Biogen Inc. $BIIB Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA trimmed its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 0.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,802,122 shares of the biotechnology company’s stock after selling 141,137 shares during the quarter. Biogen accounts for approximately 1.6% of Primecap Management Co. CA’s portfolio, making the stock its 15th biggest position. Primecap Management Co. CA owned about 0.11% of Biogen worth $1,984,589,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BIIB. Generali Investments CEE investicni spolecnost a.s. increased its holdings in Biogen by 43.2% in the 2nd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 38,755 shares of the biotechnology company’s stock valued at $4,867,000 after purchasing an additional 11,695 shares during the last quarter. Privium Fund Management B.V. purchased a new position in shares of Biogen during the second quarter worth $2,666,000. Nordea Investment Management AB grew its stake in shares of Biogen by 5.7% in the second quarter. Nordea Investment Management AB now owns 125,935 shares of the biotechnology company’s stock valued at $15,810,000 after buying an additional 6,811 shares in the last quarter. Point72 Europe London LLP acquired a new stake in shares of Biogen in the first quarter valued at $11,286,000. Finally, Motley Fool Asset Management LLC raised its holdings in shares of Biogen by 64.7% in the 1st quarter. Motley Fool Asset Management LLC now owns 6,809 shares of the biotechnology company’s stock valued at $932,000 after buying an additional 2,676 shares during the period. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Performance

Shares of BIIB stock opened at $168.83 on Wednesday. The company has a market cap of $24.77 billion, a P/E ratio of 16.14, a PEG ratio of 1.17 and a beta of 0.10. The firm has a fifty day moving average price of $149.34 and a 200 day moving average price of $137.12. 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 Inc. has a 12 month low of $110.04 and a 12 month high of $170.78.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the previous year, the business earned $4.08 EPS. Biogen’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. Sell-side analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BIIB has been the subject of a number of research analyst reports. Piper Sandler raised their target price on Biogen from $115.00 to $118.00 and gave the company a “neutral” rating in a report on Friday, September 12th. Guggenheim lifted their price objective on shares of Biogen from $165.00 to $185.00 in a report on Friday, October 31st. Wall Street Zen lowered shares of Biogen from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Tudor Pickering set a $157.00 price target on shares of Biogen in a research report on Monday, November 3rd. Finally, BMO Capital Markets upped their price objective on Biogen from $128.00 to $150.00 in a research report on Friday, October 31st. Ten research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Biogen presently has an average rating of “Hold” and an average price target of $177.46.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 517 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 5,772 shares in the company, 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 SEC, which is available at this hyperlink. 0.18% of the stock is owned by corporate insiders.

Biogen 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.