Biogen Inc. $BIIB Stock Bought by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC increased its position in Biogen Inc. (NASDAQ:BIIB) by 463.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,008 shares of the biotechnology company’s stock after buying an additional 7,409 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Biogen were worth $2,035,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BIIB. BlackRock Inc. acquired a new position in shares of Biogen during the second quarter worth approximately $3,453,878,000. Orbimed Advisors LLC acquired a new stake in Biogen in the 1st quarter valued at $11,293,000. Nippon Life Global Investors Americas Inc. acquired a new stake in Biogen in the 2nd quarter valued at $29,648,000. Handelsbanken Fonder AB increased its stake in Biogen by 12.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 93,236 shares of the biotechnology company’s stock valued at $20,145,000 after purchasing an additional 10,510 shares in the last quarter. Finally, Tidal Investments LLC increased its stake in Biogen by 9.0% during the 2nd quarter. Tidal Investments LLC now owns 63,842 shares of the biotechnology company’s stock valued at $13,794,000 after purchasing an additional 5,256 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

Biogen Stock Up 2.4%

NASDAQ:BIIB traded up $5.56 on Thursday, hitting $238.39. The stock had a trading volume of 819,121 shares, compared to its average volume of 1,202,329. The stock has a market cap of $35.22 billion, a P/E ratio of 42.16, a price-to-earnings-growth ratio of 2.53 and a beta of 0.09. 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 firm’s fifty day simple moving average is $218.89 and its two-hundred day simple moving average is $203.29. Biogen Inc. has a 1 year low of $138.00 and a 1 year high of $240.99.

Biogen (NASDAQ:BIIB) last issued 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. The business 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 period last year, the company posted $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Analysts predict that Biogen Inc. will post 12.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

BIIB has been the topic of a number of recent research reports. HC Wainwright raised their price objective on shares of Biogen from $237.00 to $251.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Jefferies Financial Group reissued a “buy” rating on shares of Biogen in a research report on Monday, July 13th. Zacks Research upgraded shares of Biogen from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. Stifel Nicolaus set a $242.00 price target on shares of Biogen in a research report on Thursday, September 10th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Biogen in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $236.04.

Biogen Profile

Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for serious neurological and neurodegenerative diseases. Its research focuses on conditions including multiple sclerosis, spinal muscular atrophy, Alzheimer’s disease, amyotrophic lateral sclerosis and rare neuromuscular disorders.

Biogen’s products include Spinraza (nusinersen) for spinal muscular atrophy, Tysabri (natalizumab) and Tecfidera (dimethyl fumarate) for multiple sclerosis, Qalsody (tofersen) for a genetically defined form of ALS, and Skyclarys (omaveloxolone) for Friedreich’s ataxia.