3,724 Shares in Biogen Inc. $BIIB Acquired by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC acquired a new stake in Biogen Inc. (NASDAQ:BIIB) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 3,724 shares of the biotechnology company’s stock, valued at approximately $683,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Platform Technology Partners purchased a new position in shares of Biogen in the first quarter valued at about $220,000. Keybank National Association OH grew its stake in shares of Biogen by 4.9% in the first quarter. Keybank National Association OH now owns 8,834 shares of the biotechnology company’s stock worth $1,620,000 after purchasing an additional 416 shares during the last quarter. Root Financial Partners LLC increased its holdings in Biogen by 84.3% during the 1st quarter. Root Financial Partners LLC now owns 341 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 156 shares during the period. USS Investment Management Ltd raised its position in Biogen by 8.8% during the 1st quarter. USS Investment Management Ltd now owns 37,217 shares of the biotechnology company’s stock valued at $6,822,000 after purchasing an additional 3,001 shares during the last quarter. Finally, Adams Diversified Equity Fund Inc. raised its position in Biogen by 126.4% during the 1st quarter. Adams Diversified Equity Fund Inc. now owns 100,300 shares of the biotechnology company’s stock valued at $18,388,000 after purchasing an additional 56,000 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BIIB. Rothschild & Co Redburn lifted their price objective on Biogen from $180.00 to $190.00 in a research report on Thursday, April 30th. HSBC restated a “reduce” rating and set a $157.00 target price on shares of Biogen in a report on Monday. Freedom Capital raised Biogen from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 1st. Evercore assumed coverage on shares of Biogen in a research report on Friday, May 15th. They set an “outperform” rating on the stock. Finally, Zacks Research downgraded shares of Biogen from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.22.

Biogen Trading Down 1.3%

BIIB opened at $205.70 on Wednesday. The stock has a market cap of $30.37 billion, a PE ratio of 22.07 and a beta of 0.16. The company has a quick ratio of 2.41, a current ratio of 3.06 and a debt-to-equity ratio of 0.34. The business has a 50 day moving average of $197.45 and a 200-day moving average of $187.61. Biogen Inc. has a 52 week low of $121.05 and a 52 week high of $219.72.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share for the quarter, topping the consensus estimate of $2.95 by $0.62. The company had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.02 earnings per share. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Equities research analysts predict that Biogen Inc. will post 13.95 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.