Brighton Jones LLC Purchases Shares of 5,102 Biogen Inc. $BIIB

Brighton Jones LLC purchased a new stake in Biogen Inc. (NASDAQ:BIIB) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 5,102 shares of the biotechnology company’s stock, valued at approximately $641,000.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Biogen by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 17,032,839 shares of the biotechnology company’s stock valued at $2,330,774,000 after acquiring an additional 283,964 shares in the last quarter. Invesco Ltd. raised its holdings in Biogen by 6.4% in the 1st quarter. Invesco Ltd. now owns 2,265,007 shares of the biotechnology company’s stock valued at $309,944,000 after acquiring an additional 136,200 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Biogen by 153.6% in the 1st quarter. AQR Capital Management LLC now owns 1,368,842 shares of the biotechnology company’s stock valued at $187,258,000 after purchasing an additional 829,150 shares during the period. Amundi grew its stake in shares of Biogen by 8.1% in the 1st quarter. Amundi now owns 1,315,947 shares of the biotechnology company’s stock valued at $172,007,000 after purchasing an additional 98,957 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Biogen by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,019,219 shares of the biotechnology company’s stock valued at $139,470,000 after purchasing an additional 47,956 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Down 0.9%

Shares of BIIB opened at $149.13 on Wednesday. The firm has a market capitalization of $21.87 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 1.19 and a beta of 0.13. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50. The business’s fifty day moving average price is $143.53 and its two-hundred day moving average price is $132.94. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $187.28.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data 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 firm had revenue of $2.65 billion for 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%.The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $5.28 EPS. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. On average, analysts predict that Biogen Inc. will post 15.83 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Rothschild & Co Redburn upped their price objective on Biogen from $149.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Piper Sandler upped their price objective on Biogen from $115.00 to $118.00 and gave the company a “neutral” rating in a research note on Friday, September 12th. Truist Financial assumed coverage on Biogen in a research note on Monday, July 21st. They issued a “hold” rating and a $142.00 price objective on the stock. Wedbush upped their price objective on Biogen from $129.00 to $135.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Finally, Wall Street Zen upgraded Biogen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 28th. Eleven equities research analysts have rated the stock with a Buy rating and twenty have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $180.69.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 517 shares of the 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 directly owned 5,772 shares in the company, valued at approximately $770,850.60. This trade represents a 8.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

About Biogen

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.