Munich Reinsurance Co Stock Corp in Munich Takes Position in Biogen Inc. $BIIB

Munich Reinsurance Co Stock Corp in Munich bought a new position in shares of Biogen Inc. (NASDAQ:BIIB) in the first quarter, Holdings Channel.com reports. The fund bought 23,942 shares of the biotechnology company’s stock, valued at approximately $4,389,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Rothschild Investment LLC grew its holdings in Biogen by 12.3% during the 4th quarter. Rothschild Investment LLC now owns 513 shares of the biotechnology company’s stock worth $90,000 after acquiring an additional 56 shares during the period. Itau Unibanco Holding S.A. boosted its position in shares of Biogen by 24.4% during the 4th quarter. Itau Unibanco Holding S.A. now owns 337 shares of the biotechnology company’s stock valued at $59,000 after purchasing an additional 66 shares in the last quarter. Advisory Services Network LLC grew its stake in Biogen by 3.9% during the third quarter. Advisory Services Network LLC now owns 1,792 shares of the biotechnology company’s stock worth $251,000 after purchasing an additional 68 shares during the period. Davis Investment Partners LLC increased its holdings in Biogen by 1.7% in the fourth quarter. Davis Investment Partners LLC now owns 4,374 shares of the biotechnology company’s stock worth $778,000 after purchasing an additional 71 shares in the last quarter. Finally, Optas LLC lifted its stake in Biogen by 4.5% in the fourth quarter. Optas LLC now owns 1,706 shares of the biotechnology company’s stock valued at $300,000 after buying an additional 73 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Evercore started coverage on shares of Biogen in a research report on Friday, May 15th. They set an “outperform” rating for the company. Truist Financial reduced 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. Oppenheimer upped their price objective on shares of Biogen from $275.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Needham & Company LLC raised their target price on Biogen from $255.00 to $256.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Finally, Wedbush upped their price target on Biogen from $191.00 to $196.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.15.

Biogen Stock Down 2.6%

Biogen stock opened at $200.36 on Thursday. The firm has a market capitalization of $29.58 billion, a price-to-earnings ratio of 21.50 and a beta of 0.16. The firm’s fifty day moving average price is $197.84 and its two-hundred day moving average price is $187.82. Biogen Inc. has a 1-year low of $121.05 and a 1-year high of $219.72. The company has a current ratio of 3.06, a quick ratio of 2.41 and a debt-to-equity ratio of 0.34.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, topping the consensus estimate of $2.95 by $0.62. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The company had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the previous year, the firm posted $3.02 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. On average, equities research analysts predict that Biogen Inc. will post 13.95 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.