Insight Wealth Strategies LLC Purchases New Shares in Biogen Inc. $BIIB

Insight Wealth Strategies LLC acquired a new stake in shares of Biogen Inc. (NASDAQ:BIIB) in the 4th quarter, Holdings Channel reports. The firm acquired 28,960 shares of the biotechnology company’s stock, valued at approximately $5,097,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Elevation Point Wealth Partners LLC bought a new stake in shares of Biogen in the 2nd quarter worth about $25,000. Rothschild Investment LLC lifted its holdings in shares of Biogen by 64.7% in the 2nd quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 88 shares during the last quarter. Accredited Wealth Management LLC lifted its holdings in shares of Biogen by 1,233.3% in the 3rd quarter. Accredited Wealth Management LLC now owns 200 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 185 shares during the last quarter. WFA of San Diego LLC purchased a new position in Biogen in the second quarter worth about $32,000. Finally, True Wealth Design LLC grew its position in Biogen by 62.9% in the third quarter. True Wealth Design LLC now owns 233 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 90 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Priya Singhal sold 2,660 shares of the stock in a transaction 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 transaction, the insider owned 8,043 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BIIB shares. Oppenheimer upped their price objective on Biogen from $205.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Guggenheim lifted their target price on Biogen from $185.00 to $246.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Citigroup boosted their target price on Biogen from $185.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. BMO Capital Markets increased their price target on Biogen from $165.00 to $196.00 and gave the company a “market perform” rating in a report on Friday, February 6th. Finally, TD Cowen raised their price target on Biogen from $175.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Twelve research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Biogen presently has a consensus rating of “Hold” and an average target price of $205.31.

Biogen Stock Performance

Biogen stock opened at $182.31 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.03 and a current ratio of 2.68. The company has a market capitalization of $26.76 billion, a PE ratio of 20.69, a P/E/G ratio of 1.47 and a beta of 0.15. The company has a 50 day moving average price of $184.23 and a 200-day moving average price of $168.02. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $202.41.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Friday, February 6th. The biotechnology company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.38. The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Biogen had a return on equity of 12.64% and a net margin of 13.07%.Biogen’s revenue was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.44 earnings per share. Biogen has set its FY 2026 guidance at 15.250-16.250 EPS. As a group, equities analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current 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.