Premier Path Wealth Partners LLC Buys 839 Shares of Biogen Inc. $BIIB

Premier Path Wealth Partners LLC increased its stake in Biogen Inc. (NASDAQ:BIIB) by 9.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,551 shares of the biotechnology company’s stock after purchasing an additional 839 shares during the period. Premier Path Wealth Partners LLC’s holdings in Biogen were worth $1,200,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased 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 purchasing an additional 283,964 shares during the period. Invesco Ltd. increased its position in shares of Biogen by 6.4% in the first quarter. Invesco Ltd. now owns 2,265,007 shares of the biotechnology company’s stock worth $309,944,000 after purchasing an additional 136,200 shares during the period. AQR Capital Management LLC increased its position in shares of Biogen by 153.6% in the first 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 period. Amundi increased its position in shares of Biogen by 8.1% in the first quarter. Amundi now owns 1,315,947 shares of the biotechnology company’s stock worth $172,007,000 after purchasing an additional 98,957 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Biogen by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,019,219 shares of the biotechnology company’s stock worth $139,470,000 after purchasing an additional 47,956 shares during the period. Institutional investors own 87.93% of the company’s stock.

Insider Activity at Biogen

In other news, insider Priya Singhal sold 517 shares of Biogen stock in a transaction dated Tuesday, September 2nd. The stock was 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 approximately $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 SEC, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BIIB shares. Jefferies Financial Group started coverage on Biogen in a research report on Thursday, September 25th. They issued a “buy” rating and a $190.00 price target on the stock. Wall Street Zen raised Biogen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 28th. Wedbush raised 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. Royal Bank Of Canada reduced their price objective on Biogen from $219.00 to $217.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 8th. Finally, William Blair reaffirmed an “outperform” rating on shares of Biogen in a research note on Wednesday, September 24th. Nine analysts have rated the stock with a Buy rating and nineteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, Biogen presently has an average rating of “Hold” and an average price target of $176.79.

Biogen Stock Performance

Shares of BIIB stock opened at $149.61 on Friday. The business’s 50-day moving average price is $143.91 and its 200-day moving average price is $133.29. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $179.48. The firm has a market capitalization of $21.94 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 1.17 and a beta of 0.13. 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 (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, October 30th. The biotechnology company reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $3.89 by $0.92. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same period last year, the firm posted $4.08 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. Equities research analysts forecast that Biogen Inc. will post 15.83 EPS for the current 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.