Brighton Jones LLC Purchases New Stake in Biogen Inc. $BIIB

Brighton Jones LLC purchased a new stake in shares of Biogen Inc. (NASDAQ:BIIB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,102 shares of the biotechnology company’s stock, valued at approximately $641,000.

Other large investors have also recently bought and sold shares of the company. Vision Financial Markets LLC acquired a new position in Biogen during the first quarter valued at $27,000. Greykasell Wealth Strategies Inc. acquired a new position in Biogen during the first quarter valued at $27,000. Zions Bancorporation National Association UT acquired a new position in Biogen during the first quarter valued at $29,000. Concord Wealth Partners raised its position in Biogen by 100.0% during the second quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 114 shares during the period. Finally, Private Trust Co. NA raised its position in Biogen by 74.8% during the first quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 98 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Biogen

In related news, insider Priya Singhal sold 517 shares of the business’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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $149.13 on Wednesday. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $187.28. The business has a 50-day moving average of $143.53 and a two-hundred day moving average of $132.94. The stock has a market capitalization of $21.87 billion, a P/E ratio of 14.26, a P/E/G ratio of 1.19 and a beta of 0.13. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data 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. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the previous year, the firm earned $5.28 EPS. The firm’s revenue was up 7.3% compared to the same quarter last year. 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.

Analysts Set New Price Targets

A number of brokerages have commented on BIIB. HC Wainwright boosted their target price on Biogen from $187.00 to $194.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Morgan Stanley boosted their target price on Biogen from $144.00 to $149.00 and gave the company an “equal weight” rating in a research note on Friday, October 10th. Rothschild & Co Redburn boosted their target price on Biogen from $149.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Wedbush boosted their target price on Biogen from $129.00 to $135.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Finally, Jefferies Financial Group began coverage on Biogen in a research note on Thursday, September 25th. They issued a “buy” rating and a $190.00 target price on the stock. Eleven analysts have rated the stock with a Buy rating and twenty have issued a Hold rating to the stock. Based on data from MarketBeat, the company 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.