Aberdeen Group plc Sells 396,597 Shares of Biogen Inc. $BIIB

Key Points

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Aberdeen Group plc lessened its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 73.0% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 146,813 shares of the biotechnology company's stock after selling 396,597 shares during the period. Aberdeen Group plc owned 0.10% of Biogen worth $19,992,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Israel Discount Bank of New York lifted its position in Biogen by 6.2% in the fourth quarter. Israel Discount Bank of New York now owns 1,405 shares of the biotechnology company's stock worth $215,000 after buying an additional 82 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of Biogen by 4.1% in the fourth 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. Quent Capital LLC lifted its holdings in shares of Biogen by 31.2% in the 1st quarter. Quent Capital LLC now owns 391 shares of the biotechnology company's stock worth $54,000 after acquiring an additional 93 shares during the last quarter. CVA Family Office LLC lifted its holdings in shares of Biogen by 71.1% in the 1st quarter. CVA Family Office LLC now owns 231 shares of the biotechnology company's stock worth $32,000 after acquiring an additional 96 shares during the last quarter. Finally, Private Trust Co. NA boosted its stake in shares of Biogen by 74.8% during the 1st quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company's stock worth $31,000 after purchasing an additional 98 shares during the period. Hedge funds and other institutional investors own 87.93% of the company's stock.

Insider Activity

In other news, insider Rachid Izzar sold 2,223 shares of Biogen stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total value of $300,105.00. Following the transaction, the insider directly owned 6,330 shares in the company, valued at approximately $854,550. This trade represents a 25.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company's stock.

Biogen Stock Up 0.1%

NASDAQ BIIB traded up $0.13 on Wednesday, reaching $138.99. 1,286,294 shares of the stock traded hands, compared to its average volume of 1,558,558. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $207.59. The company has a market cap of $20.38 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 1.09 and a beta of 0.13. The company has a fifty day moving average price of $130.35 and a 200-day moving average price of $130.90. 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 (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.93 by $1.54. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.32 billion. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The business's revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.28 EPS. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. As a group, research analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BIIB has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a "hold" rating on shares of Biogen in a research report on Thursday, June 12th. Citigroup increased their price target on Biogen from $125.00 to $135.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Robert W. Baird dropped their price objective on Biogen from $300.00 to $255.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. HSBC downgraded Biogen from a "buy" rating to a "hold" rating and set a $118.00 price objective on the stock. in a research report on Monday, April 28th. Finally, Mizuho decreased their target price on Biogen from $207.00 to $169.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Eleven research analysts have rated the stock with a Buy rating and twenty-one have issued a Hold rating to the company. According to MarketBeat, Biogen has an average rating of "Hold" and a consensus target price of $185.74.

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.