DekaBank Deutsche Girozentrale Trims Holdings in Biogen Inc. $BIIB

DekaBank Deutsche Girozentrale reduced its position in shares of Biogen Inc. (NASDAQ:BIIB) by 0.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 108,721 shares of the biotechnology company’s stock after selling 477 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Biogen were worth $13,681,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vision Financial Markets LLC acquired a new stake in Biogen in the first quarter worth $27,000. Greykasell Wealth Strategies Inc. acquired a new position in shares of Biogen during the first quarter valued at $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 grew its holdings in Biogen by 100.0% during the second quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 114 shares during the period. Finally, Private Trust Co. NA grew its holdings in Biogen by 74.8% during the first quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 98 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Biogen Price Performance

Biogen stock opened at $150.08 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $187.58. The firm has a market cap of $22.00 billion, a P/E ratio of 14.35, a P/E/G ratio of 1.17 and a beta of 0.13. The business’s fifty day moving average is $142.80 and its two-hundred day moving average is $132.03.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.93 by $1.54. The business 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 firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Equities research analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. HC Wainwright increased their price target on Biogen from $187.00 to $194.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Jefferies Financial Group assumed coverage on Biogen in a report on Thursday, September 25th. They set a “buy” rating and a $190.00 price target for the company. Piper Sandler lifted their price target on Biogen from $115.00 to $118.00 and gave the company a “neutral” rating in a report on Friday, September 12th. Royal Bank Of Canada reduced their target price on Biogen from $219.00 to $217.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Finally, Citigroup restated a “neutral” rating on shares of Biogen in a report on Wednesday, September 24th. Eleven research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $180.69.

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.