Nippon Life Global Investors Americas Inc. Buys New Stake in Biogen Inc. $BIIB

Nippon Life Global Investors Americas Inc. purchased a new stake in Biogen Inc. (NASDAQ:BIIB) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 137,220 shares of the biotechnology company’s stock, valued at approximately $29,648,000. Biogen comprises approximately 1.2% of Nippon Life Global Investors Americas Inc.’s investment portfolio, making the stock its 27th biggest position. Nippon Life Global Investors Americas Inc. owned 0.09% of Biogen at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Biogen during the 4th quarter valued at about $464,408,000. Boston Partners purchased a new stake in shares of Biogen in the fourth quarter worth about $302,815,000. Fred Alger Management LLC boosted its stake in shares of Biogen by 39,074.8% in the fourth quarter. Fred Alger Management LLC now owns 798,774 shares of the biotechnology company’s stock worth $140,576,000 after buying an additional 796,735 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Biogen during the second quarter worth about $167,148,000. Finally, Employees Provident Fund Board acquired a new stake in Biogen during the fourth quarter worth about $123,931,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Performance

Shares of BIIB stock opened at $209.83 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.87 and a quick ratio of 1.26. The company has a market cap of $31.00 billion, a price-to-earnings ratio of 37.14, a PEG ratio of 6.48 and a beta of 0.17. The stock has a 50 day simple moving average of $203.76 and a 200-day simple moving average of $193.24. Biogen Inc. has a 1-year low of $131.52 and a 1-year high of $219.72.

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, beating analysts’ consensus estimates of $2.94 by $0.66. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter last year, the firm posted $5.47 EPS. The business’s revenue was up 3.4% on a year-over-year basis. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, equities research analysts expect that Biogen Inc. will post 12.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Piper Sandler restated an “overweight” rating on shares of Biogen in a research report on Tuesday, July 14th. Wedbush increased their price target on shares of Biogen from $201.00 to $215.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Wolfe Research upgraded shares of Biogen from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research report on Thursday. Zacks Research raised shares of Biogen from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. Finally, Weiss Ratings downgraded shares of Biogen from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday. 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $227.07.

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.