OVERSEA CHINESE BANKING Corp Ltd Acquires Shares of 13,000 Biogen Inc. $BIIB

OVERSEA CHINESE BANKING Corp Ltd bought a new position in Biogen Inc. (NASDAQ:BIIB) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 13,000 shares of the biotechnology company’s stock, valued at approximately $2,809,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Empowered Funds LLC grew its position in shares of Biogen by 64.9% in the first quarter. Empowered Funds LLC now owns 7,054 shares of the biotechnology company’s stock valued at $965,000 after purchasing an additional 2,777 shares in the last quarter. Focus Partners Wealth lifted its position in Biogen by 172.2% during the first quarter. Focus Partners Wealth now owns 10,173 shares of the biotechnology company’s stock worth $1,392,000 after buying an additional 6,436 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Biogen during the second quarter worth approximately $216,000. Cerity Partners LLC boosted its stake in Biogen by 15.3% during the second quarter. Cerity Partners LLC now owns 46,552 shares of the biotechnology company’s stock worth $5,847,000 after buying an additional 6,184 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Biogen by 13.4% during the second quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company’s stock worth $336,000 after buying an additional 316 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Bank of America cut their target price on Biogen from $217.00 to $215.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Wolfe Research raised shares of Biogen from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research report on Thursday, August 13th. Cantor Fitzgerald restated an “overweight” rating on shares of Biogen in a research report on Monday, June 22nd. Guggenheim boosted their target price on shares of Biogen from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Finally, HC Wainwright increased their price target on shares of Biogen from $237.00 to $251.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $227.07.

Biogen Stock Performance

Shares of Biogen stock opened at $214.35 on Friday. The firm has a market cap of $31.67 billion, a PE ratio of 37.94, a price-to-earnings-growth ratio of 6.90 and a beta of 0.17. The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.39. Biogen Inc. has a 52 week low of $131.52 and a 52 week high of $222.15. The business’s fifty day simple moving average is $205.20 and its 200-day simple moving average is $194.32.

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