Banco Bilbao Vizcaya Argentaria S.A. Reduces Position in Biogen Inc. $BIIB

Banco Bilbao Vizcaya Argentaria S.A. trimmed its position in Biogen Inc. (NASDAQ:BIIB) by 11.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 114,872 shares of the biotechnology company’s stock after selling 14,641 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Biogen were worth $14,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BIIB. Greykasell Wealth Strategies Inc. acquired a new position in shares of Biogen in the first quarter valued at about $27,000. Vision Financial Markets LLC acquired a new stake in shares of Biogen during the first quarter worth about $27,000. Zions Bancorporation National Association UT purchased a new stake in Biogen in the first quarter valued at approximately $29,000. Concord Wealth Partners increased its holdings in Biogen by 100.0% in the 2nd quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock worth $29,000 after buying an additional 114 shares during the period. Finally, NewSquare Capital LLC raised its position in Biogen by 134.6% during the 2nd quarter. NewSquare Capital LLC now owns 244 shares of the biotechnology company’s stock worth $31,000 after buying an additional 140 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Price Performance

Shares of Biogen stock opened at $167.55 on Friday. The firm has a market cap of $24.58 billion, a PE ratio of 16.02, a P/E/G ratio of 1.17 and a beta of 0.10. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $169.00. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average price of $148.37 and a 200 day moving average price of $136.28.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 EPS 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 return on equity of 13.85% and a net margin of 15.31%.Biogen’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company earned $4.08 earnings per share. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. Sell-side analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on BIIB shares. Wall Street Zen downgraded shares of Biogen from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Truist Financial started coverage on Biogen in a research report on Monday, July 21st. They set a “hold” rating and a $142.00 price target on the stock. Citigroup reissued a “neutral” rating on shares of Biogen in a report on Wednesday, September 24th. Stifel Nicolaus upgraded Biogen from a “hold” rating to a “buy” rating and upped their target price for the stock from $144.00 to $202.00 in a research note on Thursday, November 6th. Finally, Sanford C. Bernstein lifted their price target on Biogen from $155.00 to $157.00 and gave the company a “market perform” rating in a research report on Monday, November 3rd. Ten research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Biogen currently has a consensus rating of “Hold” and an average price target of $177.46.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 517 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total value 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. The trade was a 8.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.