Optas LLC Takes $200,000 Position in Biogen Inc. $BIIB

Optas LLC acquired a new stake in Biogen Inc. (NASDAQ:BIIB) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 1,594 shares of the biotechnology company’s stock, valued at approximately $200,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in shares of Biogen during the 1st quarter worth about $26,000. Vision Financial Markets LLC bought a new stake in shares of Biogen during the 1st quarter worth about $27,000. Greykasell Wealth Strategies Inc. bought a new stake in shares of Biogen during the 1st quarter worth about $27,000. Zions Bancorporation National Association UT bought a new stake in shares of Biogen during the 1st quarter worth about $29,000. Finally, Private Trust Co. NA boosted its holdings in shares of Biogen by 74.8% during the 1st quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company’s stock worth $31,000 after buying an additional 98 shares during the period. Institutional investors own 87.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. HC Wainwright lifted their target price on shares of Biogen from $187.00 to $194.00 and gave the stock a “buy” rating in a report on Friday, August 1st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Biogen in a report on Wednesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a report on Wednesday, September 24th. William Blair reaffirmed an “outperform” rating on shares of Biogen in a report on Wednesday, September 24th. Finally, Jefferies Financial Group assumed coverage on shares of Biogen in a report on Thursday, September 25th. They issued a “buy” rating and a $190.00 price objective for the company. Eleven research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Biogen currently has a consensus rating of “Hold” and a consensus target price of $180.15.

Insider Activity at Biogen

In other news, insider Priya Singhal sold 517 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total value of $69,045.35. Following the completion of the transaction, the insider directly owned 5,772 shares in the company, valued at approximately $770,850.60. The trade was a 8.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $146.57 on Friday. The firm has a 50 day moving average of $140.21 and a 200-day moving average of $131.23. The stock has a market capitalization of $21.49 billion, a PE ratio of 14.01, a PEG ratio of 1.18 and a beta of 0.13. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $194.13.

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

About Biogen

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.