OVERSEA CHINESE BANKING Corp Ltd Buys New Stake in Biogen Inc. $BIIB

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Biogen Inc. (NASDAQ:BIIB) during the second quarter, HoldingsChannel reports. The institutional investor bought 13,000 shares of the biotechnology company’s stock, valued at approximately $2,809,000.

A number of other large investors also recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its position in shares of Biogen by 64.9% during the first quarter. Empowered Funds LLC now owns 7,054 shares of the biotechnology company’s stock worth $965,000 after buying an additional 2,777 shares during the period. Focus Partners Wealth grew its stake in shares of Biogen by 172.2% in the first quarter. Focus Partners Wealth now owns 10,173 shares of the biotechnology company’s stock valued at $1,392,000 after buying an additional 6,436 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Biogen in the 2nd quarter valued at $216,000. Cerity Partners LLC raised its holdings in shares of Biogen by 15.3% in the 2nd quarter. Cerity Partners LLC now owns 46,552 shares of the biotechnology company’s stock valued at $5,847,000 after buying an additional 6,184 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in Biogen by 13.4% during the 2nd quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company’s stock worth $336,000 after acquiring an additional 316 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BIIB shares. Guggenheim raised their target price on Biogen from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Evercore started coverage on shares of Biogen in a research note on Friday, May 15th. They set an “outperform” rating on the stock. Wedbush increased their price target on shares of Biogen from $201.00 to $215.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. The Goldman Sachs Group raised their price objective on shares of Biogen from $231.00 to $238.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Finally, Barclays lifted their price objective on shares of Biogen from $185.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, July 29th. One equities research 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $227.07.

Biogen Stock Performance

Shares of Biogen stock opened at $214.35 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 1.87. Biogen Inc. has a one year low of $131.52 and a one year high of $222.15. The company has a market cap of $31.67 billion, a PE ratio of 37.94, a P/E/G ratio of 6.90 and a beta of 0.17. The business has a 50-day simple moving average of $205.20 and a 200-day simple moving average of $194.32.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, beating analysts’ consensus estimates of $2.94 by $0.66. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, equities research analysts forecast that Biogen Inc. will post 12.39 EPS for the current fiscal 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.