Saudi Central Bank Increases Stock Holdings in Biogen Inc. $BIIB

Saudi Central Bank raised its position in Biogen Inc. (NASDAQ:BIIB) by 89.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,273 shares of the biotechnology company’s stock after acquiring an additional 4,858 shares during the quarter. Saudi Central Bank’s holdings in Biogen were worth $2,220,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Rothschild Investment LLC grew its position in Biogen by 12.3% during the fourth quarter. Rothschild Investment LLC now owns 513 shares of the biotechnology company’s stock valued at $90,000 after purchasing an additional 56 shares in the last quarter. Wedbush Securities Inc. lifted its position in Biogen by 5.1% in the 2nd quarter. Wedbush Securities Inc. now owns 1,164 shares of the biotechnology company’s stock worth $251,000 after buying an additional 56 shares in the last quarter. Meeder Advisory Services Inc. lifted its position in Biogen by 1.2% in the 1st quarter. Meeder Advisory Services Inc. now owns 4,721 shares of the biotechnology company’s stock worth $866,000 after buying an additional 57 shares in the last quarter. Kera Capital Partners Inc. boosted its stake in shares of Biogen by 3.5% during the 1st quarter. Kera Capital Partners Inc. now owns 1,723 shares of the biotechnology company’s stock valued at $316,000 after buying an additional 58 shares during the period. Finally, Parallel Advisors LLC grew its holdings in shares of Biogen by 1.5% during the 1st quarter. Parallel Advisors LLC now owns 4,367 shares of the biotechnology company’s stock valued at $801,000 after acquiring an additional 65 shares in the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Stock Performance

Biogen stock opened at $220.83 on Tuesday. 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 business’s 50-day simple moving average is $209.62 and its 200-day simple moving average is $196.80. The firm has a market capitalization of $32.63 billion, a PE ratio of 39.08, a PEG ratio of 2.44 and a beta of 0.17. Biogen Inc. has a 52 week low of $135.39 and a 52 week high of $225.80.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the prior year, the company earned $5.47 EPS. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Equities research analysts forecast that Biogen Inc. will post 12.39 earnings per share for the current year.

Wall Street Analyst Weigh In

BIIB has been the topic of a number of research reports. TD Cowen upped their price target on shares of Biogen from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings downgraded Biogen from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. Morgan Stanley upped their target price on Biogen from $222.00 to $231.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Truist Financial upgraded Biogen from a “hold” rating to a “buy” rating and lifted their price target for the company from $190.00 to $235.00 in a report on Monday, July 13th. Finally, Wedbush boosted their price target on Biogen from $201.00 to $215.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $228.50.

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.