Biogen Inc. $BIIB Shares Acquired by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp increased its holdings in Biogen Inc. (NASDAQ:BIIB) by 19.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 20,149 shares of the biotechnology company’s stock after purchasing an additional 3,341 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Biogen were worth $3,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Biogen by 0.9% during the 4th 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 increased its holdings in shares of Biogen by 3.2% during 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 bought a new stake in shares of Biogen during the fourth quarter valued at about $464,408,000. Invesco Ltd. raised its stake in shares of Biogen by 4.2% during the third 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 in the last quarter. Finally, Morgan Stanley lifted its holdings in Biogen by 3.3% in the fourth quarter. Morgan Stanley now owns 2,325,013 shares of the biotechnology company’s stock worth $409,180,000 after purchasing an additional 73,478 shares during the period. Institutional investors own 87.93% of the company’s stock.

Analysts Set New Price Targets

BIIB has been the subject of a number of recent analyst reports. Evercore assumed coverage on shares of Biogen in a research report on Friday, May 15th. They issued an “outperform” rating for the company. Wall Street Zen upgraded shares of Biogen from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Argus raised shares of Biogen to a “hold” rating in a research note on Thursday, April 9th. Sanford C. Bernstein decreased their price objective on shares of Biogen from $201.00 to $200.00 in a report on Thursday, April 30th. Finally, Guggenheim raised their price objective on shares of Biogen from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $220.57.

Biogen Stock Down 1.0%

NASDAQ BIIB opened at $200.14 on Tuesday. Biogen Inc. has a 12 month low of $124.56 and a 12 month high of $219.72. The company has a market capitalization of $29.55 billion, a P/E ratio of 21.47 and a beta of 0.16. The company’s 50 day simple moving average is $199.95 and its 200 day simple moving average is $190.08. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.06 and a quick ratio of 2.41.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.95 by $0.62. The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the firm posted $3.02 earnings per share. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Equities research analysts expect that Biogen Inc. will post 11.29 earnings per share for the current fiscal year.

About Biogen

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.