Contravisory Investment Management Inc. Invests $8.19 Million in Biogen Inc. $BIIB

Contravisory Investment Management Inc. acquired a new stake in Biogen Inc. (NASDAQ:BIIB) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 44,677 shares of the biotechnology company’s stock, valued at approximately $8,191,000. Biogen accounts for about 1.7% of Contravisory Investment Management Inc.’s investment portfolio, making the stock its 28th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. Reflection Asset Management acquired a new position in Biogen during the 4th quarter worth $25,000. WPG Advisers LLC increased its holdings in Biogen by 417.9% during the 4th quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 117 shares during the period. First Horizon Corp acquired a new stake in Biogen in the 4th quarter valued at about $30,000. Root Financial Partners LLC raised its position in Biogen by 198.4% in the 4th quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 123 shares in the last quarter. Finally, MV Capital Management Inc. acquired a new position in shares of Biogen during the fourth quarter worth about $34,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Stock Performance

BIIB opened at $201.96 on Friday. The stock has a market cap of $29.82 billion, a P/E ratio of 21.67 and a beta of 0.20. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.06 and a quick ratio of 2.41. The stock’s 50 day simple moving average is $192.66 and its 200 day simple moving average is $185.46. Biogen Inc. has a 1-year low of $121.05 and a 1-year high of $206.67.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BIIB. Truist Financial reduced their price objective on shares of Biogen from $193.00 to $189.00 and set a “hold” rating on the stock in a report on Monday, April 13th. Needham & Company LLC reiterated a “buy” rating on shares of Biogen in a research note on Thursday, June 18th. Cantor Fitzgerald reissued an “overweight” rating on shares of Biogen in a report on Monday. Argus raised shares of Biogen to a “hold” rating in a research report on Thursday, April 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Biogen from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $217.37.

About Biogen

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.