Proficio Capital Partners LLC Invests $584,000 in Biogen Inc. $BIIB

Proficio Capital Partners LLC purchased a new stake in shares of Biogen Inc. (NASDAQ:BIIB) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 2,701 shares of the biotechnology company’s stock, valued at approximately $584,000.

Several other large investors have also recently modified their holdings of the stock. Pure Financial Advisors LLC purchased a new position in shares of Biogen in the 2nd quarter worth about $311,000. Corient Private Wealth LP purchased a new stake in Biogen during the 2nd quarter valued at about $10,556,000. Parallax Volatility Advisers L.P. purchased a new stake in Biogen during the 2nd quarter valued at about $495,000. Artia Global Partners LP bought a new stake in Biogen during the 2nd quarter valued at about $3,983,000. Finally, Bank of America Corp DE purchased a new position in Biogen in the second quarter worth about $241,172,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on BIIB shares. Weiss Ratings downgraded shares of Biogen from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. Freedom Capital raised shares of Biogen from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 1st. Sanford C. Bernstein decreased their price objective on shares of Biogen from $201.00 to $200.00 in a report on Thursday, April 30th. Wedbush upped their price objective on Biogen from $201.00 to $215.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Finally, Mizuho increased their target price on Biogen from $221.00 to $241.00 and gave the company an “outperform” rating in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Biogen has a consensus rating of “Moderate Buy” and a consensus price target of $227.79.

Biogen Price Performance

BIIB opened at $221.50 on Friday. The company’s 50-day simple moving average is $207.37 and its two-hundred day simple moving average is $195.52. 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 stock has a market capitalization of $32.73 billion, a P/E ratio of 39.20, a P/E/G ratio of 6.89 and a beta of 0.17. Biogen Inc. has a 52-week low of $131.52 and a 52-week high of $222.85.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, topping 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 firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same period in the previous year, the business posted $5.47 earnings per share. The business’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. As a group, analysts predict 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.