OP Asset Management Ltd Buys New Stake in Biogen Inc. $BIIB

OP Asset Management Ltd bought a new stake in shares of Biogen Inc. (NASDAQ:BIIB) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 15,263 shares of the biotechnology company’s stock, valued at approximately $2,798,000.

Several other hedge funds also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Biogen in the fourth quarter worth $464,408,000. Boston Partners purchased a new stake in Biogen during the 4th quarter worth about $302,815,000. Fred Alger Management LLC increased its position in Biogen by 39,074.8% during the 4th quarter. Fred Alger Management LLC now owns 798,774 shares of the biotechnology company’s stock worth $140,576,000 after purchasing an additional 796,735 shares in the last quarter. Employees Provident Fund Board acquired a new position in Biogen in the 4th quarter valued at about $123,931,000. Finally, Orion Porfolio Solutions LLC lifted its holdings in Biogen by 6,828.4% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company’s stock valued at $64,965,000 after purchasing an additional 509,809 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

BIIB stock opened at $216.03 on Friday. The company has a market cap of $31.89 billion, a PE ratio of 23.18 and a beta of 0.20. The company has a current ratio of 3.06, a quick ratio of 2.41 and a debt-to-equity ratio of 0.34. The stock has a 50-day moving average price of $193.37 and a two-hundred day moving average price of $185.67. Biogen Inc. has a 12-month low of $121.05 and a 12-month high of $218.06.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $2.95 by $0.62. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.29 billion. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business posted $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. As a group, research analysts predict that Biogen Inc. will post 13.95 EPS for the current year.

Wall Street Analyst Weigh In

BIIB has been the topic of several analyst reports. Mizuho decreased their price target on shares of Biogen from $236.00 to $221.00 and set an “outperform” rating on the stock in a research note on Monday, June 15th. Evercore initiated coverage on shares of Biogen in a research report on Friday, May 15th. They set an “outperform” rating on the stock. Argus raised shares of Biogen to a “hold” rating in a research note on Thursday, April 9th. Needham & Company LLC reiterated a “buy” rating on shares of Biogen in a report on Thursday, June 18th. Finally, Guggenheim increased their price target on Biogen from $246.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $217.37.

Biogen 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.