Nordea Investment Management AB Acquires 6,648 Shares of Biogen Inc. $BIIB

Nordea Investment Management AB grew its holdings in Biogen Inc. (NASDAQ:BIIB) by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 132,583 shares of the biotechnology company’s stock after purchasing an additional 6,648 shares during the period. Nordea Investment Management AB’s holdings in Biogen were worth $18,201,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of BIIB. Banque Pictet & Cie SA raised its stake in shares of Biogen by 5.5% during the 2nd quarter. Banque Pictet & Cie SA now owns 72,025 shares of the biotechnology company’s stock valued at $9,046,000 after purchasing an additional 3,751 shares during the period. Generali Investments CEE investicni spolecnost a.s. increased its position in shares of Biogen by 43.2% during the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 38,755 shares of the biotechnology company’s stock valued at $4,867,000 after buying an additional 11,695 shares during the period. Valeo Financial Advisors LLC purchased a new stake in shares of Biogen in the second quarter worth about $225,000. Privium Fund Management B.V. bought a new position in shares of Biogen in the second quarter valued at approximately $2,666,000. Finally, Pitcairn Co. purchased a new position in Biogen during the second quarter valued at approximately $936,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Guggenheim increased their target price on shares of Biogen from $165.00 to $185.00 in a research note on Friday, October 31st. Jefferies Financial Group increased their price objective on Biogen from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, November 28th. Tudor Pickering set a $157.00 target price on Biogen in a research report on Monday, November 3rd. Rothschild & Co Redburn upped their target price on Biogen from $149.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Finally, Morgan Stanley lifted their price target on Biogen from $149.00 to $156.00 and gave the company an “equal weight” rating in a research report on Friday, December 12th. Ten investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $190.50.

Biogen Trading Down 0.4%

Shares of BIIB stock opened at $168.57 on Friday. The business has a 50-day moving average price of $174.86 and a two-hundred day moving average price of $151.59. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $190.20. The company has a quick ratio of 2.04, a current ratio of 2.72 and a debt-to-equity ratio of 0.35. The firm has a market cap of $24.73 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 1.41 and a beta of 0.13.

Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $3.89 by $0.92. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.34 billion. Biogen had a return on equity of 14.13% and a net margin of 15.98%.Biogen’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.08 EPS. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. Equities analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal 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.