Legal & General Group Plc Buys 146,583 Shares of Biogen Inc. $BIIB

Legal & General Group Plc boosted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 10.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,593,399 shares of the biotechnology company’s stock after buying an additional 146,583 shares during the period. Legal & General Group Plc owned approximately 1.09% of Biogen worth $223,203,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Convergence Investment Partners LLC bought a new position in shares of Biogen during the third quarter valued at $1,342,000. Caprock Group LLC bought a new position in Biogen in the 3rd quarter worth about $742,000. Pitcairn Co. bought a new position in Biogen in the 2nd quarter worth about $936,000. Fluent Financial LLC purchased a new stake in Biogen during the 3rd quarter valued at about $3,578,000. Finally, Leuthold Group LLC purchased a new stake in Biogen during the 3rd quarter valued at about $3,294,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. HC Wainwright lifted their target price on shares of Biogen from $194.00 to $228.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Stifel Nicolaus increased their price target on shares of Biogen from $202.00 to $214.00 and gave the company a “buy” rating in a report on Friday, February 6th. Guggenheim raised their price target on shares of Biogen from $185.00 to $246.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Sanford C. Bernstein restated a “market perform” rating on shares of Biogen in a report on Monday, February 9th. Finally, Truist Financial upped their price objective on Biogen from $190.00 to $193.00 and gave the company a “hold” rating in a research report on Monday, February 9th. Twelve equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $205.04.

Insider Activity

In related news, insider Priya Singhal sold 2,660 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $199.83, for a total value of $531,547.80. Following the transaction, the insider owned 8,043 shares of the company’s stock, valued at approximately $1,607,232.69. This trade represents a 24.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

Biogen Stock Down 2.9%

Biogen stock opened at $184.90 on Friday. Biogen Inc. has a one year low of $110.04 and a one year high of $202.41. The stock has a fifty day moving average of $184.02 and a 200 day moving average of $166.45. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.03 and a current ratio of 2.68. The stock has a market cap of $27.14 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 1.51 and a beta of 0.15.

Biogen (NASDAQ:BIIB) last announced its earnings results on Friday, February 6th. The biotechnology company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.38. Biogen had a return on equity of 12.64% and a net margin of 13.07%.The business had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same period last year, the firm posted $3.44 earnings per share. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. Biogen has set its FY 2026 guidance at 15.250-16.250 EPS. As a group, sell-side analysts predict that Biogen Inc. will post 15.83 EPS for the current year.

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.