Bessemer Group Inc. Has $444,000 Holdings in Biogen Inc. $BIIB

Bessemer Group Inc. grew its stake in Biogen Inc. (NASDAQ:BIIB) by 16.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,544 shares of the biotechnology company’s stock after buying an additional 507 shares during the quarter. Bessemer Group Inc.’s holdings in Biogen were worth $444,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BIIB. Generali Investments CEE investicni spolecnost a.s. boosted its holdings in Biogen by 43.2% during the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 38,755 shares of the biotechnology company’s stock worth $4,867,000 after purchasing an additional 11,695 shares during the last quarter. Privium Fund Management B.V. acquired a new position in Biogen during the second quarter worth $2,666,000. Nordea Investment Management AB boosted its holdings in Biogen by 5.7% during the second quarter. Nordea Investment Management AB now owns 125,935 shares of the biotechnology company’s stock worth $15,810,000 after purchasing an additional 6,811 shares during the last quarter. Point72 Europe London LLP acquired a new position in Biogen during the first quarter worth $11,286,000. Finally, Motley Fool Asset Management LLC boosted its holdings in Biogen by 64.7% during the first quarter. Motley Fool Asset Management LLC now owns 6,809 shares of the biotechnology company’s stock worth $932,000 after purchasing an additional 2,676 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 517 shares of the 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 directly owned 5,772 shares of the company’s stock, valued at $770,850.60. This represents a 8.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Morgan Stanley increased their target price on shares of Biogen from $144.00 to $149.00 and gave the stock an “equal weight” rating in a report on Friday, October 10th. Wells Fargo & Company lifted their price objective on shares of Biogen from $140.00 to $155.00 in a research report on Friday. Guggenheim lifted their price objective on shares of Biogen from $165.00 to $185.00 in a research report on Friday. William Blair reissued an “outperform” rating on shares of Biogen in a research report on Wednesday, September 24th. Finally, BMO Capital Markets lifted their price objective on shares of Biogen from $128.00 to $150.00 in a research report on Friday. Nine research analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the stock. According to MarketBeat, Biogen has an average rating of “Hold” and a consensus price target of $177.00.

Biogen Price Performance

Shares of BIIB opened at $154.27 on Monday. The firm has a market capitalization of $22.62 billion, a PE ratio of 14.75, a PEG ratio of 1.17 and a beta of 0.13. The company’s 50-day moving average is $144.21 and its 200-day moving average is $133.77. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $179.48. 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 issued its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.92. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.34 billion. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The company’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $4.08 earnings per share. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. Equities 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.