1,594 Shares in Biogen Inc. $BIIB Acquired by Optas LLC

Optas LLC acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,594 shares of the biotechnology company’s stock, valued at approximately $200,000.

A number of other institutional investors have also added to or reduced their stakes in BIIB. NBC Securities Inc. acquired a new position in Biogen during the 1st quarter worth approximately $35,000. UMB Bank n.a. increased its position in Biogen by 88.0% in the 1st quarter. UMB Bank n.a. now owns 472 shares of the biotechnology company’s stock valued at $65,000 after acquiring an additional 221 shares during the period. Park Avenue Securities LLC increased its position in Biogen by 32.9% in the 1st quarter. Park Avenue Securities LLC now owns 3,066 shares of the biotechnology company’s stock valued at $420,000 after acquiring an additional 759 shares during the period. Harbor Capital Advisors Inc. acquired a new position in Biogen in the 1st quarter valued at approximately $308,000. Finally, GAMMA Investing LLC increased its position in Biogen by 367.8% in the 1st quarter. GAMMA Investing LLC now owns 1,862 shares of the biotechnology company’s stock valued at $255,000 after acquiring an additional 1,464 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Down 2.0%

Shares of NASDAQ BIIB opened at $146.57 on Friday. The firm has a market cap of $21.49 billion, a PE ratio of 14.01, a P/E/G ratio of 1.18 and a beta of 0.13. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $194.13. The company’s fifty day simple moving average is $140.21 and its 200 day simple moving average is $131.23. 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 business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.32 billion. Biogen had a net margin of 15.31% and a return on equity of 13.85%. Biogen’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. As a group, sell-side analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 517 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total transaction of $69,045.35. Following the transaction, the insider directly owned 5,772 shares of the company’s stock, valued at $770,850.60. This represents a 8.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BIIB has been the subject of several recent research reports. Piper Sandler upped their price target on shares of Biogen from $115.00 to $118.00 and gave the company a “neutral” rating in a research report on Friday, September 12th. Weiss Ratings restated a “sell (d+)” rating on shares of Biogen in a research report on Wednesday. Morgan Stanley upped their price target on shares of Biogen from $144.00 to $149.00 and gave the company an “equal weight” rating in a research report on Friday. HC Wainwright upped their price target on shares of Biogen from $187.00 to $194.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, Royal Bank Of Canada decreased their price target on shares of Biogen from $219.00 to $217.00 and set an “outperform” rating for the company in a research report on Wednesday. Eleven analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $180.15.

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.