Biogen (BIIB) Stock Hits 52-Week High as BlackRock Takes $3.4B Stake
TLDR
- Biogen stock hit a 52-week high of $219.94, up 57% over the past year
- Q2 revenue came in at $2.74 billion, beating analyst expectations of $2.46 billion
- EPS of $3.60 beat the consensus estimate of $2.94
- Biogen raised its full-year 2026 revenue outlook to a mid-single-digit increase
- BlackRock bought 15.98 million Biogen stock units valued at approximately $3.45 billion
Biogen (BIIB) stock hit a 52-week high of $219.94 on Tuesday, up 57% over the past year. The stock opened at $212.55 on Wednesday and has a 52-week low of $131.52.
The move comes after a strong Q2 earnings report and a massive new position taken by BlackRock.
BlackRock bought 15.98 million units of Biogen stock in Q2, valued at around $3.45 billion. That gives the asset manager roughly 10.82% ownership of the company.
Several other institutional investors also added to their positions. Empowered Funds lifted its stake by 64.9%, Focus Partners Wealth increased its position by 172.2%, and Cerity Partners boosted its stake by 15.3%. In total, institutional investors and hedge funds now own 87.93% of BIIB.
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