Legal & General Group Plc Boosts Stake in Biogen Inc. $BIIB

Legal & General Group Plc increased its stake in Biogen Inc. (NASDAQ:BIIB) by 10.1% during the third quarter, Holdings Channel.com reports. The firm owned 1,593,399 shares of the biotechnology company’s stock after purchasing an additional 146,583 shares during the quarter. Legal & General Group Plc’s holdings in Biogen were worth $223,203,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in Biogen during the second quarter valued at about $284,358,000. Orion Porfolio Solutions LLC raised its stake in shares of Biogen by 6,828.4% in the second quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company’s stock worth $64,965,000 after buying an additional 509,809 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Biogen by 190.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 624,371 shares of the biotechnology company’s stock worth $78,415,000 after buying an additional 409,591 shares during the period. Vanguard Group Inc. lifted its position in shares of Biogen by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 17,290,651 shares of the biotechnology company’s stock valued at $2,171,533,000 after buying an additional 257,812 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of Biogen by 49.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 671,054 shares of the biotechnology company’s stock valued at $94,001,000 after buying an additional 222,297 shares in the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BIIB has been the subject of several analyst reports. Mizuho increased their target price on shares of Biogen from $207.00 to $236.00 and gave the stock an “outperform” rating in a report on Tuesday, February 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Biogen in a report on Monday, December 29th. Stifel Nicolaus upped their price target on shares of Biogen from $202.00 to $214.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Tudor Pickering set a $201.00 price objective on shares of Biogen in a research note on Monday, February 9th. Finally, Wedbush raised their price objective on shares of Biogen from $178.00 to $187.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Twelve investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $205.04.

Biogen Stock Down 2.9%

NASDAQ BIIB opened at $184.90 on Friday. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $202.41. The company has a current ratio of 2.68, a quick ratio of 2.03 and a debt-to-equity ratio of 0.34. The stock has a market cap of $27.14 billion, a PE ratio of 20.99, a P/E/G ratio of 1.51 and a beta of 0.15. The stock’s 50 day moving average is $184.02 and its 200 day moving average is $166.45.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Friday, February 6th. The biotechnology company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.38. The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.21 billion. Biogen had a net margin of 13.07% and a return on equity of 12.64%. The company’s revenue was down 7.2% on a year-over-year basis. During the same period last year, the firm posted $3.44 EPS. Biogen has set its FY 2026 guidance at 15.250-16.250 EPS. Research analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Priya Singhal sold 2,660 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $199.83, for a total transaction of $531,547.80. Following the completion of the transaction, the insider directly owned 8,043 shares of the company’s stock, valued at approximately $1,607,232.69. This trade represents a 24.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.18% of the company’s stock.

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.