Banque Transatlantique SA Makes New $428,000 Investment in Biogen Inc. $BIIB

Key Points

• Banque Transatlantique SA has made a new investment of $428,000 in Biogen Inc., acquiring 3,388 shares during the first quarter.
• Recent analyst ratings have raised Biogen's price targets, with Citigroup increasing its target from $125.00 to $135.00, while HC Wainwright also boosted its target to $194.00, reflecting growing optimism about the company's performance.
• Despite a robust quarterly earnings report showing earnings per share of $5.47 and an increase in revenue, insiders like Rachid Izzar have sold shares, indicating mixed signals regarding future confidence in the stock.

Banque Transatlantique SA bought a new position in Biogen Inc. (NASDAQ:BIIB - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,388 shares of the biotechnology company's stock, valued at approximately $428,000.

Other institutional investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new stake in shares of Biogen in the 1st quarter worth $26,000. Vision Financial Markets LLC bought a new stake in shares of Biogen in the 1st quarter worth $27,000. Greykasell Wealth Strategies Inc. bought a new stake in shares of Biogen in the 1st quarter worth $27,000. Colonial Trust Co SC grew its stake in shares of Biogen by 9,300.0% in the 4th quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock worth $29,000 after acquiring an additional 186 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Biogen in the 1st quarter worth about $29,000. Institutional investors own 87.93% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Piper Sandler boosted their price target on shares of Biogen from $115.00 to $118.00 and gave the stock a "neutral" rating in a report on Thursday, August 14th. Citigroup boosted their price target on shares of Biogen from $125.00 to $135.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Wall Street Zen raised shares of Biogen from a "buy" rating to a "strong-buy" rating in a report on Friday. HC Wainwright upped their price objective on shares of Biogen from $187.00 to $194.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Biogen in a research report on Thursday. Eleven analysts have rated the stock with a Buy rating and twenty-one have issued a Hold rating to the stock. Based on data from MarketBeat, Biogen presently has an average rating of "Hold" and a consensus price target of $185.74.

Biogen Price Performance

Shares of BIIB stock traded up $0.68 during trading hours on Monday, reaching $141.35. The stock had a trading volume of 1,624,130 shares, compared to its average volume of 1,559,383. The stock's fifty day simple moving average is $132.65 and its 200 day simple moving average is $130.59. 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. The firm has a market capitalization of $20.72 billion, a PE ratio of 13.51, a PEG ratio of 1.11 and a beta of 0.11.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, beating analysts' consensus estimates of $3.93 by $1.54. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period last year, the business earned $5.28 earnings per share. Biogen'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 EPS for the current year.

Insider Buying and Selling

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 value of $69,045.35. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rachid Izzar sold 2,223 shares of the firm's stock in a transaction that occurred on 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 directly owned 6,330 shares in the company, valued at $854,550. This represents a 25.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently 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.