OVERSEA CHINESE BANKING Corp Ltd Invests $4.08 Million in Biogen Inc. $BIIB

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in Biogen Inc. (NASDAQ:BIIB) during the 2nd quarter, HoldingsChannel reports. The fund purchased 18,867 shares of the biotechnology company’s stock, valued at approximately $4,076,000.

Several other institutional investors and hedge funds also recently bought and sold shares of BIIB. Rothschild Investment LLC grew its stake in Biogen by 12.3% in the 4th quarter. Rothschild Investment LLC now owns 513 shares of the biotechnology company’s stock valued at $90,000 after buying an additional 56 shares in the last quarter. Meeder Advisory Services Inc. lifted its position in shares of Biogen by 1.2% during the first quarter. Meeder Advisory Services Inc. now owns 4,721 shares of the biotechnology company’s stock worth $866,000 after acquiring an additional 57 shares in the last quarter. Kera Capital Partners Inc. boosted its holdings in shares of Biogen by 3.5% in the first quarter. Kera Capital Partners Inc. now owns 1,723 shares of the biotechnology company’s stock worth $316,000 after acquiring an additional 58 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Biogen by 1.5% in the first quarter. Parallel Advisors LLC now owns 4,367 shares of the biotechnology company’s stock worth $801,000 after acquiring an additional 65 shares during the period. Finally, Itau Unibanco Holding S.A. grew its position in shares of Biogen by 24.4% in the fourth quarter. Itau Unibanco Holding S.A. now owns 337 shares of the biotechnology company’s stock valued at $59,000 after purchasing an additional 66 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BIIB. Canaccord Genuity Group boosted their price objective on Biogen from $245.00 to $248.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Truist Financial upgraded Biogen from a “hold” rating to a “buy” rating and raised their target price for the stock from $190.00 to $235.00 in a research note on Monday, July 13th. Needham & Company LLC lifted their target price on Biogen from $255.00 to $256.00 and gave the company a “buy” rating in a report on Monday, June 29th. HC Wainwright upped their price target on Biogen from $237.00 to $251.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, Wolfe Research raised shares of Biogen from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a report on Thursday, August 13th. One equities research 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $227.07.

Biogen Stock Performance

Biogen stock opened at $214.35 on Friday. Biogen Inc. has a fifty-two week low of $131.52 and a fifty-two week high of $222.15. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 1.87. The stock has a market cap of $31.67 billion, a P/E ratio of 37.94, a price-to-earnings-growth ratio of 6.90 and a beta of 0.17. The firm’s fifty day moving average price is $205.20 and its 200-day moving average price is $194.32.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.66. The company had revenue of $2.74 billion during 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%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, equities research analysts expect that Biogen Inc. will post 12.39 earnings per share for the current fiscal year.

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.