83,853 Shares in Biogen Inc. $BIIB Bought by Freestone Grove Partners LP

Freestone Grove Partners LP purchased a new position in Biogen Inc. (NASDAQ:BIIB) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 83,853 shares of the biotechnology company’s stock, valued at approximately $18,117,000.

Several other large investors have also made changes to their positions in the business. Bell Investment Advisors Inc bought a new stake in Biogen during the 2nd quarter valued at approximately $27,000. Reflection Asset Management bought a new position in Biogen in the 4th quarter worth approximately $25,000. Root Financial Partners LLC boosted its stake in Biogen by 198.4% in the 4th quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 123 shares during the period. MV Capital Management Inc. purchased a new stake in Biogen during the 4th quarter valued at approximately $34,000. Finally, Strive Financial Group LLC bought a new stake in shares of Biogen during the fourth quarter valued at approximately $35,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on BIIB. Wall Street Zen downgraded shares of Biogen from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Freedom Capital upgraded shares of Biogen from a “hold” rating to a “strong-buy” rating in a report on Friday, May 1st. Morgan Stanley increased their price objective on shares of Biogen from $222.00 to $231.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Evercore began coverage on Biogen in a research report on Friday, May 15th. They set an “outperform” rating for the company. Finally, Piper Sandler reiterated an “overweight” rating on shares of Biogen in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $227.79.

Biogen Price Performance

NASDAQ:BIIB opened at $221.50 on Friday. The firm has a market capitalization of $32.73 billion, a price-to-earnings ratio of 39.20, a PEG ratio of 6.89 and a beta of 0.17. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.87 and a quick ratio of 1.26. The business has a 50 day simple moving average of $207.37 and a 200-day simple moving average of $195.52. Biogen Inc. has a 1 year low of $131.52 and a 1 year high of $222.85.

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