Man Group plc Purchases Shares of 196,222 Biogen Inc. $BIIB

Man Group plc acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the 2nd quarter, Holdings Channel reports. The fund acquired 196,222 shares of the biotechnology company’s stock, valued at approximately $42,396,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of BIIB. Vanguard Group Inc. lifted its position in Biogen by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 17,447,092 shares of the biotechnology company’s stock valued at $3,070,514,000 after purchasing an additional 157,857 shares during the last quarter. BlackRock Inc. bought a new position in shares of Biogen in the 2nd quarter valued at about $3,453,878,000. Primecap Management Co. CA bought a new position in shares of Biogen in the 2nd quarter valued at about $3,274,304,000. Geode Capital Management LLC grew its position in Biogen by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 4,199,399 shares of the biotechnology company’s stock worth $736,435,000 after acquiring an additional 130,618 shares in the last quarter. Finally, Norges Bank purchased a new position in Biogen in the fourth quarter worth about $464,408,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BIIB has been the topic of a number of recent research reports. Barclays upped their price objective on Biogen from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 29th. Canaccord Genuity Group boosted their target price on Biogen from $245.00 to $248.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Rothschild & Co Redburn raised their price target on Biogen from $180.00 to $190.00 in a research report on Thursday, April 30th. Citigroup boosted their price objective on shares of Biogen from $200.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Finally, HSBC reissued a “reduce” rating and issued a $157.00 target price on shares of Biogen in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $227.79.

Biogen Price Performance

NASDAQ BIIB opened at $221.07 on Thursday. The company has a market cap of $32.66 billion, a PE ratio of 39.13, a P/E/G ratio of 6.88 and a beta of 0.17. The firm’s 50 day moving average price is $206.87 and its 200-day moving average price is $195.38. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 1.87. Biogen Inc. has a 52-week low of $131.52 and a 52-week high of $222.85.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.94 by $0.66. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period last year, the business earned $5.47 EPS. The company’s revenue was up 3.4% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Sell-side analysts forecast that Biogen Inc. will post 12.39 EPS for the current fiscal 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.