SteelPeak Wealth LLC Takes $496,000 Position in Biogen Inc. $BIIB

SteelPeak Wealth LLC bought a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 2,704 shares of the biotechnology company’s stock, valued at approximately $496,000.

Several other hedge funds have also added to or reduced their stakes in BIIB. Empowered Funds LLC boosted its stake in Biogen by 64.9% in the 1st quarter. Empowered Funds LLC now owns 7,054 shares of the biotechnology company’s stock valued at $965,000 after purchasing an additional 2,777 shares during the period. Focus Partners Wealth increased its position in Biogen by 172.2% during the 1st quarter. Focus Partners Wealth now owns 10,173 shares of the biotechnology company’s stock worth $1,392,000 after buying an additional 6,436 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Biogen during the second quarter worth $216,000. Cerity Partners LLC lifted its holdings in shares of Biogen by 15.3% during the second quarter. Cerity Partners LLC now owns 46,552 shares of the biotechnology company’s stock worth $5,847,000 after buying an additional 6,184 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of Biogen by 13.4% in the second quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company’s stock valued at $336,000 after acquiring an additional 316 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Down 1.4%

BIIB stock opened at $205.99 on Friday. The company has a market cap of $30.41 billion, a PE ratio of 22.10 and a beta of 0.16. The business has a 50-day simple moving average of $199.43 and a 200 day simple moving average of $189.00. Biogen Inc. has a 52 week low of $121.05 and a 52 week high of $219.72. The company has a quick ratio of 2.41, a current ratio of 3.06 and a debt-to-equity ratio of 0.34.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data 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 business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Biogen had a net margin of 13.81% and a return on equity of 12.83%. Biogen’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.02 earnings per share. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Sell-side analysts anticipate that Biogen Inc. will post 13.45 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Mizuho decreased their price target on shares of Biogen from $236.00 to $221.00 and set an “outperform” rating on the stock in a research note on Monday, June 15th. Argus raised shares of Biogen to a “hold” rating in a report on Thursday, April 9th. HSBC restated a “reduce” rating and set a $157.00 target price on shares of Biogen in a research report on Monday, July 6th. The Goldman Sachs Group raised their target price on shares of Biogen from $231.00 to $238.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Finally, Freedom Capital upgraded shares of Biogen from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $220.04.

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.