Principal Financial Group Inc. Grows Position in Biogen Inc. $BIIB

Principal Financial Group Inc. increased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 1.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 187,059 shares of the biotechnology company’s stock after acquiring an additional 2,870 shares during the quarter. Principal Financial Group Inc.’s holdings in Biogen were worth $34,294,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Norges Bank purchased a new stake in Biogen in the 4th quarter worth $464,408,000. Boston Partners purchased a new position in shares of Biogen during the fourth quarter valued at about $302,815,000. Fred Alger Management LLC increased its holdings in shares of Biogen by 39,074.8% in the fourth quarter. Fred Alger Management LLC now owns 798,774 shares of the biotechnology company’s stock worth $140,576,000 after purchasing an additional 796,735 shares during the last quarter. Employees Provident Fund Board bought a new stake in shares of Biogen in the fourth quarter worth about $123,931,000. Finally, Orion Porfolio Solutions LLC lifted its position in shares of Biogen by 6,828.4% in the second quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company’s stock worth $64,965,000 after buying an additional 509,809 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Trading Down 1.4%

Shares of BIIB stock opened at $205.99 on Friday. Biogen Inc. has a 1 year low of $121.05 and a 1 year high of $219.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.06 and a quick ratio of 2.41. The stock’s 50 day simple moving average is $199.43 and its two-hundred day simple moving average is $189.00. The company has a market cap of $30.41 billion, a PE ratio of 22.10 and a beta of 0.16.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $2.95 by $0.62. The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Research analysts predict that Biogen Inc. will post 13.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Needham & Company LLC raised their price target on Biogen from $255.00 to $256.00 and gave the company a “buy” rating in a report on Monday, June 29th. UBS Group upgraded Biogen from a “neutral” rating to a “buy” rating and increased their target price for the company from $185.00 to $225.00 in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. raised their target price on shares of Biogen from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, April 23rd. Zacks Research cut shares of Biogen from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. Finally, Royal Bank Of Canada upped their price target on shares of Biogen from $227.00 to $242.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Biogen has an average rating of “Moderate Buy” and a consensus target price of $220.04.

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.