Elo Mutual Pension Insurance Co Acquires 3,668 Shares of Biogen Inc. $BIIB

Elo Mutual Pension Insurance Co grew its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 20.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,602 shares of the biotechnology company’s stock after purchasing an additional 3,668 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Biogen were worth $3,026,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of BIIB. Vanguard Group Inc. increased its position in Biogen by 1.5% during the second quarter. Vanguard Group Inc. now owns 17,290,651 shares of the biotechnology company’s stock worth $2,171,533,000 after buying an additional 257,812 shares during the last quarter. State Street Corp boosted its stake in shares of Biogen by 1.0% during the 2nd quarter. State Street Corp now owns 7,468,807 shares of the biotechnology company’s stock worth $938,007,000 after acquiring an additional 71,897 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Biogen by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 3,918,150 shares of the biotechnology company’s stock worth $490,089,000 after acquiring an additional 71,286 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Biogen by 2.4% during the 2nd quarter. Invesco Ltd. now owns 2,320,126 shares of the biotechnology company’s stock valued at $291,385,000 after acquiring an additional 55,119 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Biogen in the 2nd quarter valued at approximately $284,358,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Insider Activity at Biogen

In other news, insider Priya Singhal sold 2,660 shares of Biogen stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $199.83, for a total transaction of $531,547.80. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BIIB shares. Wells Fargo & Company upped their target price on Biogen from $190.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Sunday, February 8th. UBS Group initiated coverage on shares of Biogen in a research note on Tuesday, January 6th. They issued a “neutral” rating and a $185.00 price objective for the company. Oppenheimer raised their target price on shares of Biogen from $205.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Morgan Stanley set a $190.00 target price on shares of Biogen in a report on Sunday, February 8th. Finally, Wall Street Zen cut shares of Biogen from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Twelve analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $205.04.

Biogen Price Performance

NASDAQ:BIIB opened at $184.02 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.68 and a quick ratio of 2.03. Biogen Inc. has a one year low of $110.04 and a one year high of $202.41. The company has a fifty day moving average price of $182.43 and a 200 day moving average price of $164.41. The stock has a market cap of $27.01 billion, a P/E ratio of 20.89, a PEG ratio of 1.49 and a beta of 0.15.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Friday, February 6th. The biotechnology company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.38. Biogen had a net margin of 13.07% and a return on equity of 12.64%. The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the prior year, the business earned $3.44 earnings per share. The firm’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. Analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

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.