Apollon Wealth Management LLC Buys 40,607 Shares of Biogen Inc. $BIIB

Key Points

• Apollon Wealth Management increased its Biogen stake by 1,837.4%, purchasing 40,607 additional shares and ending the quarter with 42,817 shares valued at approximately $9.67 million.
• Institutional ownership remains high at 87.93%, with major investors including BlackRock, Primecap Management, Legal & General, Bank of America, and Deutsche Bank adding or initiating positions.
• Analyst sentiment is positive, with Biogen receiving a consensus “Moderate Buy” rating and an average price target of $241.89; the company also beat quarterly earnings and revenue expectations.

Apollon Wealth Management LLC boosted its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 1,837.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,817 shares of the biotechnology company's stock after buying an additional 40,607 shares during the quarter. Apollon Wealth Management LLC's holdings in Biogen were worth $9,672,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Biogen during the second quarter valued at $3,453,878,000. Primecap Management Co. CA purchased a new position in Biogen in the second quarter valued at about $3,274,304,000. Legal & General Group Plc acquired a new position in Biogen in the 2nd quarter worth about $322,640,000. Bank of America Corp DE acquired a new position in Biogen in the 2nd quarter worth about $241,172,000. Finally, Deutsche Bank AG acquired a new position in Biogen in the 2nd quarter worth about $193,165,000. Institutional investors and hedge funds own 87.93% of the company's stock.

Analyst Ratings Changes

BIIB has been the subject of a number of analyst reports. UBS Group lifted their target price on shares of Biogen from $240.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, October 9th. Zacks Research upgraded shares of Biogen from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 28th. Weiss Ratings raised shares of Biogen from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, September 24th. Wedbush lifted their price objective on shares of Biogen from $201.00 to $215.00 and gave the company a "neutral" rating in a research note on Thursday, July 30th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $300.00 price objective on shares of Biogen in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Biogen has a consensus rating of "Moderate Buy" and a consensus price target of $241.89.

Biogen Price Performance

Shares of Biogen stock opened at $252.26 on Tuesday. The firm has a fifty day simple moving average of $223.38 and a 200-day simple moving average of $199.43. The company has a current ratio of 1.87, a quick ratio of 1.26 and a debt-to-equity ratio of 0.39. Biogen Inc. has a 1-year low of $138.00 and a 1-year high of $254.41. The stock has a market capitalization of $37.27 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 2.99 and a beta of 0.09.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 8.32% and a return on equity of 11.18%. Biogen's revenue was up 3.4% compared to the same quarter last year. During the same period last year, the business posted $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, sell-side analysts expect that Biogen Inc. will post 12.29 earnings per share for the current year.

Biogen Company Profile

Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for neurological and neurodegenerative diseases. Its areas of focus include multiple sclerosis, Alzheimer's disease, spinal muscular atrophy, amyotrophic lateral sclerosis and other serious medical conditions.

The company's portfolio includes multiple sclerosis treatments such as Tecfidera, Vumerity, Tysabri, Plegridy and Avonex, as well as Spinraza for spinal muscular atrophy. Biogen also markets Leqembi, an Alzheimer's disease treatment developed in collaboration with Eisai, and works with partners to advance additional therapies and biosimilars.

Biogen was founded in 1978 and is headquartered in Cambridge, Massachusetts.

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