20,500 Shares in Biogen Inc. $BIIB Acquired by Privium Fund Management B.V.

Key Points

• Privium Fund Management B.V. acquired 20,500 shares of Biogen Inc., valued at approximately $2,666,000, making it the 21st largest holding in their portfolio.
• Currently, 87.93% of Biogen's stock is owned by institutional investors and hedge funds, indicating significant institutional interest in the company.
• Analysts have mixed ratings for Biogen, with eleven assigning a "Buy", nineteen a "Hold", and one a "Sell" rating, reflecting diverse market opinions on the stock's future performance.

Privium Fund Management B.V. purchased a new stake in Biogen Inc. (NASDAQ:BIIB - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 20,500 shares of the biotechnology company's stock, valued at approximately $2,666,000. Biogen accounts for 0.6% of Privium Fund Management B.V.'s portfolio, making the stock its 21st largest holding.

Other hedge funds have also recently bought and sold shares of the company. Vision Financial Markets LLC acquired a new stake in shares of Biogen during the 1st quarter worth about $27,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Biogen in the first quarter valued at approximately $27,000. Zions Bancorporation National Association UT acquired a new position in shares of Biogen in the 1st quarter worth approximately $29,000. Concord Wealth Partners boosted its holdings in shares of Biogen by 100.0% in the 2nd quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company's stock worth $29,000 after acquiring an additional 114 shares in the last quarter. Finally, Private Trust Co. NA increased its holdings in Biogen by 74.8% during the 1st quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company's stock valued at $31,000 after purchasing an additional 98 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Rothschild & Co Redburn increased their target price on Biogen from $149.00 to $150.00 and gave the stock a "neutral" rating in a report on Monday, October 6th. HC Wainwright upped their price target on shares of Biogen from $187.00 to $194.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Royal Bank Of Canada decreased their price objective on shares of Biogen from $219.00 to $217.00 and set an "outperform" rating on the stock in a report on Wednesday, October 8th. Jefferies Financial Group initiated coverage on shares of Biogen in a research note on Thursday, September 25th. They issued a "buy" rating and a $190.00 target price for the company. Finally, William Blair reiterated an "outperform" rating on shares of Biogen in a research report on Wednesday, September 24th. Eleven analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $180.69.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 517 shares of the company'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 completion of the sale, the insider 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 SEC, which can be accessed through this link. 0.18% of the stock is currently owned by company insiders.

Biogen Stock Up 2.5%

Shares of NASDAQ BIIB opened at $146.63 on Tuesday. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $190.40. The firm's 50-day moving average is $141.91 and its 200-day moving average is $131.60. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $21.50 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 1.13 and a beta of 0.13.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) 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 firm had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.32 billion. During the same period last year, the firm earned $5.28 earnings per share. The business's revenue for the quarter was up 7.3% on a year-over-year basis. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Equities analysts expect that Biogen Inc. will post 15.83 EPS for the current year.

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.

Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc. (NASDAQ:BIIB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.