Turtle Creek Wealth Advisors LLC Purchases 7,409 Shares of Biogen Inc. $BIIB

Turtle Creek Wealth Advisors LLC lifted its position in shares of Biogen Inc. (NASDAQ:BIIB) by 463.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,008 shares of the biotechnology company’s stock after acquiring an additional 7,409 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Biogen were worth $2,035,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Biogen in the second quarter valued at approximately $3,453,878,000. Primecap Management Co. CA purchased a new stake in shares of Biogen during the 2nd quarter valued at approximately $3,274,304,000. Wellington Management Group LLP lifted its stake in shares of Biogen by 5.3% during the 2nd quarter. Wellington Management Group LLP now owns 3,117,469 shares of the biotechnology company’s stock valued at $673,560,000 after buying an additional 155,828 shares in the last quarter. Amundi boosted its holdings in Biogen by 91.8% in the 2nd quarter. Amundi now owns 1,516,831 shares of the biotechnology company’s stock worth $327,727,000 after buying an additional 726,004 shares during the period. Finally, Legal & General Group Plc bought a new position in Biogen in the 2nd quarter worth approximately $322,640,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Price Performance

Biogen stock traded up $5.56 during midday trading on Thursday, reaching $238.39. 819,121 shares of the stock were exchanged, compared to its average volume of 1,202,329. The company’s fifty day moving average is $218.89 and its 200-day moving average is $203.29. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 1.87. The firm has a market cap of $35.22 billion, a PE ratio of 42.16, a PEG ratio of 2.53 and a beta of 0.09. Biogen Inc. has a 52 week low of $138.00 and a 52 week high of $240.99.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 EPS for the quarter, beating the consensus estimate of $2.94 by $0.66. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the firm earned $5.47 EPS. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, sell-side analysts forecast that Biogen Inc. will post 12.41 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Mizuho boosted their target price on shares of Biogen from $221.00 to $241.00 and gave the company an “outperform” rating in a report on Tuesday, August 4th. Wall Street Zen lowered Biogen from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biogen in a report on Monday, June 22nd. JPMorgan Chase & Co. upgraded Biogen from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $210.00 to $300.00 in a research report on Monday. Finally, Morgan Stanley increased their price objective on Biogen from $222.00 to $231.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Biogen has an average rating of “Moderate Buy” and an average target price of $236.04.

Biogen Profile

Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for serious neurological and neurodegenerative diseases. Its research focuses on conditions including multiple sclerosis, spinal muscular atrophy, Alzheimer’s disease, amyotrophic lateral sclerosis and rare neuromuscular disorders.

Biogen’s products include Spinraza (nusinersen) for spinal muscular atrophy, Tysabri (natalizumab) and Tecfidera (dimethyl fumarate) for multiple sclerosis, Qalsody (tofersen) for a genetically defined form of ALS, and Skyclarys (omaveloxolone) for Friedreich’s ataxia.