Biogen Inc. $BIIB Shares Bought by CVA Family Office LLC

CVA Family Office LLC raised its position in shares of Biogen Inc. (NASDAQ:BIIB) by 70.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 393 shares of the biotechnology company’s stock after buying an additional 162 shares during the period. CVA Family Office LLC’s holdings in Biogen were worth $49,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Focus Partners Advisor Solutions LLC lifted its stake in Biogen by 19.1% during the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 6,311 shares of the biotechnology company’s stock worth $793,000 after acquiring an additional 1,010 shares in the last quarter. AlphaQuest LLC increased its stake in Biogen by 34.1% during the second quarter. AlphaQuest LLC now owns 11,164 shares of the biotechnology company’s stock worth $1,402,000 after purchasing an additional 2,837 shares during the period. Sector Gamma AS lifted its position in shares of Biogen by 171.7% during the second quarter. Sector Gamma AS now owns 50,639 shares of the biotechnology company’s stock worth $6,360,000 after purchasing an additional 32,000 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Biogen by 2.3% in the second quarter. Asset Management One Co. Ltd. now owns 62,810 shares of the biotechnology company’s stock valued at $7,888,000 after purchasing an additional 1,390 shares during the period. Finally, Freedom Investment Management Inc. grew its holdings in shares of Biogen by 9.8% in the second quarter. Freedom Investment Management Inc. now owns 3,144 shares of the biotechnology company’s stock valued at $395,000 after purchasing an additional 281 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Trading Down 0.1%

BIIB opened at $149.89 on Monday. 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 one year low of $110.04 and a one year high of $187.58. The company has a market cap of $21.98 billion, a P/E ratio of 14.33, a PEG ratio of 1.19 and a beta of 0.13. The business’s 50-day simple moving average is $143.03 and its 200-day simple moving average is $132.48.

Biogen (NASDAQ:BIIB) last posted its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share for the quarter, topping the consensus estimate of $3.93 by $1.54. The firm had revenue of $2.65 billion during 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 firm’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. As a group, equities research analysts expect that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 517 shares of Biogen 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 sale, the insider directly owned 5,772 shares in the company, valued at $770,850.60. This trade represents a 8.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BIIB shares. Morgan Stanley increased 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. Jefferies Financial Group began coverage on Biogen in a report on Thursday, September 25th. They issued a “buy” rating and a $190.00 target price for the company. Royal Bank Of Canada lowered their target price on Biogen from $219.00 to $217.00 and set an “outperform” rating for the company in a research note on Wednesday, October 8th. Wall Street Zen raised Biogen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, September 28th. Finally, William Blair reissued an “outperform” rating on shares of Biogen in a research report on Wednesday, September 24th. Eleven research analysts have rated the stock with a Buy rating and twenty have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $180.69.

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.