Candriam S.C.A. Has $69.99 Million Stake in Biogen Inc. $BIIB

Candriam S.C.A. grew its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 15.5% in the first quarter, HoldingsChannel.com reports. The firm owned 381,768 shares of the biotechnology company’s stock after purchasing an additional 51,296 shares during the period. Candriam S.C.A.’s holdings in Biogen were worth $69,990,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of BIIB. Kestra Advisory Services LLC grew its holdings in 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 buying an additional 1,301 shares in the last quarter. Resona Asset Management Co. Ltd. lifted its stake in Biogen by 2.4% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 46,261 shares of the biotechnology company’s stock valued at $8,518,000 after acquiring an additional 1,075 shares in the last quarter. Munich Reinsurance Co Stock Corp in Munich purchased a new position in Biogen during the 1st quarter worth $4,389,000. Oregon Public Employees Retirement Fund boosted its holdings in Biogen by 0.6% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 16,841 shares of the biotechnology company’s stock worth $3,087,000 after acquiring an additional 100 shares during the last quarter. Finally, Aljian Capital Management LLC grew its stake in shares of Biogen by 5.2% in the 1st quarter. Aljian Capital Management LLC now owns 2,540 shares of the biotechnology company’s stock worth $466,000 after acquiring an additional 125 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BIIB has been the subject of several analyst reports. HC Wainwright reiterated a “buy” rating on shares of Biogen in a report on Thursday, May 14th. HSBC reaffirmed a “reduce” rating and issued a $157.00 price objective on shares of Biogen in a research report on Monday. Zacks Research lowered shares of Biogen from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. Mizuho dropped their target price on shares of Biogen from $236.00 to $221.00 and set an “outperform” rating on the stock in a research report on Monday, June 15th. Finally, Royal Bank Of Canada boosted their target price on Biogen from $227.00 to $242.00 and gave the stock an “outperform” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.15.

Biogen Trading Up 0.1%

NASDAQ BIIB opened at $199.15 on Friday. The stock has a market capitalization of $29.40 billion, a price-to-earnings ratio of 21.37 and a beta of 0.16. Biogen Inc. has a one year low of $121.05 and a one 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 business’s fifty day moving average is $198.25 and its 200-day moving average is $188.07.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share for the quarter, beating the consensus estimate of $2.95 by $0.62. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the prior year, the business earned $3.02 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Equities research analysts predict that Biogen Inc. will post 13.77 EPS 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.