Biogen Inc. $BIIB Shares Sold by Candriam S.C.A.

Candriam S.C.A. lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 12.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 163,315 shares of the biotechnology company’s stock after selling 23,465 shares during the period. Candriam S.C.A. owned 0.11% of Biogen worth $20,512,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vision Financial Markets LLC bought a new stake in Biogen during the 1st quarter valued at $27,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Biogen in the first quarter worth $27,000. Zions Bancorporation National Association UT acquired a new position in shares of Biogen during the first quarter valued at $29,000. Concord Wealth Partners increased its holdings in shares of 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 purchasing an additional 114 shares during the period. Finally, NewSquare Capital LLC raised its stake in shares of Biogen by 134.6% during the second quarter. NewSquare Capital LLC now owns 244 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 140 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BIIB has been the subject of a number of recent analyst reports. Mizuho increased their target price on shares of Biogen from $169.00 to $177.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. Robert W. Baird decreased their price objective on shares of Biogen from $255.00 to $250.00 in a report on Friday, October 31st. BMO Capital Markets boosted their target price on Biogen from $128.00 to $150.00 in a report on Friday, October 31st. William Blair restated an “outperform” rating on shares of Biogen in a research report on Wednesday, September 24th. Finally, Jefferies Financial Group assumed coverage on Biogen in a research note on Thursday, September 25th. They set a “buy” rating and a $190.00 price target for the company. Ten research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $177.46.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 517 shares of the firm’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 owned 5,772 shares of the company’s stock, valued at approximately $770,850.60. This trade represents a 8.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.18% of the company’s stock.

Biogen Trading Up 2.0%

NASDAQ:BIIB opened at $164.73 on Friday. The stock has a fifty day simple moving average of $147.83 and a 200 day simple moving average of $135.94. The firm has a market capitalization of $24.17 billion, a price-to-earnings ratio of 15.75, a price-to-earnings-growth ratio of 1.17 and a beta of 0.10. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $175.86. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36.

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