Applied Finance Capital Management LLC Invests $465,000 in Biogen Inc. $BIIB

Key Points

• Applied Finance Capital Management LLC has invested $465,000 in Biogen Inc., acquiring 3,703 shares during the second quarter.
• Biogen reported a Q2 earnings per share of $5.47, significantly beating expectations, with revenue of $2.65 billion.
• Analysts have a consensus rating of "Hold" for Biogen, with target prices ranging from $115 to $194 per share.

Applied Finance Capital Management LLC acquired a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,703 shares of the biotechnology company's stock, valued at approximately $465,000.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of 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 acquiring an additional 283,964 shares during the period. Invesco Ltd. increased its position in shares of 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 acquiring an additional 136,200 shares during the period. AQR Capital Management LLC increased its position in shares of 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 acquiring an additional 829,150 shares during the period. Amundi grew its stake in shares of 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 purchasing an additional 98,957 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of 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 purchasing an additional 47,956 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company's stock.

Biogen Trading Up 0.5%

NASDAQ:BIIB opened at $143.00 on Friday. The company has a market capitalization of $20.97 billion, a PE ratio of 13.67, a P/E/G ratio of 1.13 and a beta of 0.13. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $191.19. The stock's 50 day moving average price is $141.53 and its 200 day moving average price is $131.43. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share for the quarter, beating the consensus estimate of $3.93 by $1.54. The business had revenue of $2.65 billion during 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 company's revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. On average, research analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on BIIB shares. Needham & Company LLC reiterated a "hold" rating on shares of Biogen in a research note on Wednesday, September 24th. Morgan Stanley boosted their target price on shares of Biogen from $144.00 to $149.00 and gave the stock an "equal weight" rating in a research note on Friday, October 10th. Citigroup reiterated a "neutral" rating on shares of Biogen in a research note on Wednesday, September 24th. Piper Sandler boosted their target price on shares of Biogen from $115.00 to $118.00 and gave the stock a "neutral" rating in a research note on Friday, September 12th. Finally, HC Wainwright boosted their target price on shares of Biogen from $187.00 to $194.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $180.69.

Insider Activity

In other news, insider Priya Singhal sold 517 shares of the firm's 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 transaction, the insider directly owned 5,772 shares in the company, valued at approximately $770,850.60. This trade represents a 8.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.18% of the company's stock.

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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