66,365 Shares in Biogen Inc. $BIIB Purchased by Danske Bank A S

Danske Bank A S purchased a new position in Biogen Inc. (NASDAQ:BIIB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 66,365 shares of the biotechnology company’s stock, valued at approximately $14,339,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BIIB. BlackRock Inc. acquired a new position in shares of Biogen during the 2nd quarter valued at about $3,453,878,000. Norges Bank acquired a new stake in shares of Biogen in the fourth quarter worth approximately $464,408,000. Boston Partners purchased a new stake in Biogen in the fourth quarter valued at approximately $302,815,000. Deutsche Bank AG purchased a new stake in Biogen in the second quarter valued at approximately $193,165,000. Finally, Fred Alger Management LLC increased 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 worth $140,576,000 after purchasing an additional 796,735 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on BIIB shares. Wolfe Research raised shares of Biogen from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a research note on Thursday, August 13th. Evercore assumed coverage on Biogen in a research report on Friday, May 15th. They issued an “outperform” rating on the stock. Citigroup lifted their target price on Biogen from $200.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. HC Wainwright upped their price target on Biogen from $237.00 to $251.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Rothschild & Co Redburn raised their price objective on Biogen from $180.00 to $190.00 in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $227.07.

Biogen Stock Performance

Shares of BIIB stock opened at $214.35 on Friday. The company’s fifty day simple moving average is $205.20 and its 200-day simple moving average is $194.32. Biogen Inc. has a 52 week low of $131.52 and a 52 week high of $222.15. 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 company has a market cap of $31.67 billion, a PE ratio of 37.94, a P/E/G ratio of 6.90 and a beta of 0.17.

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

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.