Candriam S.C.A. Has $20.51 Million Holdings in Biogen Inc. $BIIB

Candriam S.C.A. decreased its holdings in Biogen Inc. (NASDAQ:BIIB) by 12.6% during the second quarter, Holdings Channel.com reports. The firm owned 163,315 shares of the biotechnology company’s stock after selling 23,465 shares during the period. Candriam S.C.A.’s holdings in Biogen were worth $20,512,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. AQR Capital Management LLC grew its position in Biogen by 153.6% during the first quarter. AQR Capital Management LLC now owns 1,368,842 shares of the biotechnology company’s stock valued at $187,258,000 after purchasing an additional 829,150 shares in the last quarter. AustralianSuper Pty Ltd purchased a new position in shares of Biogen during the 1st quarter valued at $54,421,000. Vanguard Group Inc. increased its stake in shares of Biogen by 1.7% in the first quarter. Vanguard Group Inc. now owns 17,032,839 shares of the biotechnology company’s stock worth $2,330,774,000 after acquiring an additional 283,964 shares during the last quarter. State of Michigan Retirement System raised its holdings in shares of Biogen by 633.7% during the second quarter. State of Michigan Retirement System now owns 291,303 shares of the biotechnology company’s stock worth $36,585,000 after acquiring an additional 251,600 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Biogen by 1,036.1% during the second quarter. Acadian Asset Management LLC now owns 199,462 shares of the biotechnology company’s stock worth $25,044,000 after acquiring an additional 181,905 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 517 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total value of $69,045.35. Following the sale, the insider directly owned 5,772 shares of the company’s stock, valued at approximately $770,850.60. This trade represents a 8.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BIIB shares. Morgan Stanley upped their target price on Biogen from $144.00 to $149.00 and gave the stock an “equal weight” rating in a research report on Friday, October 10th. Wall Street Zen downgraded Biogen from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Truist Financial initiated coverage on shares of Biogen in a research note on Monday, July 21st. They issued a “hold” rating and a $142.00 target price for the company. Guggenheim boosted their target price on shares of Biogen from $165.00 to $185.00 in a research report on Friday, October 31st. Finally, Wedbush raised their price target on shares of Biogen from $135.00 to $143.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Ten equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $177.46.

Biogen Trading Up 2.0%

Shares of BIIB stock opened at $164.73 on Friday. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $175.86. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $147.83 and its two-hundred day moving average is $135.94. The company has a market cap of $24.17 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.17 and a beta of 0.10.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Thursday, October 30th. The biotechnology company reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $3.89 by $0.92. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Biogen had a net margin of 15.31% and a return on equity of 13.85%. Biogen’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $4.08 earnings per share. Biogen has set its FY 2025 guidance at 14.500-15.00 EPS. Equities analysts predict that Biogen Inc. will post 15.83 EPS for the current 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.