Legacy Capital Group California Inc. Acquires New Stake in Biogen Inc. $BIIB

Legacy Capital Group California Inc. acquired a new stake in Biogen Inc. (NASDAQ:BIIB) during the first quarter, Holdings Channel reports. The fund acquired 2,901 shares of the biotechnology company’s stock, valued at approximately $532,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. 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 during 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 during the last quarter. Advisory Services Network LLC lifted its stake in Biogen by 3.9% in 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. Davis Investment Partners LLC boosted its holdings in shares of Biogen by 1.7% during the 4th quarter. Davis Investment Partners LLC now owns 4,374 shares of the biotechnology company’s stock worth $778,000 after purchasing an additional 71 shares during the last quarter. Finally, Optas LLC boosted its holdings in shares of Biogen by 4.5% during the 4th 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 last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

BIIB has been the subject of several recent research reports. Wall Street Zen raised Biogen from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. HSBC reissued a “reduce” rating and set a $157.00 price objective on shares of Biogen in a research note on Monday, July 6th. Mizuho dropped their target price on Biogen from $236.00 to $221.00 and set an “outperform” rating for the company in a report on Monday, June 15th. Sanford C. Bernstein cut their target price on Biogen from $201.00 to $200.00 in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. lifted their price target on Biogen from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $220.04.

Biogen Stock Performance

NASDAQ BIIB opened at $191.95 on Wednesday. The company has a market cap of $28.34 billion, a P/E ratio of 20.60 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 stock has a 50-day moving average of $198.70 and a two-hundred day moving average of $188.51. Biogen Inc. has a 1-year low of $121.05 and a 1-year high of $219.72.

Biogen (NASDAQ:BIIB) last issued 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. The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.29 billion. Biogen had a net margin of 13.81% and a return on equity of 12.83%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.02 earnings per share. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. As a group, analysts anticipate that Biogen Inc. will post 13.77 EPS for the current year.

Key Biogen News

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Biogen and Eisai won FDA approval for LEQEMBI IQLIK, expanding LEQEMBI into an at-home initiation option that could improve treatment convenience and support future sales. Article Title
• Positive Sentiment: Needham reiterated a Buy rating and a $256 price target, citing continued confidence in diranersen after the CELIA data presentation. Article Title

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.