Man Group plc Purchases New Position in Biogen Inc. $BIIB

Man Group plc bought a new stake in Biogen Inc. (NASDAQ:BIIB) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 196,222 shares of the biotechnology company’s stock, valued at approximately $42,396,000. Man Group plc owned 0.13% of Biogen as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Bell Investment Advisors Inc bought a new position in shares of Biogen during the second quarter valued at $27,000. Reflection Asset Management purchased a new stake in Biogen during the 4th quarter valued at about $25,000. Root Financial Partners LLC grew its position in Biogen by 198.4% during the 4th quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 123 shares during the last quarter. MV Capital Management Inc. bought a new stake in Biogen during the 4th quarter valued at about $34,000. Finally, Strive Financial Group LLC purchased a new position in Biogen in the fourth quarter worth about $35,000. 87.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on BIIB. Needham & Company LLC increased their price objective on Biogen from $255.00 to $256.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Morgan Stanley raised their price target on shares of Biogen from $222.00 to $231.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Rothschild & Co Redburn increased their price objective on shares of Biogen from $180.00 to $190.00 in a research report on Thursday, April 30th. Wolfe Research upgraded shares of Biogen from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a report on Thursday, August 13th. Finally, TD Cowen increased their price target on Biogen from $215.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Biogen currently has an average rating of “Moderate Buy” and an average target price of $227.79.

Biogen Price Performance

Shares of Biogen stock opened at $221.07 on Thursday. The stock’s 50-day simple moving average is $206.87 and its 200-day simple moving average is $195.38. Biogen Inc. has a 52 week low of $131.52 and a 52 week high of $222.85. The company has a market capitalization of $32.66 billion, a price-to-earnings ratio of 39.13, a PEG ratio of 6.88 and a beta of 0.17. The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.39.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.66. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the previous year, the firm earned $5.47 EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, analysts expect that Biogen Inc. will post 12.39 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.