechnology company’s stock worth $3,070,514,000 after acquiring an additional 157,857 shares during the period. Geode Capital Management LLC raised its position in Biogen by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 4,199,399 shares of the biotechnology company’s stock valued at $736,435,000 after purchasing an additional 130,618 shares during the period. Norges Bank purchased a new stake in Biogen in the fourth quarter valued at $464,408,000. Invesco Ltd. lifted its stake in shares of Biogen by 4.2% in the 3rd quarter. Invesco Ltd. now owns 2,418,127 shares of the biotechnology company’s stock valued at $338,731,000 after purchasing an additional 98,001 shares during the last quarter. Finally, Morgan Stanley lifted its stake in shares of Biogen by 3.3% in the 4th quarter. Morgan Stanley now owns 2,325,013 shares of the biotechnology company’s stock valued at $409,180,000 after purchasing an additional 73,478 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on BIIB shares. Truist Financial cut their price objective on Biogen from $193.00 to $189.00 and set a “hold” rating for the company in a research report on Monday, April 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biogen in a research note on Monday, June 22nd. Guggenheim lifted their price target on shares of Biogen from $246.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. boosted their price target on shares of Biogen from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, April 23rd. Finally, Oppenheimer upped their price objective on shares of Biogen from $275.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $218.22.

Biogen Stock Down 1.3%

Shares of NASDAQ:BIIB opened at $205.70 on Wednesday. The firm has a market capitalization of $30.37 billion, a PE ratio of 22.07 and a beta of 0.16. Biogen Inc. has a 1 year low of $121.05 and a 1 year high of $219.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.06 and a quick ratio of 2.41. The firm’s 50-day moving average is $197.45 and its two-hundred day moving average is $187.61.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, beating the consensus estimate of $2.95 by $0.62. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same quarter last year, the firm posted $3.02 earnings per share. 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. Analysts predict that Biogen Inc. will post 13.95 EPS for the current year.

Biogen 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.