21,656 Shares in Biogen Inc. $BIIB Purchased by SummitTX Capital L.P.

SummitTX Capital L.P. acquired a new position in Biogen Inc. (NASDAQ:BIIB) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 21,656 shares of the biotechnology company’s stock, valued at approximately $3,970,000.

A number of other hedge funds have also made changes to their positions in the company. Reflection Asset Management purchased a new stake in shares of Biogen during the fourth quarter worth approximately $25,000. WPG Advisers LLC grew its holdings in shares of Biogen by 417.9% during the fourth quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company’s stock worth $26,000 after buying an additional 117 shares in the last quarter. First Horizon Corp acquired a new stake in shares of Biogen in the fourth quarter valued at about $30,000. WFA of San Diego LLC purchased a new position in shares of Biogen in the second quarter worth about $32,000. Finally, Root Financial Partners LLC boosted its position in Biogen by 198.4% during the fourth quarter. Root Financial Partners LLC now owns 185 shares of the biotechnology company’s stock worth $33,000 after acquiring an additional 123 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on BIIB. HC Wainwright reiterated a “buy” rating on shares of Biogen in a report on Thursday, May 14th. The Goldman Sachs Group lifted their price objective on Biogen from $231.00 to $238.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Wedbush reissued a “neutral” rating and set a $201.00 price objective on shares of Biogen in a research note on Monday, July 13th. Needham & Company LLC raised 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. Finally, Piper Sandler reissued an “overweight” rating on shares of Biogen in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Biogen has a consensus rating of “Moderate Buy” and a consensus price target of $220.57.

Biogen Price Performance

BIIB stock opened at $200.14 on Tuesday. 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 company has a market capitalization of $29.55 billion, a PE ratio of 21.47 and a beta of 0.16. Biogen Inc. has a 12-month low of $124.56 and a 12-month high of $219.72. The business’s fifty day moving average price is $199.95 and its 200 day moving average price is $190.08.

Biogen (NASDAQ:BIIB) last announced its 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. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Biogen had a return on equity of 12.83% and a net margin of 13.81%.Biogen’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the business posted $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. On average, sell-side analysts anticipate that Biogen Inc. will post 11.29 EPS for the current 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.