Rakuten Investment Management Inc. Buys Shares of 24,097 Biogen Inc. $BIIB

Rakuten Investment Management Inc. purchased a new stake in Biogen Inc. (NASDAQ:BIIB) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 24,097 shares of the biotechnology company’s stock, valued at approximately $5,220,000.

Several other hedge funds have also recently modified their holdings of the business. BlackRock Inc. purchased a new position in Biogen during the second quarter valued at approximately $3,453,878,000. Primecap Management Co. CA purchased a new stake in Biogen during the second quarter worth $3,274,304,000. Geode Capital Management LLC lifted its holdings in Biogen by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 4,199,399 shares of the biotechnology company’s stock worth $736,435,000 after buying an additional 130,618 shares during the period. Norges Bank bought a new stake in Biogen during the 4th quarter valued at $464,408,000. Finally, Invesco Ltd. boosted its position in Biogen by 4.2% during the 3rd quarter. Invesco Ltd. now owns 2,418,127 shares of the biotechnology company’s stock valued at $338,731,000 after acquiring an additional 98,001 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Stock Performance

BIIB opened at $218.50 on Friday. Biogen Inc. has a 12-month low of $131.52 and a 12-month high of $222.85. The company has a current ratio of 1.87, a quick ratio of 1.26 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $32.28 billion, a PE ratio of 38.67, a P/E/G ratio of 6.81 and a beta of 0.17. The firm has a 50 day moving average of $207.81 and a two-hundred day moving average of $195.68.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, beating the consensus estimate of $2.94 by $0.66. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, analysts anticipate that Biogen Inc. will post 12.39 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BIIB shares. Truist Financial raised Biogen from a “hold” rating to a “buy” rating and boosted their price target for the stock from $190.00 to $235.00 in a research report on Monday, July 13th. Wedbush raised their price objective on Biogen from $201.00 to $215.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Evercore started coverage on Biogen in a research note on Friday, May 15th. They issued an “outperform” rating on the stock. Wall Street Zen downgraded shares of Biogen from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Mizuho increased their price target on shares of Biogen from $221.00 to $241.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $227.79.

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.