Fifth Third Bancorp Grows Position in Biogen Inc. $BIIB

Fifth Third Bancorp grew its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 255.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,716 shares of the biotechnology company’s stock after purchasing an additional 23,504 shares during the quarter. Fifth Third Bancorp’s holdings in Biogen were worth $5,998,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of BIIB. Simplicity Wealth LLC grew its stake in Biogen by 10.1% in the 1st quarter. Simplicity Wealth LLC now owns 2,149 shares of the biotechnology company’s stock valued at $394,000 after buying an additional 197 shares in the last quarter. Candriam S.C.A. lifted its position in shares of Biogen by 15.5% during the first quarter. Candriam S.C.A. now owns 381,768 shares of the biotechnology company’s stock worth $69,990,000 after acquiring an additional 51,296 shares in the last quarter. Kestra Advisory Services LLC lifted its position in shares of Biogen by 28.9% during the first quarter. Kestra Advisory Services LLC now owns 5,810 shares of the biotechnology company’s stock worth $1,065,000 after acquiring an additional 1,301 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its holdings in shares of Biogen by 2.4% in the first quarter. Resona Asset Management Co. Ltd. now owns 46,261 shares of the biotechnology company’s stock worth $8,518,000 after acquiring an additional 1,075 shares during the period. Finally, Munich Reinsurance Co Stock Corp in Munich bought a new position in shares of Biogen in the first quarter worth $4,389,000. Institutional investors own 87.93% of the company’s stock.

Key Stories Impacting Biogen

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Synapticure launched a new virtual ataxia care program with Biogen support, highlighting continued investment in Biogen’s neurology franchise and potentially broadening patient access. Synapticure Launches Groundbreaking Ataxia Care Program, Expanding Access to Specialized Neurology Nationwide
• Positive Sentiment: Biogen appointed Michael J. Parini as Chief Legal Officer, a seasoned biopharma leader whose compliance and strategic experience may support execution and governance. Biogen Appoints Michael J. Parini as Chief Legal Officer
• Neutral Sentiment: Analysts offered fresh commentary on Biogen, but the headline did not include a clear new rating or target change, so the stock impact appears limited. Analysts Offer Insights on Healthcare Companies: HCA Healthcare (HCA) and Biogen (BIIB)
• Negative Sentiment: Recent Alzheimer’s-related data on diranersen and tau-targeting ASO programs raised questions about dosing and trial progress, which weighed on sentiment toward Biogen’s pipeline. Biogen shares slide as diranersen data raise dosing question
• Negative Sentiment: Investors reacted negatively to detailed diranersen Alzheimer’s study data, as the results reinforced concerns about a prior phase II setback despite plans to move ahead. Biogen Shares Decline After Detailed Diranersen Alzheimer’s Study Data

Biogen Stock Performance

NASDAQ:BIIB opened at $208.92 on Friday. The business’s 50-day moving average price is $199.18 and its two-hundred day moving average price is $188.88. Biogen Inc. has a twelve month low of $121.05 and a twelve month high of $219.72. The stock has a market cap of $30.84 billion, a P/E ratio of 22.42 and a beta of 0.16. The company has a quick ratio of 2.41, a current ratio of 3.06 and a debt-to-equity ratio of 0.34.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.95 by $0.62. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.29 billion. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the company posted $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. As a group, equities analysts predict that Biogen Inc. will post 13.5 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on BIIB shares. Zacks Research lowered Biogen from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. Needham & Company LLC raised their target price on Biogen from $255.00 to $256.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. The Goldman Sachs Group lifted their target price on Biogen from $231.00 to $238.00 and gave the company a “buy” rating in a report on Friday, April 24th. UBS Group raised shares of Biogen from a “neutral” rating to a “buy” rating and increased their price target for the stock from $185.00 to $225.00 in a report on Wednesday, April 22nd. Finally, HSBC restated a “reduce” rating and issued a $157.00 price objective on shares of Biogen in a research report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Biogen has an average rating of “Moderate Buy” and a consensus target price of $220.04.

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.