Insight Wealth Strategies LLC Has $7.20 Million Holdings in Biogen Inc. $BIIB

Key Points

• Insight Wealth Strategies increased its Biogen position by 16.9% in the second quarter, owning 34,320 shares valued at approximately $7.20 million. Institutional investors and hedge funds collectively own 87.93% of Biogen’s stock.
• Biogen reported quarterly EPS of $3.60, beating the $2.94 consensus estimate, while revenue reached $2.74 billion versus expectations of $2.46 billion; revenue rose 3.4% year over year.
• Analysts maintain a generally positive outlook, with Biogen carrying a “Moderate Buy” consensus rating and an average price target of $224.61, above its reported share price of $203.89.

Insight Wealth Strategies LLC grew its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 16.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,320 shares of the biotechnology company's stock after acquiring an additional 4,974 shares during the period. Insight Wealth Strategies LLC's holdings in Biogen were worth $7,198,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Rothschild Investment LLC lifted its stake in Biogen by 12.3% in the 4th quarter. Rothschild Investment LLC now owns 513 shares of the biotechnology company's stock valued at $90,000 after purchasing an additional 56 shares during the last quarter. Meeder Advisory Services Inc. increased its position in Biogen by 1.2% during the first quarter. Meeder Advisory Services Inc. now owns 4,721 shares of the biotechnology company's stock worth $866,000 after buying an additional 57 shares during the last quarter. Kera Capital Partners Inc. increased its position in Biogen by 3.5% during the first quarter. Kera Capital Partners Inc. now owns 1,723 shares of the biotechnology company's stock worth $316,000 after buying an additional 58 shares during the last quarter. Parallel Advisors LLC raised its stake in Biogen by 1.5% in the first quarter. Parallel Advisors LLC now owns 4,367 shares of the biotechnology company's stock valued at $801,000 after buying an additional 65 shares during the period. Finally, Itau Unibanco Holding S.A. raised its stake in Biogen by 24.4% in the fourth quarter. Itau Unibanco Holding S.A. now owns 337 shares of the biotechnology company's stock valued at $59,000 after buying an additional 66 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Price Performance

Biogen stock opened at $203.89 on Wednesday. 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 Inc. has a 52 week low of $128.25 and a 52 week high of $219.72. The stock has a market capitalization of $30.12 billion, a P/E ratio of 36.09, a price-to-earnings-growth ratio of 6.40 and a beta of 0.17. The stock has a fifty day moving average of $202.93 and a 200-day moving average of $192.46.

Biogen (NASDAQ:BIIB - Get Free Report) last released 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 firm had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.46 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%.The business's revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, sell-side analysts expect that Biogen Inc. will post 12.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BIIB shares. Needham & Company LLC lifted their target price on Biogen from $255.00 to $256.00 and gave the stock a "buy" rating in a research note on Monday, June 29th. Rothschild & Co Redburn increased their price target on Biogen from $180.00 to $190.00 in a research note on Thursday, April 30th. HSBC reaffirmed a "reduce" rating and set a $157.00 price target on shares of Biogen in a report on Monday, July 6th. Sanford C. Bernstein reduced their price objective on shares of Biogen from $201.00 to $200.00 in a research report on Thursday, April 30th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Biogen in a research report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Biogen currently has an average rating of "Moderate Buy" and a consensus target price of $224.61.

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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