Insight Wealth Strategies LLC Purchases 4,974 Shares of Biogen Inc. $BIIB

Insight Wealth Strategies LLC grew its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 16.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 34,320 shares of the biotechnology company’s stock after acquiring an additional 4,974 shares during the period. Insight Wealth Strategies LLC’s holdings in Biogen were worth $7,198,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in BIIB. Tema ETFs LLC boosted its position in shares of Biogen by 5.5% during the 2nd quarter. Tema ETFs LLC now owns 2,772 shares of the biotechnology company’s stock valued at $599,000 after purchasing an additional 145 shares in the last quarter. Generali Investments Management Co LLC boosted its stake in Biogen by 4.6% during the second quarter. Generali Investments Management Co LLC now owns 7,437 shares of the biotechnology company’s stock worth $1,607,000 after acquiring an additional 325 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of Biogen by 12.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 93,236 shares of the biotechnology company’s stock worth $20,145,000 after purchasing an additional 10,510 shares in the last quarter. Charles Schwab Trust Co acquired a new stake in shares of Biogen in the 2nd quarter valued at about $670,000. Finally, Valeo Financial Advisors LLC bought a new stake in Biogen in the 2nd quarter valued at about $281,000. 87.93% of the stock is currently owned by institutional investors.

Biogen Trading Down 1.6%

Shares of BIIB stock opened at $203.89 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 1.87. The company has a market capitalization of $30.12 billion, a price-to-earnings ratio of 36.09, a PEG ratio of 6.40 and a beta of 0.17. Biogen Inc. has a 52-week low of $128.25 and a 52-week high of $219.72. The company has a 50-day simple moving average of $202.93 and a two-hundred day simple moving average of $192.46.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.94 by $0.66. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.46 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The company’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Research analysts anticipate that Biogen Inc. will post 12.5 EPS for the current fiscal year.

Analysts Set New Price Targets

BIIB has been the subject of several recent research reports. Zacks Research upgraded Biogen from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. TD Cowen raised their price objective on shares of Biogen from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Canaccord Genuity Group boosted their target price on shares of Biogen from $245.00 to $248.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Royal Bank Of Canada lowered their target price on shares of Biogen from $242.00 to $240.00 and set an “outperform” rating on the stock in a report on Thursday, July 30th. Finally, UBS Group raised their price target 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. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $224.61.

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.