Daiichi Life Insurance Co. Ltd. Acquires Shares of 5,397 Biogen Inc. $BIIB

Daiichi Life Insurance Co. Ltd. bought a new stake in shares of Biogen Inc. (NASDAQ:BIIB) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,397 shares of the biotechnology company’s stock, valued at approximately $1,166,000.

A number of other hedge funds also recently made changes to their positions in the business. Bell Investment Advisors Inc bought a new position in Biogen during the second quarter valued at about $27,000. Reflection Asset Management bought a new stake in Biogen in the fourth quarter worth about $25,000. Root Financial Partners LLC raised its position in Biogen by 198.4% in the fourth quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 123 shares during the period. MV Capital Management Inc. purchased a new position in Biogen in the fourth quarter valued at about $34,000. Finally, Strive Financial Group LLC purchased a new position in Biogen in the fourth quarter valued at about $35,000. 87.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BIIB has been the subject of several research analyst reports. Canaccord Genuity Group raised their price target on shares of Biogen from $245.00 to $248.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. HC Wainwright upped their price objective on Biogen from $237.00 to $251.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Wall Street Zen lowered Biogen from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. HSBC reissued a “reduce” rating and issued a $157.00 target price on shares of Biogen in a research report on Monday, July 6th. Finally, Mizuho boosted their target price on Biogen from $221.00 to $241.00 and gave the company an “outperform” rating in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Biogen has a consensus rating of “Moderate Buy” and a consensus target price of $227.07.

Biogen Stock Up 0.6%

Biogen stock opened at $218.12 on Tuesday. Biogen Inc. has a 1-year low of $131.52 and a 1-year high of $222.15. The firm has a market capitalization of $32.23 billion, a price-to-earnings ratio of 38.61, a P/E/G ratio of 6.75 and a beta of 0.17. The company has a current ratio of 1.87, a quick ratio of 1.26 and a debt-to-equity ratio of 0.39. The firm has a 50 day simple moving average of $205.92 and a 200 day simple moving average of $194.87.

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, topping the consensus estimate of $2.94 by $0.66. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the prior year, the business posted $5.47 earnings per share. The business’s quarterly revenue was up 3.4% on a year-over-year basis. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, analysts predict that Biogen Inc. will post 12.39 earnings per share for the current year.

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.