Root Financial Partners LLC Makes New $895,000 Investment in Biogen Inc. $BIIB

Root Financial Partners LLC acquired a new stake in Biogen Inc. (NASDAQ:BIIB) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,963 shares of the biotechnology company’s stock, valued at approximately $895,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Biogen during the second quarter worth about $3,453,878,000. Primecap Management Co. CA bought a new stake in shares of Biogen in the 2nd quarter valued at about $3,274,304,000. Wellington Management Group LLP increased its stake in shares of Biogen by 5.3% in the 2nd quarter. Wellington Management Group LLP now owns 3,117,469 shares of the biotechnology company’s stock valued at $673,560,000 after acquiring an additional 155,828 shares during the last quarter. Amundi increased its stake in shares of Biogen by 91.8% in the 2nd quarter. Amundi now owns 1,516,831 shares of the biotechnology company’s stock valued at $327,727,000 after acquiring an additional 726,004 shares during the last quarter. Finally, Legal & General Group Plc acquired a new stake in shares of Biogen in the 2nd quarter valued at approximately $322,640,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

BIIB has been the topic of several recent analyst reports. BMO Capital Markets reissued a “market perform” rating and set a $220.00 price objective on shares of Biogen in a research note on Monday, October 12th. Wells Fargo & Company upped their target price on shares of Biogen from $250.00 to $310.00 and gave the company an “overweight” rating in a research note on Tuesday. Wolfe Research upgraded shares of Biogen from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a report on Thursday, August 13th. Stifel Nicolaus set a $242.00 price target on shares of Biogen in a research report on Thursday, September 10th. Finally, UBS Group lifted their price target on shares of Biogen from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have issued a Hold rating and one has assigned 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 $241.89.

Biogen Trading Down 1.2%

NASDAQ BIIB opened at $250.69 on Friday. Biogen Inc. has a one year low of $138.00 and a one year high of $254.41. 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 firm has a market cap of $37.04 billion, a P/E ratio of 44.37, a P/E/G ratio of 2.83 and a beta of 0.09. The stock’s 50-day moving average is $223.60 and its 200-day moving average is $206.04.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, topping the consensus estimate of $2.94 by $0.66. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the company posted $5.47 EPS. The business’s quarterly revenue was up 3.4% on a year-over-year basis. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Sell-side analysts anticipate that Biogen Inc. will post 12.29 earnings per share for the current fiscal year.

Biogen Company Profile

Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for neurological and neurodegenerative diseases. Its areas of focus include multiple sclerosis, Alzheimer’s disease, spinal muscular atrophy, amyotrophic lateral sclerosis and other serious medical conditions.

The company’s portfolio includes multiple sclerosis treatments such as Tecfidera, Vumerity, Tysabri, Plegridy and Avonex, as well as Spinraza for spinal muscular atrophy. Biogen also markets Leqembi, an Alzheimer’s disease treatment developed in collaboration with Eisai, and works with partners to advance additional therapies and biosimilars.

Biogen was founded in 1978 and is headquartered in Cambridge, Massachusetts.