Principal Financial Group Inc. Purchases 2,870 Shares of Biogen Inc. $BIIB

Principal Financial Group Inc. boosted its position in shares of Biogen Inc. (NASDAQ:BIIB) by 1.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 187,059 shares of the biotechnology company’s stock after acquiring an additional 2,870 shares during the quarter. Principal Financial Group Inc. owned 0.13% of Biogen worth $34,294,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Biogen during the 4th quarter valued at about $464,408,000. Boston Partners purchased a new position in shares of Biogen in the fourth quarter worth approximately $302,815,000. Fred Alger Management LLC grew its position 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 valued at $140,576,000 after buying an additional 796,735 shares during the period. Employees Provident Fund Board purchased a new stake in Biogen during the fourth quarter valued at approximately $123,931,000. Finally, Orion Porfolio Solutions LLC increased its holdings 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 valued at $64,965,000 after buying an additional 509,809 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Stock Down 1.4%

BIIB opened at $205.99 on Friday. The stock has a market cap of $30.41 billion, a price-to-earnings ratio of 22.10 and a beta of 0.16. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.41 and a current ratio of 3.06. The firm’s fifty day moving average is $199.43 and its 200 day moving average is $189.00. Biogen Inc. has a fifty-two week low of $121.05 and a fifty-two week high of $219.72.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the firm earned $3.02 earnings per share. The business’s quarterly revenue was up 1.9% on a year-over-year basis. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. On average, sell-side analysts forecast that Biogen Inc. will post 13.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BIIB shares. Piper Sandler reissued an “overweight” rating on shares of Biogen in a research report on Tuesday. Truist Financial upgraded Biogen from a “hold” rating to a “buy” rating and lifted their target price for the company from $190.00 to $235.00 in a research report on Monday, July 13th. Citigroup boosted their price target on Biogen from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Needham & Company LLC upped their price target on Biogen from $255.00 to $256.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Biogen in a research note on Monday, July 13th. One research 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $220.04.

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.