SteelPeak Wealth LLC Makes New Investment in Biogen Inc. $BIIB

SteelPeak Wealth LLC acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,704 shares of the biotechnology company’s stock, valued at approximately $496,000.

Other hedge funds also recently modified their holdings of the company. Empowered Funds LLC grew its stake in Biogen by 64.9% in the first quarter. Empowered Funds LLC now owns 7,054 shares of the biotechnology company’s stock valued at $965,000 after purchasing an additional 2,777 shares in the last quarter. Focus Partners Wealth raised its stake in shares of Biogen by 172.2% during the 1st quarter. Focus Partners Wealth now owns 10,173 shares of the biotechnology company’s stock worth $1,392,000 after purchasing an additional 6,436 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Biogen during the 2nd quarter worth approximately $216,000. Cerity Partners LLC boosted its holdings in shares of Biogen by 15.3% in the 2nd quarter. Cerity Partners LLC now owns 46,552 shares of the biotechnology company’s stock valued at $5,847,000 after buying an additional 6,184 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Biogen by 13.4% in the 2nd quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company’s stock valued at $336,000 after buying an additional 316 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

BIIB has been the topic of a number of recent analyst reports. Oppenheimer boosted their target price on shares of Biogen from $275.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Canaccord Genuity Group increased their price target on shares of Biogen from $230.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. Citigroup lifted their price objective on shares of Biogen from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Rothschild & Co Redburn boosted their price objective on shares of Biogen from $180.00 to $190.00 in a research note on Thursday, April 30th. Finally, The Goldman Sachs Group upped their target price on shares of Biogen from $231.00 to $238.00 and gave the company a “buy” rating in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Biogen has a consensus rating of “Moderate Buy” and an average price target of $220.04.

Biogen Stock Down 1.4%

BIIB opened at $205.99 on Friday. Biogen Inc. has a 1-year low of $121.05 and a 1-year high of $219.72. The stock’s fifty day simple moving average is $199.43 and its 200 day simple moving average is $189.00. The company has a current ratio of 3.06, a quick ratio of 2.41 and a debt-to-equity ratio of 0.34. The stock has a market cap of $30.41 billion, a PE ratio of 22.10 and a beta of 0.16.

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