Cresset Asset Management LLC Grows Stock Holdings in Biogen Inc. $BIIB

Cresset Asset Management LLC increased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 4.1% in the third quarter, HoldingsChannel.com reports. The firm owned 91,217 shares of the biotechnology company’s stock after acquiring an additional 3,567 shares during the quarter. Cresset Asset Management LLC’s holdings in Biogen were worth $12,778,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Elevation Point Wealth Partners LLC purchased a new position in shares of Biogen in the 2nd quarter valued at about $25,000. Rothschild Investment LLC boosted its holdings in Biogen by 64.7% in the second quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 88 shares in the last quarter. Accredited Wealth Management LLC increased its stake in Biogen by 1,233.3% in the third quarter. Accredited Wealth Management LLC now owns 200 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 185 shares during the last quarter. NewSquare Capital LLC grew its position in shares of Biogen by 134.6% in the 2nd quarter. NewSquare Capital LLC now owns 244 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 140 shares during the last quarter. Finally, WFA of San Diego LLC acquired a new stake in shares of Biogen during the second quarter worth about $32,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Trading Up 3.2%

NASDAQ BIIB opened at $189.94 on Thursday. The company has a quick ratio of 2.03, a current ratio of 2.68 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $27.88 billion, a P/E ratio of 21.56, a P/E/G ratio of 1.46 and a beta of 0.15. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $202.41. The firm has a 50-day moving average price of $182.70 and a 200 day moving average price of $164.58.

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

Analysts Set New Price Targets

BIIB has been the topic of a number of recent research reports. HC Wainwright lifted their target price on shares of Biogen from $194.00 to $228.00 and gave the company a “buy” rating in a report on Monday, February 9th. Wall Street Zen downgraded shares of Biogen from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Jefferies Financial Group upped their target price on shares of Biogen from $190.00 to $210.00 and gave the company a “buy” rating in a report on Friday, November 28th. Oppenheimer increased their target price on shares of Biogen from $205.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Finally, Wedbush boosted their price target on Biogen from $178.00 to $187.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Twelve investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat, Biogen presently has a consensus rating of “Hold” and an average price target of $205.04.

Insider Transactions at Biogen

In other Biogen news, insider Priya Singhal sold 2,660 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $199.83, for a total value of $531,547.80. Following the completion of the transaction, the insider owned 8,043 shares in the company, valued at approximately $1,607,232.69. This represents a 24.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

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.