Biogen Inc. $BIIB Position Boosted by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC lifted its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 19.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 6,311 shares of the biotechnology company’s stock after buying an additional 1,010 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Biogen were worth $793,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vision Financial Markets LLC bought a new position in shares of Biogen during the first quarter worth about $27,000. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Biogen during the 1st quarter worth approximately $27,000. Zions Bancorporation National Association UT acquired a new stake in shares of Biogen during the 1st quarter worth approximately $29,000. Concord Wealth Partners raised its position 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 purchasing an additional 114 shares during the period. Finally, Private Trust Co. NA raised its position in shares of Biogen by 74.8% during the 1st quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 98 shares during the period. Institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Weiss Ratings upgraded Biogen from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 24th. Morgan Stanley lifted their price target on Biogen from $144.00 to $149.00 and gave the company an “equal weight” rating in a report on Friday, October 10th. Jefferies Financial Group initiated coverage on Biogen in a research report on Thursday, September 25th. They set a “buy” rating and a $190.00 price objective for the company. HC Wainwright boosted their price objective on Biogen from $187.00 to $194.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Finally, Royal Bank Of Canada reduced their price objective on Biogen from $219.00 to $217.00 and set an “outperform” rating for the company in a research report on Wednesday, October 8th. Eleven research analysts have rated the stock with a Buy rating and twenty have issued a Hold rating to the company’s stock. According to data from MarketBeat, Biogen has a consensus rating of “Hold” and an average price target of $180.69.

Insider Activity

In other Biogen news, insider Priya Singhal sold 517 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was 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 approximately $770,850.60. This represents a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $149.13 on Wednesday. The stock has a market cap of $21.87 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 1.19 and a beta of 0.13. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $187.28. The stock’s 50 day moving average price is $143.53 and its 200 day moving average price is $132.94. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 13.85% and a net margin of 15.31%.The firm’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Equities research analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

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.