Legal & General Group Plc Has $256.87 Million Stock Position in Biogen Inc. $BIIB

Legal & General Group Plc decreased its position in Biogen Inc. (NASDAQ:BIIB) by 8.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,459,597 shares of the biotechnology company’s stock after selling 133,802 shares during the period. Legal & General Group Plc owned about 0.99% of Biogen worth $256,874,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in BIIB. Orion Porfolio Solutions LLC raised its holdings in Biogen by 6,828.4% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company’s stock valued at $64,965,000 after acquiring an additional 509,809 shares in the last quarter. Caisse de depot et placement du Quebec lifted its position in shares of Biogen by 718.2% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 569,253 shares of the biotechnology company’s stock worth $79,741,000 after buying an additional 499,676 shares during the period. AQR Capital Management LLC lifted its position in shares of Biogen by 30.7% during the 3rd quarter. AQR Capital Management LLC now owns 1,783,581 shares of the biotechnology company’s stock worth $248,809,000 after buying an additional 418,776 shares during the period. Alyeska Investment Group L.P. lifted its position in shares of Biogen by 66.1% during the 3rd quarter. Alyeska Investment Group L.P. now owns 845,277 shares of the biotechnology company’s stock worth $118,406,000 after buying an additional 336,504 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Biogen by 425.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 348,404 shares of the biotechnology company’s stock worth $48,804,000 after buying an additional 282,084 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BIIB shares. Barclays started coverage on Biogen in a research report on Thursday, February 19th. They set an “equal weight” rating and a $185.00 target price for the company. Royal Bank Of Canada raised their target price on Biogen from $213.00 to $222.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Piper Sandler restated an “overweight” rating and set a $225.00 target price (up from $214.00) on shares of Biogen in a research report on Friday, May 15th. UBS Group upgraded Biogen from a “neutral” rating to a “buy” rating and raised their target price for the stock from $185.00 to $225.00 in a research report on Wednesday, April 22nd. Finally, HC Wainwright restated a “buy” rating on shares of Biogen in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Biogen presently has a consensus rating of “Moderate Buy” and an average target price of $215.62.

Biogen Stock Down 0.4%

NASDAQ BIIB opened at $193.08 on Wednesday. The firm has a market cap of $28.51 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 1.71 and a beta of 0.19. Biogen Inc. has a one year low of $121.05 and a one year high of $205.97. The stock’s 50 day simple moving average is $185.89 and its 200 day simple moving average is $181.55. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.06 and a quick ratio of 2.41.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $2.95 by $0.62. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.29 billion. Biogen had a return on equity of 12.83% and a net margin of 13.81%.Biogen’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. As a group, sell-side analysts forecast that Biogen Inc. will post 14.18 earnings per share for the current fiscal year.

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.