K.J. Harrison & Partners Inc Invests $1.55 Million in Biogen Inc. $BIIB

K.J. Harrison & Partners Inc bought a new stake in shares of Biogen Inc. (NASDAQ:BIIB) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 10,006 shares of the biotechnology company’s stock, valued at approximately $1,553,000.

Several other institutional investors also recently added to or reduced their stakes in BIIB. Elevation Point Wealth Partners LLC acquired a new position in shares of Biogen during the second quarter worth approximately $25,000. Rothschild Investment LLC boosted its holdings in Biogen by 64.7% in the 2nd quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 88 shares during the period. NewSquare Capital LLC grew its position in Biogen by 134.6% in the 2nd quarter. NewSquare Capital LLC now owns 244 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 140 shares during the last quarter. WFA of San Diego LLC bought a new position in shares of Biogen during the 2nd quarter worth about $32,000. Finally, True Wealth Design LLC raised its position in shares of Biogen by 62.9% during the third quarter. True Wealth Design LLC now owns 233 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 90 shares during the last quarter. 87.93% of the stock is owned by institutional investors.

Biogen Stock Down 2.3%

Shares of NASDAQ:BIIB opened at $190.73 on Thursday. The company’s fifty day moving average is $181.28 and its 200-day moving average is $162.65. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.03 and a current ratio of 2.68. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $202.41. The company has a market capitalization of $27.99 billion, a PE ratio of 21.65, a P/E/G ratio of 1.55 and a beta of 0.16.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Friday, February 6th. The biotechnology company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.38. The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.21 billion. Biogen had a net margin of 13.07% and a return on equity of 12.64%. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period last year, the firm posted $3.44 EPS. Biogen has set its FY 2026 guidance at 15.250-16.250 EPS. Equities research analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. HC Wainwright lifted their target price on Biogen from $194.00 to $228.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Barclays initiated coverage on Biogen in a research note on Thursday, February 19th. They issued an “equal weight” rating and a $185.00 target price for the company. Jefferies Financial Group lifted their price target on shares of Biogen from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, November 28th. Wedbush boosted their price target on shares of Biogen from $178.00 to $187.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Biogen in a research note on Monday, February 9th. Twelve research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $205.04.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 2,660 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $199.83, for a total transaction of $531,547.80. Following the sale, the insider directly owned 8,043 shares in the company, valued at $1,607,232.69. This represents a 24.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by insiders.

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.