Leo Wealth LLC Makes New $5.12 Million Investment in Biogen Inc. $BIIB

Leo Wealth LLC acquired a new position in Biogen Inc. (NASDAQ:BIIB) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 22,652 shares of the biotechnology company’s stock, valued at approximately $5,117,000. Biogen comprises approximately 1.1% of Leo Wealth LLC’s portfolio, making the stock its 22nd biggest position.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BIIB. Bell Investment Advisors Inc acquired a new position in shares of Biogen during the 2nd quarter worth $27,000. Align Financial LLC increased its holdings in shares of Biogen by 339.3% in the 3rd quarter. Align Financial LLC now owns 123 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 95 shares in the last quarter. Canton Hathaway LLC acquired a new stake in shares of Biogen in the third quarter valued at about $31,000. Ashurst Perkins Coie Trust Co lifted its stake in shares of Biogen by 92.2% in the third quarter. Ashurst Perkins Coie Trust Co now owns 173 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 83 shares during the period. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in shares of Biogen in the first quarter valued at about $40,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Trading Up 0.6%

Biogen stock opened at $252.26 on Tuesday. The stock has a market cap of $37.27 billion, a PE ratio of 44.65, a P/E/G ratio of 2.99 and a beta of 0.09. The stock has a 50-day moving average price of $223.38 and a 200 day moving average price of $199.43. Biogen Inc. has a 52 week low of $138.00 and a 52 week high of $254.41. The company has a current ratio of 1.87, a quick ratio of 1.26 and a debt-to-equity ratio of 0.39.

Biogen (NASDAQ:BIIB) last released 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 for the quarter, compared to analyst estimates of $2.46 billion. During the same period in the prior year, the firm earned $5.47 EPS. The firm’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. Equities research analysts predict that Biogen Inc. will post 12.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Jefferies Financial Group reissued a “buy” rating on shares of Biogen in a report on Monday, July 13th. Guggenheim increased their target price on shares of Biogen from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Needham & Company LLC increased their target price on shares of Biogen from $255.00 to $256.00 and gave the company a “buy” rating in a report on Monday, June 29th. Seaport Research Partners upgraded shares of Biogen to an “outperform” rating in a research report on Monday, October 12th. Finally, Barclays boosted their price target on Biogen from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $241.89.

Biogen 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.