ProShare Advisors LLC Purchases 13,903 Shares of Biogen Inc. $BIIB

ProShare Advisors LLC lifted its position in shares of Biogen Inc. (NASDAQ:BIIB) by 6.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 238,558 shares of the biotechnology company’s stock after acquiring an additional 13,903 shares during the quarter. ProShare Advisors LLC’s holdings in Biogen were worth $29,960,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BIIB. Vision Financial Markets LLC bought a new position in Biogen in the first quarter valued at about $27,000. Greykasell Wealth Strategies Inc. acquired a new position in shares of Biogen in the first quarter valued at approximately $27,000. Zions Bancorporation National Association UT bought a new position in Biogen in the 1st quarter valued at approximately $29,000. Concord Wealth Partners raised its holdings in Biogen by 100.0% in the 2nd 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 last quarter. Finally, NewSquare Capital LLC boosted its position in Biogen by 134.6% during the 2nd quarter. NewSquare Capital LLC now owns 244 shares of the biotechnology company’s stock worth $31,000 after buying an additional 140 shares during the period. Institutional investors own 87.93% of the company’s stock.

Biogen Trading Up 2.1%

Shares of BIIB stock opened at $159.56 on Wednesday. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $175.86. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50. The stock has a 50 day simple moving average of $146.93 and a two-hundred day simple moving average of $135.56. The company has a market cap of $23.41 billion, a P/E ratio of 15.25, a PEG ratio of 1.17 and a beta of 0.10.

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BIIB. BMO Capital Markets upped their price target on shares of Biogen from $128.00 to $150.00 in a research report on Friday, October 31st. Needham & Company LLC restated a “hold” rating on shares of Biogen in a report on Wednesday, September 24th. Citigroup reaffirmed a “neutral” rating on shares of Biogen in a research report on Wednesday, September 24th. Truist Financial started coverage on Biogen in a research report on Monday, July 21st. They issued a “hold” rating and a $142.00 price target on the stock. Finally, Weiss Ratings cut Biogen from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. Ten investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Biogen has a consensus rating of “Hold” and a consensus target price of $177.46.

Insiders Place Their Bets

In other Biogen news, insider Priya Singhal sold 517 shares of Biogen stock in a transaction 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 sale, the insider directly owned 5,772 shares of the company’s stock, valued at approximately $770,850.60. The trade was a 8.22% decrease in their ownership of the stock. 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.

About Biogen

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.