Elevation Point Wealth Partners LLC Buys New Stake in Biogen Inc. $BIIB

Elevation Point Wealth Partners LLC purchased a new position in Biogen Inc. (NASDAQ:BIIB) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,519 shares of the biotechnology company’s stock, valued at approximately $760,000.

A number of other large investors have also made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Biogen in the 2nd quarter valued at about $3,453,878,000. Orbimed Advisors LLC acquired a new stake in Biogen during the 1st quarter worth approximately $11,293,000. LSV Asset Management raised its holdings in Biogen by 3.3% in the fourth quarter. LSV Asset Management now owns 316,815 shares of the biotechnology company’s stock valued at $55,756,000 after buying an additional 9,976 shares during the period. Catalyst Funds Management Pty Ltd acquired a new position in Biogen during the fourth quarter valued at approximately $2,006,000. Finally, Systematic Financial Management LP lifted its position in Biogen by 256.3% during the fourth quarter. Systematic Financial Management LP now owns 16,640 shares of the biotechnology company’s stock valued at $2,928,000 after buying an additional 11,970 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

BIIB has been the subject of several recent research reports. Rothschild & Co Redburn increased their price objective on shares of Biogen from $180.00 to $190.00 in a research report on Thursday, April 30th. HSBC reaffirmed a “reduce” rating and set a $157.00 price target on shares of Biogen in a research report on Monday, July 6th. Needham & Company LLC increased their price target on Biogen from $255.00 to $256.00 and gave the company a “buy” rating in a report on Monday, June 29th. Guggenheim boosted their price objective on Biogen from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Biogen in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $227.07.

Biogen Stock Up 0.6%

Shares of Biogen stock opened at $218.12 on Tuesday. The business has a 50-day moving average of $205.92 and a 200-day moving average of $194.87. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.87 and a quick ratio of 1.26. The company has a market capitalization of $32.23 billion, a PE ratio of 38.61, a P/E/G ratio of 6.75 and a beta of 0.17. Biogen Inc. has a 1-year low of $131.52 and a 1-year high of $222.15.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.94 by $0.66. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. As a group, equities analysts forecast that Biogen Inc. will post 12.39 EPS for the current fiscal year.

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.