Praxis Investment Management Inc. Raises Holdings in Biogen Inc. $BIIB

Praxis Investment Management Inc. increased its position in Biogen Inc. (NASDAQ:BIIB) by 30.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,690 shares of the biotechnology company’s stock after buying an additional 1,330 shares during the quarter. Praxis Investment Management Inc.’s holdings in Biogen were worth $715,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in BIIB. Greykasell Wealth Strategies Inc. purchased a new position in Biogen in the first quarter valued at about $27,000. Vision Financial Markets LLC purchased a new position in Biogen in the first quarter valued at about $27,000. Zions Bancorporation National Association UT purchased a new position in Biogen in the first quarter valued at about $29,000. Concord Wealth Partners raised its position in Biogen by 100.0% in the second quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 114 shares during the period. Finally, Private Trust Co. NA raised its position in Biogen by 74.8% in the first quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 98 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Stock Up 0.5%

NASDAQ:BIIB opened at $143.00 on Friday. The company has a market capitalization of $20.97 billion, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 1.13 and a beta of 0.13. Biogen Inc. has a one year low of $110.04 and a one year high of $191.19. The stock has a 50-day simple moving average of $141.53 and a 200 day simple moving average of $131.43. 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 (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, topping analysts’ consensus estimates of $3.93 by $1.54. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.32 billion. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm earned $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Sell-side analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Transactions at Biogen

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 value of $69,045.35. Following the transaction, the insider owned 5,772 shares of the company’s stock, valued at $770,850.60. This trade represents a 8.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on BIIB. HC Wainwright raised their price objective on Biogen from $187.00 to $194.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Citigroup reissued a “neutral” rating on shares of Biogen in a research report on Wednesday, September 24th. Jefferies Financial Group assumed coverage on Biogen in a research note on Thursday, September 25th. They set a “buy” rating and a $190.00 target price for the company. Wedbush lifted their target price on Biogen from $129.00 to $135.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Piper Sandler lifted their target price on Biogen from $115.00 to $118.00 and gave the stock a “neutral” rating in a research report on Friday, September 12th. Eleven investment analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $180.69.

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.