Biogen Inc. $BIIB Shares Purchased by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC increased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 19.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,311 shares of the biotechnology company’s stock after purchasing an additional 1,010 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in Biogen were worth $793,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Generali Investments CEE investicni spolecnost a.s. raised its position in shares of Biogen by 43.2% during the 2nd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 38,755 shares of the biotechnology company’s stock worth $4,867,000 after purchasing an additional 11,695 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Biogen by 6.5% in 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 acquiring an additional 25,464 shares during the last quarter. Nordea Investment Management AB raised its holdings in Biogen by 5.7% in the 2nd quarter. Nordea Investment Management AB now owns 125,935 shares of the biotechnology company’s stock valued at $15,810,000 after acquiring an additional 6,811 shares during the last quarter. Privium Fund Management B.V. acquired a new position in Biogen in the 2nd quarter valued at $2,666,000. Finally, Point72 Europe London LLP acquired a new position in Biogen in the 1st quarter valued at $11,286,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Down 0.9%

Shares of Biogen stock opened at $149.13 on Wednesday. The business has a 50-day moving average of $143.53 and a 200-day moving average of $132.94. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79. The company has a market capitalization of $21.87 billion, a PE ratio of 14.26, 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 $187.28.

Biogen (NASDAQ:BIIB) last announced 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. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.32 billion. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The company’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm earned $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. As a group, equities analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 517 shares of the firm’s 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 completion of the sale, the insider directly owned 5,772 shares in the company, valued at $770,850.60. This trade represents a 8.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Morgan Stanley boosted their price target on Biogen from $144.00 to $149.00 and gave the company an “equal weight” rating in a report on Friday, October 10th. Wall Street Zen upgraded Biogen from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 28th. Needham & Company LLC reissued a “hold” rating on shares of Biogen in a research note on Wednesday, September 24th. Piper Sandler upped their price objective on Biogen from $115.00 to $118.00 and gave the stock a “neutral” rating in a report on Friday, September 12th. Finally, Truist Financial began coverage on Biogen in a report on Monday, July 21st. They set a “hold” rating and a $142.00 price objective for the company. Eleven analysts have rated the stock with a Buy rating and twenty have given a Hold rating to the stock. Based on data from MarketBeat, Biogen currently has an average rating of “Hold” and an average price target of $180.69.

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.