OP Asset Management Ltd Acquires Shares of 15,263 Biogen Inc. $BIIB

OP Asset Management Ltd bought a new stake in Biogen Inc. (NASDAQ:BIIB) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 15,263 shares of the biotechnology company’s stock, valued at approximately $2,798,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Reflection Asset Management acquired a new stake in Biogen during the 4th quarter worth approximately $25,000. WPG Advisers LLC raised its stake in shares of Biogen by 417.9% during the fourth quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 117 shares during the last quarter. Accredited Wealth Management LLC lifted its holdings in shares of Biogen by 1,233.3% during the third quarter. Accredited Wealth Management LLC now owns 200 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 185 shares during the period. First Horizon Corp purchased a new position in Biogen in the 4th quarter valued at $30,000. Finally, WFA of San Diego LLC purchased a new position in Biogen in the 2nd quarter valued at $32,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on BIIB. The Goldman Sachs Group upped their price objective on shares of Biogen from $231.00 to $238.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. HC Wainwright reaffirmed a “buy” rating on shares of Biogen in a report on Thursday, May 14th. Freedom Capital upgraded shares of Biogen from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 1st. Truist Financial cut their price target on shares of Biogen from $193.00 to $189.00 and set a “hold” rating for the company in a report on Monday, April 13th. Finally, Needham & Company LLC restated a “buy” rating on shares of Biogen in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $217.37.

Biogen Stock Up 7.0%

BIIB opened at $216.03 on Friday. 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 company has a market cap of $31.89 billion, a price-to-earnings ratio of 23.18 and a beta of 0.20. Biogen Inc. has a one year low of $121.05 and a one year high of $218.06. The business’s fifty day moving average is $193.37 and its two-hundred day moving average is $185.67.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the previous year, the company posted $3.02 EPS. The business’s revenue was up 1.9% on a year-over-year basis. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Analysts anticipate that Biogen Inc. will post 13.95 EPS 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.