Korea Investment CORP Invests $7.25 Million in Biogen Inc. $BIIB

Korea Investment CORP acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 33,574 shares of the biotechnology company’s stock, valued at approximately $7,254,000.

Several other institutional investors have also recently made changes to their positions in the company. Bell Investment Advisors Inc purchased a new position in shares of Biogen in the 2nd quarter worth approximately $27,000. Reflection Asset Management purchased a new stake in shares of Biogen during the fourth quarter valued at approximately $25,000. Root Financial Partners LLC lifted its holdings in Biogen by 198.4% during the fourth quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 123 shares during the period. MV Capital Management Inc. purchased a new position in Biogen in the fourth quarter worth $34,000. Finally, Strive Financial Group LLC purchased a new position in Biogen in the fourth quarter worth $35,000. Institutional investors own 87.93% of the company’s stock.

Biogen Trading Up 0.6%

NASDAQ BIIB opened at $218.12 on Tuesday. The stock’s 50-day simple moving average is $205.92 and its two-hundred day simple moving average is $194.87. Biogen Inc. has a twelve month low of $131.52 and a twelve month high of $222.15. The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $32.23 billion, a price-to-earnings ratio of 38.61, a PEG ratio of 6.75 and a beta of 0.17.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Guggenheim boosted their price target on shares of Biogen from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Barclays upped their price objective on Biogen from $185.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 29th. Freedom Capital upgraded shares of Biogen from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 1st. Wedbush raised their price target on Biogen from $201.00 to $215.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Finally, HC Wainwright lifted their price target on Biogen from $237.00 to $251.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $227.07.

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.