Saudi Central Bank Has $2.22 Million Stock Holdings in Biogen Inc. $BIIB

Saudi Central Bank boosted its position in shares of Biogen Inc. (NASDAQ:BIIB) by 89.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,273 shares of the biotechnology company’s stock after acquiring an additional 4,858 shares during the period. Saudi Central Bank’s holdings in Biogen were worth $2,220,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Biogen during the second quarter valued at approximately $3,453,878,000. Primecap Management Co. CA acquired a new position in shares of Biogen in the second quarter valued at $3,274,304,000. Norges Bank bought a new position in Biogen in the fourth quarter worth $464,408,000. Boston Partners bought a new position in Biogen in the fourth quarter worth $302,815,000. Finally, Legal & General Group Plc acquired a new stake in Biogen during the second quarter worth $322,640,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Performance

BIIB stock opened at $220.83 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.39. Biogen Inc. has a twelve month low of $135.39 and a twelve month high of $225.80. The company has a market cap of $32.63 billion, a P/E ratio of 39.08, a PEG ratio of 2.44 and a beta of 0.17. The business has a fifty day moving average of $209.62 and a 200-day moving average of $196.80.

Biogen (NASDAQ:BIIB) last posted its quarterly 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. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter last year, the business earned $5.47 earnings per share. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, equities research analysts expect that Biogen Inc. will post 12.39 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BIIB shares. Barclays increased their price objective on shares of Biogen from $185.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 29th. Wolfe Research upgraded shares of Biogen from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a research report on Thursday, August 13th. HSBC reissued a “reduce” rating and issued a $157.00 target price on shares of Biogen in a research note on Monday, July 6th. Cantor Fitzgerald reissued an “overweight” rating on shares of Biogen in a research report on Monday, June 22nd. Finally, Bank of America cut their price target on shares of Biogen from $217.00 to $215.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $228.50.

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.