Canal Insurance CO Buys Shares of 20,000 Biogen Inc. $BIIB

Canal Insurance CO bought a new stake in Biogen Inc. (NASDAQ:BIIB) in the 1st quarter, Holdings Channel reports. The institutional investor bought 20,000 shares of the biotechnology company’s stock, valued at approximately $3,667,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in BIIB. Norges Bank bought a new position in Biogen in the fourth quarter valued at approximately $464,408,000. Boston Partners bought a new stake in Biogen during the fourth quarter worth $302,815,000. Fred Alger Management LLC lifted its stake in Biogen by 39,074.8% during the fourth quarter. Fred Alger Management LLC now owns 798,774 shares of the biotechnology company’s stock worth $140,576,000 after purchasing an additional 796,735 shares during the last quarter. Employees Provident Fund Board acquired a new stake in shares of Biogen in the 4th quarter valued at $123,931,000. Finally, Orion Porfolio Solutions LLC boosted its holdings in shares of Biogen by 6,828.4% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company’s stock valued at $64,965,000 after purchasing an additional 509,809 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

More Biogen News

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BIIB. Guggenheim boosted their price target on Biogen from $246.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Oppenheimer lifted their target price on Biogen from $275.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Morgan Stanley lowered their target price on Biogen from $224.00 to $222.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 8th. Truist Financial raised Biogen from a “hold” rating to a “buy” rating and boosted their target price for the stock from $190.00 to $235.00 in a research note on Monday. Finally, Rothschild & Co Redburn increased their target price on shares of Biogen from $180.00 to $190.00 in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $220.04.

Biogen Trading Up 5.0%

NASDAQ BIIB opened at $209.03 on Tuesday. The company has a market cap of $30.86 billion, a price-to-earnings ratio of 22.43 and a beta of 0.16. Biogen Inc. has a twelve month low of $121.05 and a twelve month high of $219.72. 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 business’s fifty day moving average is $198.64 and its 200 day moving average is $188.40.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.95 by $0.62. The business had revenue of $2.48 billion during 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 for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. As a group, sell-side analysts expect that Biogen Inc. will post 13.77 EPS for the current fiscal 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.