Independent Financial Group LLC Makes New Investment in Biogen Inc. $BIIB

Independent Financial Group LLC purchased a new stake in Biogen Inc. (NASDAQ:BIIB) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,328 shares of the biotechnology company’s stock, valued at approximately $610,000.

A number of other hedge funds also recently made changes to their positions in BIIB. SG Americas Securities LLC lifted its holdings in Biogen by 1,793.8% in the fourth quarter. SG Americas Securities LLC now owns 183,829 shares of the biotechnology company’s stock valued at $32,352,000 after buying an additional 174,122 shares during the period. LSV Asset Management lifted its stake in shares of Biogen by 3.3% in the 4th quarter. LSV Asset Management now owns 316,815 shares of the biotechnology company’s stock valued at $55,756,000 after purchasing an additional 9,976 shares during the period. Catalyst Funds Management Pty Ltd bought a new stake in shares of Biogen during the 4th quarter valued at about $2,006,000. Systematic Financial Management LP grew its stake in Biogen by 256.3% during the fourth quarter. Systematic Financial Management LP now owns 16,640 shares of the biotechnology company’s stock worth $2,928,000 after purchasing an additional 11,970 shares during the period. Finally, Contrarius Group Holdings Ltd bought a new stake in Biogen in the fourth quarter worth approximately $11,431,000. 87.93% of the stock is currently owned by institutional investors.

Biogen Stock Down 2.7%

BIIB opened at $197.74 on Thursday. Biogen Inc. has a fifty-two week low of $124.56 and a fifty-two week high of $219.72. The firm has a market capitalization of $29.19 billion, a P/E ratio of 21.22 and a beta of 0.16. The company’s 50-day moving average is $199.41 and its 200 day moving average is $189.60. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.06 and a quick ratio of 2.41.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.95 by $0.62. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.29 billion. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Research analysts expect that Biogen Inc. will post 13.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. HC Wainwright reissued a “buy” rating on shares of Biogen in a research note on Thursday, May 14th. Rothschild & Co Redburn increased their price objective on shares of Biogen from $180.00 to $190.00 in a research report on Thursday, April 30th. JPMorgan Chase & Co. boosted their target price on Biogen from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, April 23rd. Morgan Stanley cut their price target on Biogen from $224.00 to $222.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 8th. Finally, Mizuho decreased their price objective on Biogen from $236.00 to $221.00 and set an “outperform” rating for the company in a report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $220.57.

About Biogen

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.