Handelsbanken Fonder AB Has $20.14 Million Position in Biogen Inc. $BIIB

Handelsbanken Fonder AB raised its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 12.7% in the second quarter, Holdings Channel reports. The fund owned 93,236 shares of the biotechnology company’s stock after acquiring an additional 10,510 shares during the period. Handelsbanken Fonder AB’s holdings in Biogen were worth $20,145,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rothschild Investment LLC increased its position in shares of Biogen by 12.3% during the 4th quarter. Rothschild Investment LLC now owns 513 shares of the biotechnology company’s stock worth $90,000 after purchasing an additional 56 shares in the last quarter. Meeder Advisory Services Inc. boosted its position in Biogen by 1.2% in the first quarter. Meeder Advisory Services Inc. now owns 4,721 shares of the biotechnology company’s stock valued at $866,000 after buying an additional 57 shares in the last quarter. Kera Capital Partners Inc. boosted its position in Biogen by 3.5% in the first 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 in the last quarter. Parallel Advisors LLC grew its stake in Biogen by 1.5% during the first quarter. Parallel Advisors LLC now owns 4,367 shares of the biotechnology company’s stock worth $801,000 after buying an additional 65 shares during the last quarter. Finally, Itau Unibanco Holding S.A. increased its holdings in shares of Biogen by 24.4% during the fourth quarter. Itau Unibanco Holding S.A. now owns 337 shares of the biotechnology company’s stock worth $59,000 after buying an additional 66 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Price Performance

BIIB opened at $208.87 on Thursday. 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 stock has a market capitalization of $30.86 billion, a P/E ratio of 36.97, a price-to-earnings-growth ratio of 6.30 and a beta of 0.17. The company’s 50 day simple moving average is $203.19 and its 200-day simple moving average is $192.71. Biogen Inc. has a one year low of $129.40 and a one year high of $219.72.

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, topping the consensus estimate of $2.94 by $0.66. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. Biogen’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Sell-side analysts anticipate that Biogen Inc. will post 12.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BIIB. TD Cowen lifted their target price on shares of Biogen from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Guggenheim raised their price target on Biogen from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. HSBC reiterated a “reduce” rating and issued a $157.00 price objective on shares of Biogen in a research report on Monday, July 6th. Oppenheimer reissued an “outperform” rating and issued a $300.00 price objective on shares of Biogen in a research note on Wednesday, July 29th. Finally, Truist Financial upgraded Biogen from a “hold” rating to a “buy” rating and increased their target price for the stock from $190.00 to $235.00 in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $224.61.

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.