K.J. Harrison & Partners Inc Acquires New Shares in Biogen Inc. $BIIB

K.J. Harrison & Partners Inc bought a new stake in Biogen Inc. (NASDAQ:BIIB) during the second quarter, Holdings Channel reports. The institutional investor bought 10,000 shares of the biotechnology company’s stock, valued at approximately $2,161,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Biogen in the 2nd quarter valued at approximately $3,453,878,000. Pallas Capital Advisors LLC bought a new position in Biogen during the second quarter valued at approximately $2,778,000. Deutsche Bank AG bought a new position in Biogen during the second quarter valued at approximately $193,165,000. Perigon Wealth Management LLC acquired a new stake in Biogen in the second quarter valued at approximately $380,000. Finally, Trust Co. of Vermont bought a new stake in Biogen in the second quarter worth approximately $84,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on BIIB. TD Cowen increased their price target on shares of Biogen from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. HSBC reaffirmed a “reduce” rating and issued a $157.00 price objective on shares of Biogen in a research note on Monday, July 6th. Evercore initiated coverage on shares of Biogen in a research report on Friday, May 15th. They set an “outperform” rating on the stock. Sanford C. Bernstein cut their target price on Biogen from $201.00 to $200.00 in a report on Thursday, April 30th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Biogen in a research report on Wednesday, July 29th. One investment 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 given a Sell rating to the stock. Based on data from MarketBeat.com, Biogen has a consensus rating of “Moderate Buy” and an average target price of $227.07.

Biogen Price Performance

Shares of Biogen stock opened at $209.15 on Tuesday. 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 fifty day simple moving average of $204.09 and a 200-day simple moving average of $193.49. The stock has a market capitalization of $30.90 billion, a price-to-earnings ratio of 37.02, a PEG ratio of 6.48 and a beta of 0.17. Biogen Inc. has a 1-year low of $131.52 and a 1-year high of $219.72.

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 analysts’ consensus estimates of $2.94 by $0.66. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. Biogen’s revenue was up 3.4% compared to the same quarter last year. During the same period last 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 12.5 earnings per share for the current year.

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.