Empowered Funds LLC Takes $4.74 Million Position in Biogen Inc. $BIIB

Key Points

• Empowered Funds LLC acquired 21,948 Biogen shares in the second quarter, establishing a position worth approximately $4.74 million. Institutional investors collectively own 87.93% of Biogen.
• Biogen reported quarterly earnings of $3.60 per share on $2.74 billion in revenue, beating analyst estimates, while revenue increased 3.4% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $227.79; several firms recently raised their targets to between $225 and $280.

Empowered Funds LLC purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 21,948 shares of the biotechnology company's stock, valued at approximately $4,742,000.

A number of other institutional investors have also recently bought and sold shares of BIIB. Bell Investment Advisors Inc acquired a new stake in shares of Biogen in the second quarter valued at approximately $27,000. Reflection Asset Management bought a new position in Biogen during the 4th quarter worth $25,000. Root Financial Partners LLC raised its holdings in Biogen by 198.4% in the 4th quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company's stock valued at $33,000 after acquiring an additional 123 shares in the last quarter. MV Capital Management Inc. bought a new stake in shares of Biogen during the 4th quarter valued at $34,000. Finally, Strive Financial Group LLC acquired a new stake in shares of Biogen during the 4th quarter worth $35,000. Institutional investors own 87.93% of the company's stock.

Biogen Price Performance

BIIB stock opened at $216.65 on Tuesday. The stock has a market cap of $32.01 billion, a price-to-earnings ratio of 38.35, a P/E/G ratio of 6.81 and a beta of 0.17. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.87 and a quick ratio of 1.26. The company has a 50 day simple moving average of $208.15 and a 200 day simple moving average of $195.89. Biogen Inc. has a 1 year low of $131.52 and a 1 year high of $222.85.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, beating analysts' consensus estimates of $2.94 by $0.66. The firm 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%. The company's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Research analysts anticipate that Biogen Inc. will post 12.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BIIB has been the subject of a number of analyst reports. Mizuho boosted their price target on Biogen from $221.00 to $241.00 and gave the company an "outperform" rating in a research note on Tuesday, August 4th. Royal Bank Of Canada raised their target price on shares of Biogen from $240.00 to $260.00 and gave the company an "outperform" rating in a report on Tuesday, August 25th. TD Cowen upped their price target on shares of Biogen from $215.00 to $225.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Guggenheim lifted their price objective on shares of Biogen from $260.00 to $280.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Finally, Wall Street Zen downgraded shares of Biogen from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $227.79.

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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