90,784 Shares in Biogen Inc. $BIIB Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new stake in shares of Biogen Inc. (NASDAQ:BIIB) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 90,784 shares of the biotechnology company’s stock, valued at approximately $19,615,000.

Several other institutional investors have also added to or reduced their stakes in the company. Reflection Asset Management bought a new stake in Biogen in the 4th quarter worth approximately $25,000. Bell Investment Advisors Inc bought a new position in shares of Biogen during the 2nd quarter valued at approximately $27,000. WFA of San Diego LLC purchased a new position in shares of Biogen in the second quarter valued at $32,000. Root Financial Partners LLC grew its holdings in shares of Biogen by 198.4% in the fourth quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 123 shares in the last quarter. Finally, MV Capital Management Inc. bought a new stake in Biogen in the fourth quarter worth $34,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Stock Up 0.2%

Shares of BIIB opened at $221.50 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.39. The business has a fifty day moving average of $207.37 and a 200 day moving average of $195.52. The company has a market cap of $32.73 billion, a PE ratio of 39.20, a P/E/G ratio of 6.89 and a beta of 0.17. Biogen Inc. has a 52-week low of $131.52 and a 52-week high of $222.85.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.94 by $0.66. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the previous year, the business posted $5.47 earnings per share. The business’s 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. On average, sell-side analysts expect that Biogen Inc. will post 12.39 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on BIIB. Wedbush upped their price target on shares of Biogen from $201.00 to $215.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Royal Bank Of Canada lifted their price objective on shares of Biogen from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Tuesday. Zacks Research upgraded shares of Biogen from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. Cantor Fitzgerald restated an “overweight” rating on shares of Biogen in a research report on Monday, June 22nd. Finally, TD Cowen increased their price target on shares of Biogen from $215.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Biogen has a consensus rating of “Moderate Buy” and an average target price of $227.79.

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.