Lido Advisors LLC Has $647,000 Position in Biogen Inc. $BIIB

Lido Advisors LLC lessened its holdings in Biogen Inc. (NASDAQ:BIIB) by 88.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 5,148 shares of the biotechnology company’s stock after selling 37,897 shares during the period. Lido Advisors LLC’s holdings in Biogen were worth $647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 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 valued at $4,867,000 after purchasing an additional 11,695 shares in the last quarter. Valeo Financial Advisors LLC bought a new position in shares of Biogen during the 2nd quarter worth approximately $225,000. Privium Fund Management B.V. acquired a new stake in Biogen in the 2nd quarter valued at $2,666,000. Nordea Investment Management AB grew its position in 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 acquiring an additional 6,811 shares during the period. Finally, Point72 Europe London LLP acquired a new position in Biogen during the first quarter worth $11,286,000. 87.93% of the stock is owned by institutional investors.

Biogen Trading Down 0.4%

BIIB stock opened at $181.30 on Friday. The company has a market cap of $26.60 billion, a P/E ratio of 16.53, a PEG ratio of 1.52 and a beta of 0.13. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $185.17. The company has a quick ratio of 2.04, a current ratio of 2.72 and a debt-to-equity ratio of 0.35. The business has a fifty day moving average of $158.79 and a 200-day moving average of $142.09.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results 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 business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Biogen had a return on equity of 14.13% and a net margin of 15.98%.The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business 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 expect that Biogen Inc. will post 15.83 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Sanford C. Bernstein upped their target price on shares of Biogen from $155.00 to $157.00 and gave the stock a “market perform” rating in a report on Monday, November 3rd. Royal Bank Of Canada reduced their price target on shares of Biogen from $217.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. Morgan Stanley raised their price objective 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. Tudor Pickering set a $157.00 price target on Biogen in a research report on Monday, November 3rd. Finally, Rothschild & Co Redburn raised their price target on Biogen from $149.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Ten analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $179.73.

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.