SummitTX Capital L.P. Purchases Shares of 21,656 Biogen Inc. $BIIB

SummitTX Capital L.P. purchased a new stake in Biogen Inc. (NASDAQ:BIIB) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 21,656 shares of the biotechnology company’s stock, valued at approximately $3,970,000.

Other large investors have also recently modified their holdings of the company. Orbimed Advisors LLC acquired a new stake in Biogen in the first quarter valued at approximately $11,293,000. OMERS ADMINISTRATION Corp boosted its position in shares of Biogen by 19.9% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 20,149 shares of the biotechnology company’s stock worth $3,694,000 after purchasing an additional 3,341 shares in the last quarter. Lombard Odier Asset Management Switzerland SA purchased a new position in Biogen during the 1st quarter worth $715,000. Waverly Advisors LLC increased its position in Biogen by 12.8% during the 1st quarter. Waverly Advisors LLC now owns 3,151 shares of the biotechnology company’s stock valued at $578,000 after buying an additional 358 shares in the last quarter. Finally, Morningstar Investment Management LLC increased its position in Biogen by 3.0% during the 1st quarter. Morningstar Investment Management LLC now owns 19,344 shares of the biotechnology company’s stock valued at $3,546,000 after buying an additional 565 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Biogen Stock Performance

Shares of NASDAQ BIIB opened at $200.14 on Tuesday. The company has a market capitalization of $29.55 billion, a PE ratio of 21.47 and a beta of 0.16. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.41 and a current ratio of 3.06. The company’s fifty day moving average price is $199.95 and its 200 day moving average price is $190.08. Biogen Inc. has a 1 year low of $124.56 and a 1 year high of $219.72.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share 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 net margin of 13.81% and a return on equity of 12.83%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.02 earnings per share. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS. On average, research analysts predict that Biogen Inc. will post 11.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BIIB. 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 issued a $157.00 price objective on shares of Biogen in a report on Monday, July 6th. HC Wainwright reaffirmed a “buy” rating on shares of Biogen in a report on Thursday, May 14th. Sanford C. Bernstein dropped their target price on Biogen from $201.00 to $200.00 in a research report on Thursday, April 30th. Finally, Citigroup increased their price target on shares of Biogen from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.57.

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.