AG2R LA Mondiale Gestion D Actifs Makes New $992,000 Investment in Biogen Inc. $BIIB

Key Points

• AG2R LA Mondiale Gestion D Actifs invested $992,000 in Biogen Inc. by acquiring 7,641 shares of the biotechnology company during the first quarter.
• Biogen reported an EPS of $5.47 for the last quarter, exceeding analysts' estimate by $1.54, with a revenue of $2.65 billion, up 7.3% year-over-year.
• Analysts have given Biogen a consensus rating of "Hold", with price targets varying, including a high of $219.00 from Royal Bank Of Canada.

AG2R LA Mondiale Gestion D Actifs purchased a new stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,641 shares of the biotechnology company's stock, valued at approximately $992,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Swedbank AB increased its holdings in Biogen by 18.5% during the 1st quarter. Swedbank AB now owns 218,039 shares of the biotechnology company's stock worth $29,836,000 after purchasing an additional 33,994 shares during the period. Strs Ohio bought a new position in shares of Biogen during the 1st quarter worth $4,653,000. Jacobi Capital Management LLC increased its stake in shares of Biogen by 52.3% during the first quarter. Jacobi Capital Management LLC now owns 6,011 shares of the biotechnology company's stock valued at $823,000 after buying an additional 2,064 shares during the period. Acadian Asset Management LLC increased its stake in shares of Biogen by 448.7% during the first quarter. Acadian Asset Management LLC now owns 17,557 shares of the biotechnology company's stock valued at $2,401,000 after buying an additional 14,357 shares during the period. Finally, IFM Investors Pty Ltd raised its holdings in shares of Biogen by 0.9% in the first quarter. IFM Investors Pty Ltd now owns 33,729 shares of the biotechnology company's stock valued at $4,615,000 after acquiring an additional 304 shares in the last quarter. Institutional investors own 87.93% of the company's stock.

Biogen Price Performance

NASDAQ BIIB opened at $144.86 on Monday. The firm's fifty day simple moving average is $133.99 and its two-hundred day simple moving average is $130.70. The firm has a market capitalization of $21.24 billion, a P/E ratio of 13.85, a P/E/G ratio of 1.14 and a beta of 0.11. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $204.18.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 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 firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the prior year, the business posted $5.28 EPS. The business's revenue for the quarter 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 forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Transactions at Biogen

In related news, insider Rachid Izzar sold 2,223 shares of Biogen stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total value of $300,105.00. Following the completion of the sale, the insider directly owned 6,330 shares in the company, valued at $854,550. This trade represents a 25.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Priya Singhal sold 517 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total transaction of $69,045.35. Following the sale, the insider directly owned 5,772 shares in the company, valued at approximately $770,850.60. This represents a 8.22% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on BIIB. Royal Bank Of Canada raised their target price on shares of Biogen from $208.00 to $219.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Wedbush reissued a "neutral" rating and set a $121.00 price objective on shares of Biogen in a report on Thursday, June 12th. Citigroup boosted their price objective on shares of Biogen from $125.00 to $135.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Truist Financial assumed coverage on Biogen in a research report on Monday, July 21st. They set a "hold" rating and a $142.00 target price on the stock. Finally, Morgan Stanley cut their price target on Biogen from $146.00 to $144.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. Ten equities research analysts have rated the stock with a Buy rating and twenty-one have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $181.65.

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.

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