Biogen Inc. $BIIB Stock Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Biogen Inc. (NASDAQ:BIIB) by 1,552.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 345,619 shares of the biotechnology company’s stock after buying an additional 324,703 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Biogen were worth $78,068,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in BIIB. BlackRock Inc. acquired a new position in shares of Biogen in the 2nd quarter valued at approximately $3,453,878,000. Orbimed Advisors LLC bought a new stake in Biogen during the 1st quarter worth approximately $11,293,000. Nippon Life Global Investors Americas Inc. bought a new stake in Biogen during the 2nd quarter worth approximately $29,648,000. Tidal Investments LLC raised its holdings in Biogen by 9.0% during the 2nd quarter. Tidal Investments LLC now owns 63,842 shares of the biotechnology company’s stock worth $13,794,000 after buying an additional 5,256 shares during the period. Finally, Handelsbanken Fonder AB raised its holdings in Biogen by 12.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 93,236 shares of the biotechnology company’s stock worth $20,145,000 after buying an additional 10,510 shares during the period. Institutional investors own 87.93% of the company’s stock.

Biogen Stock Up 0.4%

NASDAQ:BIIB opened at $233.48 on Tuesday. The stock has a 50-day simple moving average of $220.49 and a 200 day simple moving average of $204.32. Biogen Inc. has a 52-week low of $138.00 and a 52-week high of $240.99. The company has a market cap of $34.50 billion, a PE ratio of 41.32, a PEG ratio of 2.58 and a beta of 0.09. 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 (NASDAQ:BIIB) last released its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, beating the consensus estimate of $2.94 by $0.66. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.46 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, sell-side analysts expect that Biogen Inc. will post 12.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BIIB has been the topic of a number of research reports. Stifel Nicolaus set a $242.00 price target on shares of Biogen in a research note on Thursday, September 10th. Oppenheimer reissued an “outperform” rating and set a $300.00 price objective on shares of Biogen in a research report on Wednesday, July 29th. Royal Bank Of Canada dropped their price objective on shares of Biogen from $260.00 to $256.00 and set an “outperform” rating on the stock in a report on Thursday, October 8th. Needham & Company LLC raised their price objective on shares of Biogen from $255.00 to $256.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Finally, Wolfe Research raised shares of Biogen from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Biogen presently has an average rating of “Moderate Buy” and a consensus target price of $236.04.

Biogen Company Profile

Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for neurological and neurodegenerative diseases. Its areas of focus include multiple sclerosis, Alzheimer’s disease, spinal muscular atrophy, amyotrophic lateral sclerosis and other serious medical conditions.

The company’s portfolio includes multiple sclerosis treatments such as Tecfidera, Vumerity, Tysabri, Plegridy and Avonex, as well as Spinraza for spinal muscular atrophy. Biogen also markets Leqembi, an Alzheimer’s disease treatment developed in collaboration with Eisai, and works with partners to advance additional therapies and biosimilars.

Biogen was founded in 1978 and is headquartered in Cambridge, Massachusetts.