Caisse de depot et placement du Quebec Makes New $110.23 Million Investment in Biogen Inc. $BIIB

Caisse de depot et placement du Quebec purchased a new stake in Biogen Inc. (NASDAQ:BIIB) in the 2nd quarter, HoldingsChannel reports. The fund purchased 510,194 shares of the biotechnology company’s stock, valued at approximately $110,233,000.

Several other institutional investors have also recently made changes to their positions in BIIB. BlackRock Inc. bought a new stake in Biogen during the second quarter worth $3,453,878,000. Orbimed Advisors LLC bought a new position in Biogen during the 1st quarter valued at $11,293,000. LSV Asset Management lifted its stake in Biogen by 3.3% during the 4th quarter. LSV Asset Management now owns 316,815 shares of the biotechnology company’s stock valued at $55,756,000 after acquiring an additional 9,976 shares in the last quarter. Catalyst Funds Management Pty Ltd purchased a new position in Biogen during the 4th quarter worth $2,006,000. Finally, Systematic Financial Management LP boosted its holdings in Biogen by 256.3% during the 4th quarter. Systematic Financial Management LP now owns 16,640 shares of the biotechnology company’s stock worth $2,928,000 after acquiring an additional 11,970 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on BIIB shares. Canaccord Genuity Group increased their target price on shares of Biogen from $245.00 to $248.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Guggenheim raised their price target on shares of Biogen from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Bank of America cut their price target on shares of Biogen from $217.00 to $215.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Morgan Stanley upped their price objective on shares of Biogen from $222.00 to $231.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Finally, Evercore assumed coverage on shares of Biogen in a research note on Friday, May 15th. They issued an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $227.79.

Biogen Trading Up 0.1%

Shares of BIIB opened at $221.07 on Thursday. Biogen Inc. has a fifty-two week low of $131.52 and a fifty-two week high of $222.85. The business has a 50-day moving average of $206.87 and a 200 day moving average of $195.38. The firm has a market cap of $32.66 billion, a P/E ratio of 39.13, a price-to-earnings-growth ratio of 6.88 and a beta of 0.17. 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 (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, beating the consensus estimate of $2.94 by $0.66. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, research analysts forecast that Biogen Inc. will post 12.39 EPS for the current year.

About Biogen

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.