TD Asset Management Inc Increases Stock Holdings in Biogen Inc. $BIIB

by · The Markets Daily

TD Asset Management Inc increased its holdings in shares of Biogen Inc. (NASDAQ:BIIB – Free Report) by 12.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 161,195 shares of the biotechnology company’s stock after buying an additional 18,168 shares during the quarter. TD Asset Management Inc owned about 0.11% of Biogen worth $22,580,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mufg Securities Americas Inc. lifted its holdings in shares of Biogen by 21.8% during the 3rd quarter. Mufg Securities Americas Inc. now owns 3,954 shares of the biotechnology company’s stock worth $554,000 after acquiring an additional 707 shares during the period. Dakota Wealth Management purchased a new position in Biogen during the third quarter worth approximately $1,215,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Biogen by 12.1% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,247 shares of the biotechnology company’s stock valued at $315,000 after purchasing an additional 243 shares during the last quarter. Inspire Trust Co. N.A. grew its stake in shares of Biogen by 11.1% during the 3rd quarter. Inspire Trust Co. N.A. now owns 20,000 shares of the biotechnology company’s stock valued at $2,802,000 after buying an additional 2,000 shares during the period. Finally, Lansforsakringar Fondforvaltning AB publ increased its holdings in shares of Biogen by 1.2% during the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 48,308 shares of the biotechnology company’s stock worth $6,767,000 after buying an additional 561 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Insider Activity

In other news, insider Priya Singhal sold 2,660 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $199.83, for a total transaction of $531,547.80. Following the completion of the transaction, the insider directly owned 8,043 shares in the company, valued at approximately $1,607,232.69. This represents a 24.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by insiders.

Biogen Stock Performance

Biogen stock opened at $191.82 on Friday. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $202.41. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.68 and a quick ratio of 2.03. The company has a market capitalization of $28.15 billion, a price-to-earnings ratio of 21.77, a price-to-earnings-growth ratio of 1.52 and a beta of 0.16. The firm’s fifty day moving average price is $181.98 and its 200 day moving average price is $163.51.

Biogen (NASDAQ:BIIB – Get Free Report) last announced its earnings results on Friday, February 6th. The biotechnology company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.38. Biogen had a return on equity of 12.64% and a net margin of 13.07%.The company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same period last year, the firm earned $3.44 earnings per share. The company’s revenue was down 7.2% on a year-over-year basis. Biogen has set its FY 2026 guidance at 15.250-16.250 EPS. On average, research analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Analyst Ratings Changes

BIIB has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their target price on Biogen from $190.00 to $200.00 and gave the company an “equal weight” rating in a report on Sunday, February 8th. Wall Street Zen cut Biogen from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. HSBC reissued a “reduce” rating and set a $143.00 target price (down from $144.00) on shares of Biogen in a research report on Wednesday, December 10th. UBS Group started coverage on shares of Biogen in a research report on Tuesday, January 6th. They set a “neutral” rating and a $185.00 price target on the stock. Finally, Wolfe Research set a $231.00 price objective on shares of Biogen in a research note on Monday, February 9th. Twelve analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $205.04.

View Our Latest Research Report on Biogen

About Biogen

(Free Report)

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.

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