Plato Investment Management Ltd Raises Stock Holdings in Biogen Inc. $BIIB

Plato Investment Management Ltd raised its position in shares of Biogen Inc. (NASDAQ:BIIB) by 361.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,939 shares of the biotechnology company’s stock after purchasing an additional 3,869 shares during the period. Plato Investment Management Ltd’s holdings in Biogen were worth $618,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of BIIB. Cambridge Investment Research Advisors Inc. increased its position in Biogen by 11.3% in the first 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 during the last quarter. Allspring Global Investments Holdings LLC increased its position in Biogen by 58.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,862 shares of the biotechnology company’s stock worth $1,434,000 after buying an additional 4,019 shares during the last quarter. Private Trust Co. NA increased its position in Biogen by 74.8% in the first quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company’s stock worth $31,000 after buying an additional 98 shares during the last quarter. Calamos Advisors LLC increased its position in Biogen by 1.1% in the first quarter. Calamos Advisors LLC now owns 36,970 shares of the biotechnology company’s stock worth $5,059,000 after buying an additional 412 shares during the last quarter. Finally, OneDigital Investment Advisors LLC purchased a new stake in Biogen in the first quarter worth $231,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BIIB. Citigroup reissued a “neutral” rating on shares of Biogen in a research report on Wednesday, September 24th. Robert W. Baird decreased their target price on Biogen from $255.00 to $250.00 in a research report on Friday. Jefferies Financial Group started coverage on Biogen in a report on Thursday, September 25th. They issued a “buy” rating and a $190.00 price target for the company. Morgan Stanley raised their price target on Biogen from $144.00 to $149.00 and gave the stock an “equal weight” rating in a report on Friday, October 10th. Finally, Rothschild & Co Redburn raised their price target on Biogen from $149.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Nine investment analysts have rated the stock with a Buy rating and nineteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $177.00.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 517 shares of Biogen stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total transaction of $69,045.35. Following the completion of the sale, the insider 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Biogen Price Performance

Biogen stock opened at $154.27 on Monday. The firm has a market capitalization of $22.62 billion, a P/E ratio of 14.75, a PEG ratio of 1.17 and a beta of 0.13. Biogen Inc. has a one year low of $110.04 and a one year high of $179.48. The business has a fifty day moving average price of $144.21 and a 200-day moving average price of $133.77. 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 data on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.92. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.34 billion. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company earned $4.08 earnings per share. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. As a group, equities research analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.

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.