KBC Group NV Buys 181,294 Shares of Biogen Inc. $BIIB

KBC Group NV increased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 339.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 234,692 shares of the biotechnology company’s stock after purchasing an additional 181,294 shares during the quarter. KBC Group NV’s holdings in Biogen were worth $43,026,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. SEB Asset Management AB purchased a new stake in shares of Biogen during the first quarter valued at about $7,676,000. Swiss National Bank boosted its holdings in shares of Biogen by 7.2% in the 1st quarter. Swiss National Bank now owns 430,600 shares of the biotechnology company’s stock valued at $78,942,000 after buying an additional 28,800 shares in the last quarter. AIA Group Ltd grew its position in shares of Biogen by 310.1% in the 1st quarter. AIA Group Ltd now owns 9,329 shares of the biotechnology company’s stock worth $1,710,000 after buying an additional 7,054 shares during the last quarter. Mediolanum International Funds Ltd purchased a new position in shares of Biogen in the 1st quarter worth approximately $1,136,000. Finally, California Public Employees Retirement System raised its stake in shares of Biogen by 3.1% during the 1st quarter. California Public Employees Retirement System now owns 340,903 shares of the biotechnology company’s stock worth $62,498,000 after acquiring an additional 10,097 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

BIIB has been the subject of several recent analyst reports. HSBC restated a “reduce” rating and issued a $157.00 target price on shares of Biogen in a research note on Monday, July 6th. Rothschild & Co Redburn upped their price target on Biogen from $180.00 to $190.00 in a research report on Thursday, April 30th. Sanford C. Bernstein decreased their price objective on Biogen from $201.00 to $200.00 in a report on Thursday, April 30th. Weiss Ratings raised Biogen from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Finally, Mizuho dropped their target price on Biogen from $236.00 to $221.00 and set an “outperform” rating on the stock in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and a consensus target price of $220.04.

Biogen Stock Down 2.9%

NASDAQ:BIIB opened at $199.95 on Tuesday. The company has a market cap of $29.52 billion, a PE ratio of 21.45 and a beta of 0.16. Biogen Inc. has a twelve month low of $121.05 and a twelve month high of $219.72. The company has a current ratio of 3.06, a quick ratio of 2.41 and a debt-to-equity ratio of 0.34. The company’s 50 day moving average is $199.47 and its two-hundred day moving average is $189.25.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.95 by $0.62. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.29 billion. Biogen had a net margin of 13.81% and a return on equity of 12.83%. Biogen’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Analysts anticipate that Biogen Inc. will post 13.45 EPS 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.