Nissay Asset Management Corp Japan Raises Stake in Biogen Inc. $BIIB

Nissay Asset Management Corp Japan increased its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 522.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,301 shares of the biotechnology company’s stock after acquiring an additional 155,539 shares during the period. Nissay Asset Management Corp Japan’s holdings in Biogen were worth $40,036,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wellington Management Group LLP lifted its holdings in shares of Biogen by 5.3% during the second quarter. Wellington Management Group LLP now owns 3,117,469 shares of the biotechnology company’s stock valued at $673,560,000 after purchasing an additional 155,828 shares during the last quarter. Kingsview Wealth Management LLC bought a new stake in shares of Biogen in the 2nd quarter worth approximately $253,000. Beacon Pointe Advisors LLC purchased a new stake in shares of Biogen in the 2nd quarter worth approximately $981,000. Pin Oak Investment Advisors Inc. bought a new position in Biogen during the 2nd quarter valued at approximately $177,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in Biogen during the 2nd quarter valued at approximately $287,000. Institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

NASDAQ BIIB opened at $218.50 on Friday. Biogen Inc. has a one year low of $131.52 and a one year high of $222.85. The stock has a 50-day moving average of $207.81 and a 200 day moving average of $195.68. 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 company has a market capitalization of $32.28 billion, a price-to-earnings ratio of 38.67, a PEG ratio of 6.90 and a beta of 0.17.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.66. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, sell-side analysts forecast that Biogen Inc. will post 12.39 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Truist Financial upgraded Biogen from a “hold” rating to a “buy” rating and lifted their price objective for the company from $190.00 to $235.00 in a research note on Monday, July 13th. Canaccord Genuity Group increased their target price on Biogen from $245.00 to $248.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Zacks Research upgraded Biogen from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. Needham & Company LLC lifted their price target on Biogen from $255.00 to $256.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Finally, Wall Street Zen cut shares of Biogen from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. One 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $227.79.

Biogen 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.