Abacus Wealth Partners LLC Acquires Shares of 8,768 Biogen Inc. $BIIB

Key Points

• Abacus Wealth Partners disclosed a new stake in Biogen during the fourth quarter, buying 8,768 shares valued at about $1.54 million.
• Biogen reported strong quarterly results, with EPS of $3.57 topping estimates and revenue of $2.48 billion also beating expectations. The company also raised FY 2026 guidance to $14.25-$15.25 EPS.
• Analysts remain generally positive, with several lifting price targets and the stock carrying a Moderate Buy consensus and average target price of $215.62. Recent updates around its Alzheimer’s pipeline and other business developments are helping support sentiment, though some caution remains.

Abacus Wealth Partners LLC acquired a new stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,768 shares of the biotechnology company's stock, valued at approximately $1,543,000.

Several other institutional investors have also added to or reduced their stakes in the business. Empowered Funds LLC raised its stake in shares of Biogen by 64.9% during the 1st 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 during the period. 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 valued at $1,392,000 after purchasing an additional 6,436 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Biogen during the 2nd quarter valued at $216,000. Cerity Partners LLC raised its stake in shares of Biogen by 15.3% during the 2nd quarter. Cerity Partners LLC now owns 46,552 shares of the biotechnology company's stock valued at $5,847,000 after purchasing an additional 6,184 shares during the period. Finally, NewEdge Advisors LLC raised its stake in shares of Biogen by 13.4% during the 2nd quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company's stock valued at $336,000 after purchasing an additional 316 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Stock Performance

NASDAQ BIIB opened at $192.95 on Friday. Biogen Inc. has a 52-week low of $121.05 and a 52-week high of $205.97. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.41 and a current ratio of 3.06. The company has a market capitalization of $28.49 billion, a P/E ratio of 20.70, a P/E/G ratio of 1.70 and a beta of 0.19. The company has a fifty day moving average of $185.21 and a 200-day moving average of $179.33.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.48 billion during the quarter, compared to analysts' expectations of $2.29 billion. During the same quarter in the prior year, the company earned $3.02 EPS. The firm's revenue was up 1.9% on a year-over-year basis. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. As a group, equities research analysts predict that Biogen Inc. will post 14.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Royal Bank Of Canada increased their price objective on Biogen from $213.00 to $222.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. Piper Sandler reiterated an "overweight" rating and issued a $225.00 price objective (up from $214.00) on shares of Biogen in a research report on Friday. Barclays assumed coverage on Biogen in a research report on Thursday, February 19th. They issued an "equal weight" rating and a $185.00 price objective on the stock. Truist Financial lowered their price objective on Biogen from $193.00 to $189.00 and set a "hold" rating on the stock in a research report on Monday, April 13th. Finally, Mizuho increased their price objective on Biogen from $207.00 to $236.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $215.62.

Key Stories Impacting Biogen

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Biogen said its Phase 2 CELIA study of diranersen (BIIB080), a tau-targeting Alzheimer’s drug, showed robust reductions in tau pathology and signals of slowed cognitive decline, prompting the company to advance the program into late-stage development. Topline Results from Phase 2 CELIA Study of Diranersen (BIIB080): First Study to Show Reduction in Tau Pathology and Cognitive Benefit in Patients with Early Alzheimer’s Disease
• Positive Sentiment: Goldman Sachs reiterated a Buy rating and lifted its price target to $250, while Oppenheimer raised its target to $300 and Evercore initiated coverage with an Outperform rating, reinforcing optimism around Biogen’s valuation and pipeline. Goldman’s Richter Reiterates Buy on Biogen as Leqembi Outperforms and Price Target Rises from $238 to $250 Oppenheimer raises Biogen price target to $300 from $275, maintains Outperform rating
• Positive Sentiment: Biogen completed its $5.3 billion acquisition of Apellis Pharmaceuticals, adding commercial products SYFOVRE and EMPAVELI and potentially improving near-term growth prospects. Biogen Completes Acquisition of Apellis Pharmaceuticals
• Neutral Sentiment: Some analysts remain cautious, saying mixed Alzheimer’s data and pipeline uncertainty still create a balanced risk/reward profile despite the recent rally. Biogen: Hold Rating Reiterated as Pipeline Concerns Offset Leqembi Growth; $196 Price Target Maintained
• Negative Sentiment: The CELIA study missed its primary endpoint, and a law firm has already announced an investigation into possible securities-law issues tied to the stock’s move after the data release, which could add headline risk. Investigation Alert: Biogen Inc. (BIIB) Under Scrutiny - Contact Levi & Korsinsky for Details

Biogen Company 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.

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