Banco Bilbao Vizcaya Argentaria S.A. Purchases 2,231 Shares of Biogen Inc. $BIIB

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. has increased its holdings in Biogen Inc. by 1.8%, owning approximately $17.72 million worth of shares as of its latest SEC filing.
• Analyst ratings for Biogen have varied, with the stock currently having an average rating of "Hold" and a consensus price target of $185.74.
• Biogen reported a quarterly earnings per share (EPS) of $5.47, significantly beating analysts' estimates and showing a revenue increase of 7.3% compared to the previous year.

Banco Bilbao Vizcaya Argentaria S.A. raised its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 1.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 129,513 shares of the biotechnology company's stock after purchasing an additional 2,231 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. owned approximately 0.09% of Biogen worth $17,724,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of BIIB. Marshall Wace LLP boosted its holdings in Biogen by 20.6% in the 4th quarter. Marshall Wace LLP now owns 79,952 shares of the biotechnology company's stock valued at $12,226,000 after purchasing an additional 13,652 shares during the period. Freedom Investment Management Inc. boosted its holdings in Biogen by 8.5% in the 4th quarter. Freedom Investment Management Inc. now owns 2,024 shares of the biotechnology company's stock valued at $310,000 after purchasing an additional 159 shares during the period. First Trust Advisors LP boosted its holdings in Biogen by 42.6% in the 4th quarter. First Trust Advisors LP now owns 511,280 shares of the biotechnology company's stock valued at $78,185,000 after purchasing an additional 152,789 shares during the period. Norinchukin Bank The boosted its holdings in Biogen by 9.7% in the 4th quarter. Norinchukin Bank The now owns 8,032 shares of the biotechnology company's stock valued at $1,228,000 after purchasing an additional 711 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in Biogen by 1.8% in the 4th quarter. MetLife Investment Management LLC now owns 38,564 shares of the biotechnology company's stock valued at $5,897,000 after purchasing an additional 690 shares during the period. 87.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BIIB has been the subject of a number of recent research reports. Morgan Stanley dropped their price objective on shares of Biogen from $146.00 to $144.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st. Wedbush restated a "neutral" rating and issued a $121.00 price objective on shares of Biogen in a research note on Thursday, June 12th. HC Wainwright increased their price objective on shares of Biogen from $187.00 to $194.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Citigroup increased their price objective on shares of Biogen from $125.00 to $135.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Finally, Robert W. Baird dropped their price objective on shares of Biogen from $300.00 to $255.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Eleven research analysts have rated the stock with a Buy rating and twenty-one have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Biogen currently has a consensus rating of "Hold" and a consensus price target of $185.74.

Biogen Price Performance

Shares of Biogen stock traded up $0.19 during mid-day trading on Friday, reaching $139.31. 1,198,725 shares of the stock were exchanged, compared to its average volume of 1,556,198. The company has a market cap of $20.43 billion, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 1.10 and a beta of 0.13. 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 50-day simple moving average of $130.66 and a 200 day simple moving average of $130.75. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $206.70.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its 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 during the quarter, compared to analysts' expectations of $2.32 billion. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the company posted $5.28 EPS. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. On average, sell-side analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Activity

In related news, insider Rachid Izzar sold 2,223 shares of the stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total transaction of $300,105.00. Following the completion of the sale, the insider owned 6,330 shares in the company, valued at $854,550. This trade represents a 25.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.18% of the stock is owned by company insiders.

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.