Elevation Point Wealth Partners LLC Purchases Shares of 3,519 Biogen Inc. $BIIB

Elevation Point Wealth Partners LLC acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,519 shares of the biotechnology company’s stock, valued at approximately $760,000.

Several other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Biogen during the 2nd quarter worth $3,453,878,000. Norges Bank bought a new position in Biogen in the 4th quarter valued at about $464,408,000. Boston Partners bought a new stake in shares of Biogen during the 4th quarter worth about $302,815,000. Deutsche Bank AG acquired a new stake in shares of Biogen in the 2nd quarter worth approximately $193,165,000. Finally, Fred Alger Management LLC increased its stake in shares of Biogen by 39,074.8% during the fourth quarter. Fred Alger Management LLC now owns 798,774 shares of the biotechnology company’s stock valued at $140,576,000 after acquiring an additional 796,735 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Performance

Shares of BIIB opened at $218.12 on Tuesday. The company has a market capitalization of $32.23 billion, a PE ratio of 38.61, a PEG ratio of 6.75 and a beta of 0.17. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 1.87. The company’s 50 day moving average price is $205.92 and its 200 day moving average price is $194.87. Biogen Inc. has a 52 week low of $131.52 and a 52 week high of $222.15.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BIIB shares. Barclays upped their price target on shares of Biogen from $185.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, July 29th. UBS Group raised their price objective on Biogen from $225.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Zacks Research raised Biogen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Morgan Stanley upped their price target on shares of Biogen from $222.00 to $231.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Finally, Sanford C. Bernstein lowered their price objective on shares of Biogen from $201.00 to $200.00 in a research report on Thursday, April 30th. One investment 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $227.07.

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.