Insight Wealth Strategies LLC Buys Shares of 28,960 Biogen Inc. $BIIB

Insight Wealth Strategies LLC purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 28,960 shares of the biotechnology company’s stock, valued at approximately $5,097,000.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Biogen by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 17,290,651 shares of the biotechnology company’s stock worth $2,171,533,000 after purchasing an additional 257,812 shares in the last quarter. State Street Corp lifted its position in Biogen by 1.0% during the second quarter. State Street Corp now owns 7,468,807 shares of the biotechnology company’s stock valued at $938,007,000 after purchasing an additional 71,897 shares in the last quarter. Invesco Ltd. lifted its position in Biogen by 4.2% during the third quarter. Invesco Ltd. now owns 2,418,127 shares of the biotechnology company’s stock valued at $338,731,000 after purchasing an additional 98,001 shares in the last quarter. Norges Bank bought a new stake in Biogen during the second quarter valued at about $284,358,000. Finally, AQR Capital Management LLC grew its holdings in Biogen by 30.7% during the third quarter. AQR Capital Management LLC now owns 1,783,581 shares of the biotechnology company’s stock valued at $248,809,000 after purchasing an additional 418,776 shares during the period. Institutional investors own 87.93% of the company’s stock.

Insider Activity

In other news, insider Priya Singhal sold 2,660 shares of the company’s 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 of the company’s stock, valued at $1,607,232.69. This represents a 24.85% decrease in their position. The sale 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 company insiders.

Analyst Ratings Changes

BIIB has been the subject of a number of analyst reports. Canaccord Genuity Group upped their price target on Biogen from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Oppenheimer boosted their price objective on Biogen from $205.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Wolfe Research set a $231.00 price objective on Biogen in a research note on Monday, February 9th. The Goldman Sachs Group reissued a “buy” rating on shares of Biogen in a report on Monday, February 9th. Finally, Tudor Pickering set a $201.00 target price on shares of Biogen in a research note on Monday, February 9th. Twelve analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $205.31.

Biogen Trading Down 1.6%

Shares of BIIB stock opened at $182.31 on Thursday. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $202.41. The company has a current ratio of 2.68, a quick ratio of 2.03 and a debt-to-equity ratio of 0.34. The stock’s 50-day moving average price is $184.23 and its 200-day moving average price is $168.02. The stock has a market capitalization of $26.76 billion, a price-to-earnings ratio of 20.69, a price-to-earnings-growth ratio of 1.47 and a beta of 0.15.

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

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.