Biogen Inc. $BIIB Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 96.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 22,470 shares of the biotechnology company’s stock after selling 684,723 shares during the period. SG Americas Securities LLC’s holdings in Biogen were worth $2,822,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Wedmont Private Capital raised its position in shares of Biogen by 3.8% during the 2nd quarter. Wedmont Private Capital now owns 2,190 shares of the biotechnology company’s stock valued at $291,000 after acquiring an additional 81 shares in the last quarter. Legacy Wealth Asset Management LLC grew its holdings in Biogen by 3.8% during the second quarter. Legacy Wealth Asset Management LLC now owns 2,511 shares of the biotechnology company’s stock worth $315,000 after acquiring an additional 91 shares during the period. TIAA Trust National Association grew its position in Biogen by 2.3% in the second quarter. TIAA Trust National Association now owns 4,443 shares of the biotechnology company’s stock worth $558,000 after buying an additional 100 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Biogen by 21.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 617 shares of the biotechnology company’s stock worth $77,000 after purchasing an additional 107 shares during the period. Finally, Capital Investment Advisors LLC boosted its holdings in shares of Biogen by 5.4% in the second quarter. Capital Investment Advisors LLC now owns 2,164 shares of the biotechnology company’s stock worth $272,000 after buying an additional 111 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BIIB has been the subject of a number of research reports. Wedbush lifted their price objective on Biogen from $135.00 to $143.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Tudor Pickering set a $157.00 price objective on Biogen in a research report on Monday, November 3rd. Citigroup reaffirmed a “neutral” rating on shares of Biogen in a report on Wednesday, September 24th. Morgan Stanley upped 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. Finally, Mizuho lifted their price objective on Biogen from $169.00 to $177.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. Ten equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Biogen presently has an average rating of “Hold” and an average target price of $177.46.

Insider Buying and Selling

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 completion of the transaction, the insider owned 5,772 shares of the company’s stock, valued at approximately $770,850.60. This represents a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

Biogen Stock Up 2.5%

Shares of BIIB opened at $168.83 on Wednesday. The firm has a market cap of $24.77 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 1.17 and a beta of 0.10. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $170.78. The firm’s 50-day simple moving average is $149.34 and its 200 day simple moving average is $137.12.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data 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 in the prior year, the firm posted $4.08 EPS. The company’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. On average, analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current year.

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.