Brooklyn Investment Group Purchases 309 Shares of Biogen Inc. $BIIB

Brooklyn Investment Group boosted its position in Biogen Inc. (NASDAQ:BIIB) by 49.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 929 shares of the biotechnology company’s stock after purchasing an additional 309 shares during the period. Brooklyn Investment Group’s holdings in Biogen were worth $127,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Colonial Trust Co SC boosted its holdings in shares of Biogen by 9,300.0% in the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company’s stock worth $29,000 after buying an additional 186 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in Biogen in the first quarter worth approximately $26,000. Greykasell Wealth Strategies Inc. bought a new position in Biogen in the first quarter worth approximately $27,000. Vision Financial Markets LLC purchased a new position in shares of Biogen during the 1st quarter worth $27,000. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Biogen during the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Insider Transactions at Biogen

In other news, insider Rachid Izzar sold 2,223 shares of the company’s stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total transaction of $300,105.00. Following the sale, the insider directly owned 6,330 shares of the company’s stock, valued at $854,550. This represents a 25.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Robert W. Baird decreased their target price on Biogen from $300.00 to $255.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Biogen in a research note on Thursday, June 12th. Canaccord Genuity Group lowered their price objective on Biogen from $265.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. HC Wainwright boosted their price objective on Biogen from $187.00 to $194.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Finally, Wall Street Zen upgraded shares of Biogen from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Eleven analysts have rated the stock with a Buy rating and twenty-one have assigned a Hold rating to the company. Based on data from MarketBeat.com, Biogen currently has a consensus rating of “Hold” and an average price target of $185.74.

Biogen Stock Up 0.1%

Shares of BIIB stock opened at $138.99 on Thursday. The company’s fifty day simple moving average is $130.35 and its two-hundred day simple moving average is $130.90. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $207.59. The stock has a market cap of $20.38 billion, a P/E ratio of 13.29, a PEG ratio of 1.09 and a beta of 0.13. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36.

Biogen (NASDAQ:BIIB) last issued its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.93 by $1.54. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The business’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Biogen Company 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.