OMERS ADMINISTRATION Corp Buys Shares of 23,421 Biogen Inc. $BIIB

OMERS ADMINISTRATION Corp bought a new stake in shares of Biogen Inc. (NASDAQ:BIIB) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 23,421 shares of the biotechnology company’s stock, valued at approximately $5,060,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Empowered Funds LLC increased its position in Biogen by 64.9% in the first quarter. Empowered Funds LLC now owns 7,054 shares of the biotechnology company’s stock worth $965,000 after buying an additional 2,777 shares during the period. Focus Partners Wealth boosted its holdings in shares of Biogen by 172.2% during the first quarter. Focus Partners Wealth now owns 10,173 shares of the biotechnology company’s stock valued at $1,392,000 after acquiring an additional 6,436 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Biogen during the second quarter worth about $216,000. Cerity Partners LLC grew its position in shares of Biogen by 15.3% during the second quarter. Cerity Partners LLC now owns 46,552 shares of the biotechnology company’s stock worth $5,847,000 after acquiring an additional 6,184 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of Biogen by 13.4% in the 2nd quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company’s stock worth $336,000 after acquiring an additional 316 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on BIIB. Zacks Research upgraded shares of Biogen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. HSBC restated a “reduce” rating and issued a $157.00 target price on shares of Biogen in a research report on Monday, July 6th. Needham & Company LLC lifted 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. HC Wainwright boosted their price objective on Biogen from $237.00 to $251.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Wedbush boosted their price objective on Biogen from $201.00 to $215.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Biogen has an average rating of “Moderate Buy” and a consensus price target of $227.07.

Biogen Stock Performance

BIIB stock opened at $218.12 on Tuesday. The company has a market capitalization of $32.23 billion, a P/E ratio of 38.61, a PEG ratio of 6.75 and a beta of 0.17. The company has a 50-day simple moving average of $205.92 and a 200 day simple moving average of $194.87. Biogen Inc. has a fifty-two week low of $131.52 and a fifty-two week 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.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.94 by $0.66. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. Biogen’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Sell-side analysts predict that Biogen Inc. will post 12.39 earnings per share for the current fiscal year.

Biogen Company 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.