Freedom Investment Management Inc. Has $395,000 Stake in Biogen Inc. $BIIB

Freedom Investment Management Inc. boosted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 9.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,144 shares of the biotechnology company’s stock after purchasing an additional 281 shares during the period. Freedom Investment Management Inc.’s holdings in Biogen were worth $395,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BIIB. GAMMA Investing LLC increased its stake in shares of Biogen by 367.8% in the 1st quarter. GAMMA Investing LLC now owns 1,862 shares of the biotechnology company’s stock valued at $255,000 after buying an additional 1,464 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of Biogen by 11.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,828 shares of the biotechnology company’s stock valued at $524,000 after buying an additional 389 shares during the period. Bessemer Group Inc. increased its stake in shares of Biogen by 31.6% in the 1st quarter. Bessemer Group Inc. now owns 3,037 shares of the biotechnology company’s stock valued at $415,000 after buying an additional 729 shares during the period. Golden State Wealth Management LLC increased its stake in shares of Biogen by 117.7% in the 1st quarter. Golden State Wealth Management LLC now owns 577 shares of the biotechnology company’s stock valued at $79,000 after buying an additional 312 shares during the period. Finally, Perpetual Ltd acquired a new stake in shares of Biogen in the 1st quarter valued at $246,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BIIB shares. William Blair reissued an “outperform” rating on shares of Biogen in a research note on Wednesday, September 24th. Wall Street Zen upgraded Biogen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, September 28th. Weiss Ratings upgraded Biogen from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday. Citigroup restated a “neutral” rating on shares of Biogen in a research report on Wednesday, September 24th. Finally, Truist Financial assumed coverage on Biogen in a research report on Monday, July 21st. They issued a “hold” rating and a $142.00 price target on the stock. Eleven research analysts have rated the stock with a Buy rating and twenty have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $180.69.

Insiders Place Their Bets

In other Biogen news, insider Priya Singhal sold 517 shares of Biogen stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total transaction of $69,045.35. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.18% of the company’s stock.

Biogen Stock Performance

BIIB stock opened at $149.89 on Monday. The business’s 50-day moving average price is $143.03 and its two-hundred day moving average price is $132.48. 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 firm has a market cap of $21.98 billion, a PE ratio of 14.33, a P/E/G ratio of 1.19 and a beta of 0.13. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $187.58.

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

Biogen Company 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.