Jupiter Topco LLC Acquires Shares of 19,831 Biogen Inc. $BIIB

Jupiter Topco LLC bought a new position in Biogen Inc. (NASDAQ:BIIB) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 19,831 shares of the biotechnology company’s stock, valued at approximately $4,284,000.

Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Biogen during the 2nd quarter valued at $3,453,878,000. Primecap Management Co. CA purchased a new stake in Biogen in the 2nd quarter worth about $3,274,304,000. Norges Bank purchased a new stake in Biogen in the 4th quarter worth about $464,408,000. Boston Partners bought a new stake in Biogen in the 4th quarter valued at about $302,815,000. Finally, Legal & General Group Plc bought a new stake in Biogen in the 2nd quarter valued at about $322,640,000. 87.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on BIIB. Jefferies Financial Group reiterated a “buy” rating on shares of Biogen in a research note on Monday, July 13th. HC Wainwright upped their price target on shares of Biogen from $237.00 to $251.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Morgan Stanley raised their price target on Biogen from $222.00 to $231.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Mizuho boosted their price objective on shares of Biogen from $221.00 to $241.00 and gave the company an “outperform” rating in a research note on Tuesday, August 4th. Finally, Canaccord Genuity Group lifted their price target on Biogen from $245.00 to $248.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $227.79.

Biogen Price Performance

BIIB stock opened at $216.04 on Wednesday. The firm’s fifty day moving average is $208.52 and its 200 day moving average is $196.06. Biogen Inc. has a 52 week low of $133.53 and a 52 week high of $222.85. The firm has a market cap of $31.92 billion, a P/E ratio of 38.24, a P/E/G ratio of 2.40 and a beta of 0.17. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 1.87.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.66. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.46 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%.Biogen’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Research analysts predict that Biogen Inc. will post 12.39 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.