First County Bank CT Has $562,000 Stake in Biogen Inc. $BIIB

First County Bank CT lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 6.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,477 shares of the biotechnology company’s stock after selling 295 shares during the quarter. First County Bank CT’s holdings in Biogen were worth $562,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIIB. AQR Capital Management LLC increased its stake in shares of Biogen by 153.6% during the 1st quarter. AQR Capital Management LLC now owns 1,368,842 shares of the biotechnology company’s stock worth $187,258,000 after purchasing an additional 829,150 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Biogen by 1,663.4% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 780,567 shares of the biotechnology company’s stock worth $106,813,000 after purchasing an additional 736,301 shares in the last quarter. AustralianSuper Pty Ltd bought a new stake in Biogen in the first quarter worth $54,421,000. Vanguard Group Inc. lifted its position in shares of Biogen by 1.7% in the first quarter. Vanguard Group Inc. now owns 17,032,839 shares of the biotechnology company’s stock worth $2,330,774,000 after buying an additional 283,964 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Biogen by 63,919.1% in the first quarter. GAMMA Investing LLC now owns 254,796 shares of the biotechnology company’s stock worth $34,866,000 after buying an additional 254,398 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Insider Activity

In other Biogen news, insider Priya Singhal sold 517 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total transaction of $69,045.35. Following the completion of the transaction, the insider owned 5,772 shares in the company, valued at $770,850.60. This trade represents a 8.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Rachid Izzar sold 2,223 shares of the firm’s stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total transaction of $300,105.00. Following the transaction, the insider owned 6,330 shares of the company’s stock, valued at approximately $854,550. This represents a 25.99% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Biogen Price Performance

Shares of BIIB stock opened at $137.37 on Monday. The stock has a 50 day moving average of $135.97 and a two-hundred day moving average of $130.47. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $197.70. The company has a market capitalization of $20.14 billion, a P/E ratio of 13.13, a P/E/G ratio of 1.08 and a beta of 0.11.

Biogen (NASDAQ:BIIB) last issued its 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 business had revenue of $2.65 billion during 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%.Biogen’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. As a group, equities analysts expect that Biogen Inc. will post 15.83 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BIIB. William Blair reissued an “outperform” rating on shares of Biogen in a research note on Wednesday, September 24th. Morgan Stanley lowered their price target on Biogen from $146.00 to $144.00 and set an “equal weight” rating on the stock in a report on Friday, August 1st. Needham & Company LLC reiterated a “hold” rating on shares of Biogen in a report on Wednesday, September 24th. Piper Sandler upped their price objective on shares of Biogen from $115.00 to $118.00 and gave the stock a “neutral” rating in a report on Friday, September 12th. Finally, Citigroup reissued a “neutral” rating on shares of Biogen in a research report on Wednesday. Eleven research analysts have rated the stock with a Buy rating and twenty have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $182.04.

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.