Banque Pictet & Cie SA Acquires 3,751 Shares of Biogen Inc. $BIIB

Banque Pictet & Cie SA lifted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 5.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 72,025 shares of the biotechnology company’s stock after acquiring an additional 3,751 shares during the period. Banque Pictet & Cie SA’s holdings in Biogen were worth $9,046,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Biogen by 6.5% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 416,960 shares of the biotechnology company’s stock worth $57,057,000 after purchasing an additional 25,464 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in Biogen by 5.5% during the first quarter. Asset Management One Co. Ltd. now owns 61,420 shares of the biotechnology company’s stock worth $8,405,000 after purchasing an additional 3,194 shares during the last quarter. Point72 Europe London LLP purchased a new position in Biogen during the first quarter worth about $11,286,000. Motley Fool Asset Management LLC boosted its holdings in Biogen by 64.7% during the first quarter. Motley Fool Asset Management LLC now owns 6,809 shares of the biotechnology company’s stock worth $932,000 after purchasing an additional 2,676 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Biogen by 3.1% during the first quarter. Assenagon Asset Management S.A. now owns 44,796 shares of the biotechnology company’s stock worth $6,130,000 after purchasing an additional 1,336 shares during the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Stock Performance

Shares of BIIB stock opened at $135.67 on Friday. The stock has a market capitalization of $19.89 billion, a P/E ratio of 12.97, a PEG ratio of 1.09 and a beta of 0.11. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36. The firm’s 50 day moving average is $135.72 and its 200 day moving average is $130.65. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $197.70.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, beating analysts’ consensus estimates of $3.93 by $1.54. The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Biogen had a net margin of 15.31% and a return on equity of 13.85%. Biogen’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company posted $5.28 EPS. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. On average, sell-side analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

Wall Street Analyst Weigh In

BIIB has been the topic of several analyst reports. Wedbush restated a “neutral” rating and set a $121.00 price target on shares of Biogen in a report on Thursday, June 12th. Royal Bank Of Canada boosted their target price on shares of Biogen from $208.00 to $219.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Jefferies Financial Group started coverage on shares of Biogen in a research note on Thursday. They issued a “buy” rating and a $190.00 target price on the stock. Morgan Stanley dropped their target price on shares of Biogen from $146.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Friday, August 1st. Finally, HC Wainwright boosted their target price on shares of Biogen from $187.00 to $194.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Eleven analysts have rated the stock with a Buy rating and twenty have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $182.04.

Insider Buying and Selling

In related news, insider Priya Singhal sold 517 shares of the company’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 transaction of $69,045.35. Following the sale, the insider owned 5,772 shares of the company’s stock, valued at approximately $770,850.60. This represents a 8.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Rachid Izzar sold 2,223 shares of the company’s stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total transaction of $300,105.00. Following the sale, the insider directly owned 6,330 shares in the company, valued at $854,550. This trade represents a 25.99% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

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.