Elevation Point Wealth Partners LLC Takes Position in Biogen Inc. $BIIB

Elevation Point Wealth Partners LLC acquired a new stake in shares of Biogen Inc. (NASDAQ:BIIB) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,724 shares of the biotechnology company’s stock, valued at approximately $683,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BIIB. Rothschild Investment LLC increased its holdings in shares of Biogen by 12.3% in the fourth quarter. Rothschild Investment LLC now owns 513 shares of the biotechnology company’s stock worth $90,000 after purchasing an additional 56 shares during the period. Itau Unibanco Holding S.A. grew its position in Biogen by 24.4% during the fourth quarter. Itau Unibanco Holding S.A. now owns 337 shares of the biotechnology company’s stock worth $59,000 after buying an additional 66 shares in the last quarter. Advisory Services Network LLC grew its position in Biogen by 3.9% during the third quarter. Advisory Services Network LLC now owns 1,792 shares of the biotechnology company’s stock worth $251,000 after buying an additional 68 shares in the last quarter. Davis Investment Partners LLC increased its stake in Biogen by 1.7% in the 4th quarter. Davis Investment Partners LLC now owns 4,374 shares of the biotechnology company’s stock worth $778,000 after acquiring an additional 71 shares during the last quarter. Finally, Optas LLC increased its stake in Biogen by 4.5% in the 4th quarter. Optas LLC now owns 1,706 shares of the biotechnology company’s stock worth $300,000 after acquiring an additional 73 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Biogen Stock Down 1.3%

Shares of BIIB opened at $205.70 on Wednesday. Biogen Inc. has a 1 year low of $121.05 and a 1 year high of $219.72. 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 has a 50 day simple moving average of $197.45 and a two-hundred day simple moving average of $187.61. The firm has a market cap of $30.37 billion, a P/E ratio of 22.07 and a beta of 0.16.

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

Analyst Ratings Changes

BIIB has been the subject of a number of research analyst reports. Rothschild & Co Redburn lifted their price target on Biogen from $180.00 to $190.00 in a research report on Thursday, April 30th. Needham & Company LLC upped their price objective on shares of Biogen from $255.00 to $256.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Canaccord Genuity Group raised their target price on shares of Biogen from $230.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. Oppenheimer lifted their target price on shares of Biogen from $275.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Finally, Evercore assumed coverage on shares of Biogen in a report on Friday, May 15th. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $218.22.

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.