Metis Global Partners LLC Decreases Stock Position in Biogen Inc. $BIIB

Metis Global Partners LLC cut its holdings in Biogen Inc. (NASDAQ:BIIB) by 37.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,647 shares of the biotechnology company’s stock after selling 4,005 shares during the quarter. Metis Global Partners LLC’s holdings in Biogen were worth $835,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Biogen by 1.7% in the first quarter. Vanguard Group Inc. now owns 17,032,839 shares of the biotechnology company’s stock valued at $2,330,774,000 after buying an additional 283,964 shares during the period. Invesco Ltd. grew its stake in Biogen by 6.4% during the 1st quarter. Invesco Ltd. now owns 2,265,007 shares of the biotechnology company’s stock worth $309,944,000 after buying an additional 136,200 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Biogen by 153.6% in the first quarter. AQR Capital Management LLC now owns 1,368,842 shares of the biotechnology company’s stock valued at $187,258,000 after purchasing an additional 829,150 shares during the period. Amundi raised its stake in shares of Biogen by 8.1% during the first quarter. Amundi now owns 1,315,947 shares of the biotechnology company’s stock valued at $172,007,000 after purchasing an additional 98,957 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Biogen by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,019,219 shares of the biotechnology company’s stock valued at $139,470,000 after purchasing an additional 47,956 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BIIB has been the topic of several recent research reports. Sanford C. Bernstein lifted their price target on shares of Biogen from $155.00 to $157.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. Needham & Company LLC restated a “hold” rating on shares of Biogen in a report on Wednesday, September 24th. Stifel Nicolaus raised Biogen from a “hold” rating to a “buy” rating and upped their target price for the stock from $144.00 to $202.00 in a research report on Thursday, November 6th. Rothschild & Co Redburn lifted their price objective on shares of Biogen from $149.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Finally, Tudor Pickering set a $157.00 price target on shares of Biogen in a research report on Monday, November 3rd. Ten research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $177.46.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 517 shares of Biogen stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total transaction of $69,045.35. Following the completion of the transaction, the insider directly owned 5,772 shares of the company’s stock, valued at $770,850.60. This trade represents a 8.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by corporate insiders.

Biogen Trading Up 2.1%

Shares of Biogen stock opened at $159.56 on Wednesday. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $175.86. 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 firm has a market capitalization of $23.41 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 1.17 and a beta of 0.10. The company’s fifty day moving average price is $146.93 and its two-hundred day moving average price is $135.56.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.92. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.34 billion. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $4.08 earnings per share. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. On average, analysts expect that Biogen Inc. will post 15.83 EPS for the current year.

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.