Commerce Bank Purchases Shares of 11,672 Biogen Inc. $BIIB

Commerce Bank purchased a new position in Biogen Inc. (NASDAQ:BIIB) during the 2nd quarter, HoldingsChannel reports. The fund purchased 11,672 shares of the biotechnology company’s stock, valued at approximately $2,522,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in BIIB. Vanguard Group Inc. raised its holdings in shares of Biogen by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 17,447,092 shares of the biotechnology company’s stock valued at $3,070,514,000 after acquiring an additional 157,857 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Biogen during the second quarter worth about $3,453,878,000. Geode Capital Management LLC grew its holdings in shares of Biogen by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 4,199,399 shares of the biotechnology company’s stock worth $736,435,000 after purchasing an additional 130,618 shares in the last quarter. Norges Bank bought a new position in shares of Biogen in the fourth quarter worth approximately $464,408,000. Finally, Invesco Ltd. raised its stake in Biogen by 4.2% in the third quarter. Invesco Ltd. now owns 2,418,127 shares of the biotechnology company’s stock valued at $338,731,000 after purchasing an additional 98,001 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Stock Performance

NASDAQ:BIIB opened at $218.12 on Tuesday. 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. The business has a 50 day moving average of $205.92 and a 200 day moving average of $194.87. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.87 and a quick ratio of 1.26. Biogen Inc. has a 1-year low of $131.52 and a 1-year high of $222.15.

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. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the business earned $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, sell-side analysts predict that Biogen Inc. will post 12.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BIIB has been the subject of several research analyst reports. Needham & Company LLC lifted their target price on shares of Biogen from $255.00 to $256.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Guggenheim increased 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. UBS Group raised their price objective on shares of Biogen from $225.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Truist Financial raised shares of Biogen from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $190.00 to $235.00 in a report on Monday, July 13th. Finally, Morgan Stanley upped their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.