AlphaQuest LLC Raises Stock Position in Biogen Inc. $BIIB

AlphaQuest LLC increased its stake in Biogen Inc. (NASDAQ:BIIB) by 34.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,164 shares of the biotechnology company’s stock after purchasing an additional 2,837 shares during the quarter. AlphaQuest LLC’s holdings in Biogen were worth $1,402,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BIIB. GAMMA Investing LLC raised its position in shares of Biogen by 367.8% during the 1st quarter. GAMMA Investing LLC now owns 1,862 shares of the biotechnology company’s stock valued at $255,000 after purchasing an additional 1,464 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Biogen by 15.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 19,049 shares of the biotechnology company’s stock worth $2,607,000 after buying an additional 2,606 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Biogen by 11.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,828 shares of the biotechnology company’s stock worth $524,000 after buying an additional 389 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Biogen by 5.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 61,420 shares of the biotechnology company’s stock worth $8,405,000 after buying an additional 3,194 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC boosted its stake in shares of Biogen by 0.4% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 77,115 shares of the biotechnology company’s stock worth $10,552,000 after purchasing an additional 295 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on BIIB shares. Royal Bank Of Canada dropped their price target on shares of Biogen from $219.00 to $217.00 and set an “outperform” rating for the company in a research note on Wednesday, October 8th. Morgan Stanley boosted their price objective on shares of Biogen from $144.00 to $149.00 and gave the company an “equal weight” rating in a research report on Friday, October 10th. Needham & Company LLC restated a “hold” rating on shares of Biogen in a report on Wednesday, September 24th. Truist Financial started coverage on shares of Biogen in a report on Monday, July 21st. They issued a “hold” rating and a $142.00 price target for the company. Finally, HC Wainwright boosted their price target on shares of Biogen from $187.00 to $194.00 and gave the company a “buy” rating in a report on Friday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating and twenty have given a Hold rating to the company’s stock. According to data from MarketBeat, Biogen presently has an average rating of “Hold” and a consensus target price of $180.69.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 517 shares of the business’s stock in a transaction 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 directly owned 5,772 shares of the company’s stock, valued at $770,850.60. The trade was a 8.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is owned by company insiders.

Biogen Trading Down 0.1%

NASDAQ BIIB opened at $149.89 on Friday. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36. The firm has a market cap of $21.98 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 1.19 and a beta of 0.13. The company has a 50 day moving average price of $143.03 and a 200 day moving average price of $132.27. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $187.58.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, topping the consensus estimate of $3.93 by $1.54. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the previous year, the business posted $5.28 EPS. Biogen’s revenue was up 7.3% on a year-over-year basis. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. As a group, sell-side analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

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.