SG Americas Securities LLC Trims Stock Position in Biogen Inc. $BIIB

SG Americas Securities LLC reduced its position in Biogen Inc. (NASDAQ:BIIB) by 96.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,470 shares of the biotechnology company’s stock after selling 684,723 shares during the period. SG Americas Securities LLC’s holdings in Biogen were worth $2,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity

In other Biogen news, insider Priya Singhal sold 517 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total transaction of $69,045.35. Following the sale, the insider owned 5,772 shares in the company, valued at approximately $770,850.60. This represents a 8.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is owned by company insiders.

Biogen Trading Up 2.5%

NASDAQ:BIIB opened at $168.83 on Wednesday. The company has a market capitalization of $24.77 billion, a PE ratio of 16.14, a P/E/G ratio of 1.17 and a beta of 0.10. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $170.78. The stock’s 50 day moving average price is $149.34 and its 200 day moving average price is $137.12. 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 issued its quarterly earnings results on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.92. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.34 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 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.08 EPS. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. On average, research analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Biogen in a research report on Wednesday, September 24th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Biogen in a research note on Thursday, November 13th. Sanford C. Bernstein increased their price objective on shares of Biogen from $155.00 to $157.00 and gave the company a “market perform” rating in a research report on Monday, November 3rd. Robert W. Baird reduced their price objective on shares of Biogen from $255.00 to $250.00 in a report on Friday, October 31st. Finally, Morgan Stanley boosted their target price on shares of Biogen from $144.00 to $149.00 and gave the stock an “equal weight” rating in a research note on Friday, October 10th. Ten investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Biogen has a consensus rating of “Hold” and an average price target of $177.46.

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.