E Fund Management Co. Ltd. Purchases New Holdings in Biogen Inc. $BIIB

E Fund Management Co. Ltd. acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,174 shares of the biotechnology company’s stock, valued at approximately $902,000.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Biogen by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 17,447,092 shares of the biotechnology company’s stock worth $3,070,514,000 after purchasing an additional 157,857 shares during the period. BlackRock Inc. bought a new stake in shares of Biogen during the 2nd quarter worth about $3,453,878,000. Geode Capital Management LLC grew its stake in Biogen by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 4,199,399 shares of the biotechnology company’s stock valued at $736,435,000 after buying an additional 130,618 shares during the last quarter. Norges Bank bought a new position in Biogen in the 4th quarter valued at about $464,408,000. Finally, Invesco Ltd. lifted its position in Biogen by 4.2% during the third quarter. Invesco Ltd. now owns 2,418,127 shares of the biotechnology company’s stock worth $338,731,000 after acquiring an additional 98,001 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $221.56 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 1.87. Biogen Inc. has a 52 week low of $131.52 and a 52 week high of $222.15. The firm has a market cap of $32.74 billion, a PE ratio of 39.21, a price-to-earnings-growth ratio of 6.62 and a beta of 0.17. The firm’s fifty day moving average is $204.91 and its 200-day moving average is $194.08.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.94 by $0.66. The business had revenue of $2.74 billion during 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%.Biogen’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Sell-side analysts predict that Biogen Inc. will post 12.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BIIB has been the topic of a number of research reports. Zacks Research raised Biogen from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. Evercore assumed coverage on shares of Biogen in a research note on Friday, May 15th. They issued an “outperform” rating on the stock. Morgan Stanley raised their price target on shares of Biogen from $222.00 to $231.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Wolfe Research upgraded 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. Finally, Freedom Capital raised shares of Biogen from a “hold” rating to a “strong-buy” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $227.07.

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.