137,220 Shares in Biogen Inc. $BIIB Purchased by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. purchased a new stake in Biogen Inc. (NASDAQ:BIIB) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 137,220 shares of the biotechnology company’s stock, valued at approximately $29,648,000. Biogen makes up approximately 1.2% of Nippon Life Global Investors Americas Inc.’s holdings, making the stock its 27th biggest holding.

Other institutional investors also recently bought and sold shares of the company. Reflection Asset Management acquired a new position in shares of Biogen during the fourth quarter valued at approximately $25,000. WPG Advisers LLC lifted its position in shares of Biogen by 417.9% in the fourth quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 117 shares in the last quarter. First Horizon Corp acquired a new stake in shares of Biogen in the fourth quarter worth approximately $30,000. WFA of San Diego LLC acquired a new stake in shares of Biogen in the second quarter worth approximately $32,000. Finally, Root Financial Partners LLC increased its position in shares of Biogen by 198.4% during the fourth quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 123 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Price Performance

NASDAQ:BIIB opened at $209.83 on Monday. Biogen Inc. has a one year low of $131.52 and a one year high of $219.72. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 1.87. The stock has a market cap of $31.00 billion, a PE ratio of 37.14, a P/E/G ratio of 6.48 and a beta of 0.17. The stock has a 50 day moving average price of $203.76 and a 200 day moving average price of $193.24.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.66. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.46 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The firm’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Equities research analysts expect that Biogen Inc. will post 12.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Morgan Stanley increased their price objective on Biogen from $222.00 to $231.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biogen in a research note on Monday, June 22nd. Royal Bank Of Canada dropped their target price on shares of Biogen from $242.00 to $240.00 and set an “outperform” rating for the company in a report on Thursday, July 30th. Weiss Ratings cut shares of Biogen from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday. Finally, Truist Financial upgraded shares of Biogen from a “hold” rating to a “buy” rating and increased their target price for the company from $190.00 to $235.00 in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $227.07.

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.