Biogen Inc. $BIIB Shares Sold by First County Bank CT

First County Bank CT reduced its stake in Biogen Inc. (NASDAQ:BIIB) by 6.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,477 shares of the biotechnology company’s stock after selling 295 shares during the period. First County Bank CT’s holdings in Biogen were worth $562,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIIB. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Biogen by 6.5% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 416,960 shares of the biotechnology company’s stock valued at $57,057,000 after purchasing an additional 25,464 shares during the period. Asset Management One Co. Ltd. boosted its stake in Biogen by 5.5% during the first quarter. Asset Management One Co. Ltd. now owns 61,420 shares of the biotechnology company’s stock valued at $8,405,000 after buying an additional 3,194 shares in the last quarter. Point72 Europe London LLP bought a new position in Biogen during the first quarter valued at about $11,286,000. Motley Fool Asset Management LLC boosted its stake in Biogen by 64.7% during the first quarter. Motley Fool Asset Management LLC now owns 6,809 shares of the biotechnology company’s stock valued at $932,000 after buying an additional 2,676 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Biogen by 3.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 44,796 shares of the biotechnology company’s stock valued at $6,130,000 after acquiring an additional 1,336 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Insider Activity at Biogen

In related news, insider Rachid Izzar sold 2,223 shares of the firm’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total transaction of $300,105.00. Following the completion of the sale, the insider directly owned 6,330 shares in the company, valued at approximately $854,550. This trade represents a 25.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Priya Singhal sold 517 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total transaction of $69,045.35. Following the completion of the sale, the insider owned 5,772 shares of the company’s stock, valued at approximately $770,850.60. The trade was a 8.22% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Biogen Stock Up 1.3%

NASDAQ:BIIB opened at $137.37 on Monday. The firm has a market capitalization of $20.14 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 1.08 and a beta of 0.11. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $197.70. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36. The business’s fifty day moving average price is $135.97 and its 200 day moving average price is $130.47.

Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share for the quarter, beating the consensus estimate of $3.93 by $1.54. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the previous year, the business posted $5.28 EPS. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. On average, sell-side analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BIIB shares. Citigroup reissued a “neutral” rating on shares of Biogen in a report on Wednesday. William Blair restated an “outperform” rating on shares of Biogen in a research report on Wednesday, September 24th. HC Wainwright lifted their price target on shares of Biogen from $187.00 to $194.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Truist Financial assumed coverage on Biogen in a research note on Monday, July 21st. They set a “hold” rating and a $142.00 price objective for the company. Finally, Jefferies Financial Group started coverage on Biogen in a research note on Thursday. They set a “buy” rating and a $190.00 price objective for the company. Eleven investment analysts have rated the stock with a Buy rating and twenty have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $182.04.

Biogen Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer’s disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.