Contravisory Investment Management Inc. Makes New $8.19 Million Investment in Biogen Inc. $BIIB

Contravisory Investment Management Inc. bought a new stake in Biogen Inc. (NASDAQ:BIIB) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 44,677 shares of the biotechnology company’s stock, valued at approximately $8,191,000. Biogen makes up approximately 1.7% of Contravisory Investment Management Inc.’s investment portfolio, making the stock its 28th largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in BIIB. Empowered Funds LLC raised its position in shares of Biogen by 64.9% during the 1st quarter. Empowered Funds LLC now owns 7,054 shares of the biotechnology company’s stock valued at $965,000 after acquiring an additional 2,777 shares in the last quarter. Focus Partners Wealth boosted its holdings in Biogen by 172.2% in the first quarter. Focus Partners Wealth now owns 10,173 shares of the biotechnology company’s stock worth $1,392,000 after purchasing an additional 6,436 shares during the period. Sivia Capital Partners LLC bought a new stake in Biogen during the second quarter valued at $216,000. Cerity Partners LLC raised its stake in Biogen by 15.3% during the second quarter. Cerity Partners LLC now owns 46,552 shares of the biotechnology company’s stock worth $5,847,000 after acquiring an additional 6,184 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in Biogen by 13.4% in the second quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company’s stock worth $336,000 after acquiring an additional 316 shares during the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Trading Up 1.2%

Shares of NASDAQ:BIIB opened at $201.96 on Friday. The firm has a fifty day moving average price of $192.66 and a 200 day moving average price of $185.46. The company has a current ratio of 3.06, a quick ratio of 2.41 and a debt-to-equity ratio of 0.34. Biogen Inc. has a 1 year low of $121.05 and a 1 year high of $206.67. The stock has a market capitalization of $29.82 billion, a PE ratio of 21.67 and a beta of 0.20.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $2.29 billion. During the same period in the previous year, the company earned $3.02 EPS. The company’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. Analysts expect that Biogen Inc. will post 13.95 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on BIIB. JPMorgan Chase & Co. lifted their target price on Biogen from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, April 23rd. HSBC raised their target price on Biogen from $143.00 to $150.00 and gave the company a “reduce” rating in a research note on Tuesday, March 17th. Piper Sandler reiterated an “overweight” rating and issued a $225.00 price objective (up from $214.00) on shares of Biogen in a research report on Friday, May 15th. Oppenheimer boosted their target price on shares of Biogen from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Finally, Canaccord Genuity Group upped their price target on shares of Biogen from $230.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Biogen has a consensus rating of “Moderate Buy” and an average target price of $217.37.

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.