Independent Financial Group LLC Invests $610,000 in Biogen Inc. $BIIB

Independent Financial Group LLC purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,328 shares of the biotechnology company’s stock, valued at approximately $610,000.

Several other hedge funds and other institutional investors have also bought and sold shares of BIIB. Rothschild Investment LLC raised its position in shares of Biogen by 12.3% in the fourth quarter. Rothschild Investment LLC now owns 513 shares of the biotechnology company’s stock valued at $90,000 after buying an additional 56 shares in the last quarter. Itau Unibanco Holding S.A. raised its holdings in Biogen by 24.4% in the 4th quarter. Itau Unibanco Holding S.A. now owns 337 shares of the biotechnology company’s stock valued at $59,000 after acquiring an additional 66 shares in the last quarter. Advisory Services Network LLC grew its holdings in shares of Biogen by 3.9% during the 3rd quarter. Advisory Services Network LLC now owns 1,792 shares of the biotechnology company’s stock worth $251,000 after purchasing an additional 68 shares in the last quarter. Optas LLC increased its position in shares of Biogen by 4.5% in the fourth quarter. Optas LLC now owns 1,706 shares of the biotechnology company’s stock worth $300,000 after purchasing an additional 73 shares during the period. Finally, Parallel Advisors LLC raised its stake in Biogen by 1.9% in the fourth quarter. Parallel Advisors LLC now owns 4,302 shares of the biotechnology company’s stock valued at $757,000 after purchasing an additional 79 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BIIB shares. Sanford C. Bernstein cut their price objective on shares of Biogen from $201.00 to $200.00 in a research report on Thursday, April 30th. Morgan Stanley dropped their target price on shares of Biogen from $224.00 to $222.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. JPMorgan Chase & Co. upped their price target on shares of Biogen from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. Citigroup increased their price target on shares of Biogen from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Finally, Weiss Ratings raised shares of Biogen from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.57.

Biogen Price Performance

BIIB stock opened at $197.74 on Thursday. The stock has a market cap of $29.19 billion, a price-to-earnings ratio of 21.22 and a beta of 0.16. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.06 and a quick ratio of 2.41. The company has a 50 day simple moving average of $199.41 and a 200 day simple moving average of $189.60. Biogen Inc. has a 1 year low of $124.56 and a 1 year high of $219.72.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 EPS for the quarter, beating 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 firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period last year, the firm posted $3.02 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. Research analysts anticipate that Biogen Inc. will post 13.45 EPS 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.