Aberdeen Group plc Purchases 9,942 Shares of Biogen Inc. $BIIB

Key Points

• Aberdeen Group plc increased its stake in Biogen Inc. by 6.8%, acquiring an additional 9,942 shares, bringing its total ownership to 156,755 shares valued at approximately $19.69 million.
• Several institutional investors, including Vanguard Group Inc. and AQR Capital Management LLC, also raised their positions in Biogen, highlighting strong institutional interest in the company.
• Wall Street analysts have mixed ratings on Biogen, with eleven rating it as a "Buy", nineteen as a "Hold," and one as a "Sell," indicating varied sentiments on its future performance.

Aberdeen Group plc increased its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 6.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 156,755 shares of the biotechnology company's stock after purchasing an additional 9,942 shares during the quarter. Aberdeen Group plc owned 0.11% of Biogen worth $19,687,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in Biogen by 1.7% during the first quarter. Vanguard Group Inc. now owns 17,032,839 shares of the biotechnology company's stock worth $2,330,774,000 after purchasing an additional 283,964 shares during the period. Invesco Ltd. lifted its position in Biogen by 6.4% during the first quarter. Invesco Ltd. now owns 2,265,007 shares of the biotechnology company's stock worth $309,944,000 after purchasing an additional 136,200 shares during the period. AQR Capital Management LLC lifted 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 worth $187,258,000 after purchasing an additional 829,150 shares during the period. Amundi raised its stake in Biogen by 8.1% during the first quarter. Amundi now owns 1,315,947 shares of the biotechnology company's stock worth $172,007,000 after acquiring an additional 98,957 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Biogen by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,019,219 shares of the biotechnology company's stock worth $139,470,000 after acquiring an additional 47,956 shares in the last quarter. Institutional investors own 87.93% of the company's stock.

Wall Street Analysts Forecast Growth

BIIB has been the subject of several research analyst reports. Wall Street Zen raised Biogen from a "buy" rating to a "strong-buy" rating in a research note on Sunday, September 28th. Weiss Ratings reissued a "sell (d+)" rating on shares of Biogen in a research note on Wednesday, October 8th. Needham & Company LLC reissued a "hold" rating on shares of Biogen in a research note on Wednesday, September 24th. HC Wainwright boosted their target price on Biogen from $187.00 to $194.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, 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. Eleven research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Biogen presently has an average rating of "Hold" and an average target price of $180.15.

Biogen Stock Performance

Biogen stock opened at $144.69 on Tuesday. The business has a 50 day moving average of $140.46 and a 200-day moving average of $131.13. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $194.13. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79. The company has a market capitalization of $21.21 billion, a P/E ratio of 13.83, a P/E/G ratio of 1.16 and a beta of 0.13.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.93 by $1.54. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the prior year, the firm posted $5.28 earnings per share. The firm's 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. On average, equities research analysts predict that Biogen Inc. will post 15.83 earnings per share for the current year.

Insiders Place Their Bets

In other Biogen news, insider Priya Singhal sold 517 shares of the stock in a transaction that occurred 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 completion of the sale, the insider owned 5,772 shares of the company's stock, valued at approximately $770,850.60. This represents a 8.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company's stock.

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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