Biogen (NASDAQ:BIIB) Insider Priya Singhal Sells 517 Shares

Key Points

• Priya Singhal, an insider at Biogen, sold 517 shares of the company at an average price of $133.55, reducing their ownership by 8.22% to 5,772 shares.
• Biogen reported an earnings per share of $5.47 for the last quarter, significantly beating analysts' expectations of $3.93, with a revenue of $2.65 billion, exceeding the projected $2.32 billion.
• Institutional investors continue to show interest, owning approximately 87.93% of Biogen's stock, with several firms increasing their holdings in the company during the second quarter.

Biogen Inc. (NASDAQ:BIIB - Get Free Report) insider Priya Singhal sold 517 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total transaction of $69,045.35. Following the completion of the transaction, the insider directly owned 5,772 shares in the company, valued at approximately $770,850.60. This represents a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Biogen Price Performance

Shares of BIIB traded up $7.41 during mid-day trading on Tuesday, reaching $139.63. The company had a trading volume of 2,466,484 shares, compared to its average volume of 1,555,473. The company's 50 day simple moving average is $131.81 and its 200 day simple moving average is $130.55. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $206.70. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50. The company has a market capitalization of $20.47 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 1.04 and a beta of 0.11.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Wedmont Private Capital lifted its position in shares of Biogen by 3.8% during the 2nd quarter. Wedmont Private Capital now owns 2,190 shares of the biotechnology company's stock valued at $291,000 after acquiring an additional 81 shares during the period. Rothschild Investment LLC lifted its position in shares of Biogen by 64.7% during the 2nd quarter. Rothschild Investment LLC now owns 224 shares of the biotechnology company's stock valued at $28,000 after acquiring an additional 88 shares during the period. Legacy Wealth Asset Management LLC lifted its position in shares of Biogen by 3.8% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 2,511 shares of the biotechnology company's stock valued at $315,000 after acquiring an additional 91 shares during the period. B. Riley Wealth Advisors Inc. lifted its position in shares of Biogen by 4.1% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 2,343 shares of the biotechnology company's stock valued at $358,000 after acquiring an additional 92 shares during the period. Finally, Quent Capital LLC lifted its position in shares of Biogen by 31.2% during the 1st quarter. Quent Capital LLC now owns 391 shares of the biotechnology company's stock valued at $54,000 after acquiring an additional 93 shares during the period. Institutional investors and hedge funds own 87.93% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BIIB. Royal Bank Of Canada raised their price target on shares of Biogen from $208.00 to $219.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Morgan Stanley cut their target price on shares of Biogen from $146.00 to $144.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. JPMorgan Chase & Co. cut their target price on shares of Biogen from $185.00 to $175.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th. Truist Financial assumed coverage on shares of Biogen in a research report on Monday, July 21st. They set a "hold" rating and a $142.00 target price on the stock. Finally, Piper Sandler lifted their target price on shares of Biogen from $115.00 to $118.00 and gave the stock a "neutral" rating in a research report on Thursday, August 14th. Eleven research analysts have rated the stock with a Buy rating and twenty-one have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $185.74.

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.

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