Abacus Wealth Partners LLC Takes Position in Biogen Inc. $BIIB

Abacus Wealth Partners LLC bought a new stake in shares of Biogen Inc. (NASDAQ:BIIB) during the 4th quarter, Holdings Channel reports. The fund bought 8,768 shares of the biotechnology company’s stock, valued at approximately $1,543,000.

Several other hedge funds have also recently made changes to their positions in the business. Convergence Investment Partners LLC bought a new stake in shares of Biogen in the 3rd quarter worth about $1,342,000. Caprock Group LLC bought a new stake in shares of Biogen in the 3rd quarter worth about $742,000. Leuthold Group LLC bought a new stake in shares of Biogen in the 3rd quarter worth about $3,294,000. Generali Investments Management Co LLC lifted its holdings in shares of Biogen by 408.2% in the 3rd quarter. Generali Investments Management Co LLC now owns 9,970 shares of the biotechnology company’s stock worth $1,397,000 after acquiring an additional 8,008 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Biogen by 9.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 67,010 shares of the biotechnology company’s stock worth $9,387,000 after acquiring an additional 5,987 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

More Biogen News

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets raised their target price on shares of Biogen from $165.00 to $196.00 and gave the stock a “market perform” rating in a report on Friday, February 6th. Royal Bank Of Canada boosted their target price on shares of Biogen from $213.00 to $222.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. Guggenheim boosted their target price on shares of Biogen from $246.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Citigroup boosted their target price on shares of Biogen from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Finally, Sanford C. Bernstein lowered their target price on shares of Biogen from $201.00 to $200.00 in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $215.62.

Biogen Price Performance

BIIB opened at $192.95 on Friday. Biogen Inc. has a 12-month low of $121.05 and a 12-month high of $205.97. The company has a current ratio of 3.06, a quick ratio of 2.41 and a debt-to-equity ratio of 0.34. The business’s fifty day simple moving average is $185.21 and its 200-day simple moving average is $179.33. The company has a market capitalization of $28.49 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 1.70 and a beta of 0.19.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.95 by $0.62. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the prior year, the company earned $3.02 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. On average, equities research analysts anticipate that Biogen Inc. will post 14.21 earnings per share for the current fiscal 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.