Trexquant Investment LP Raises Stake in Biogen Inc. $BIIB

Key Points

• Trexquant Investment LP significantly increased its holdings in Biogen Inc. by 90.6% during the first quarter, now owning 44,488 shares valued at approximately $6.1 million.
• Biogen reported a strong earnings performance with an earnings per share (EPS) of $5.47 for the last quarter, surpassing estimates by $1.54, and a revenue of $2.65 billion, up 7.3% year-over-year.
• The stock's average rating is currently "Hold," with recent price targets set between $121.00 and $207.00 from various analysts, indicating varied outlooks on the stock's potential.

Trexquant Investment LP boosted its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 90.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 44,488 shares of the biotechnology company's stock after purchasing an additional 21,151 shares during the period. Trexquant Investment LP's holdings in Biogen were worth $6,088,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in BIIB. Colonial Trust Co SC boosted its holdings in shares of Biogen by 9,300.0% in the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock valued at $29,000 after acquiring an additional 186 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Biogen in the first quarter valued at about $26,000. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Biogen in the first quarter valued at about $27,000. Vision Financial Markets LLC purchased a new stake in shares of Biogen in the first quarter valued at about $27,000. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Biogen in the first quarter valued at about $29,000. Institutional investors and hedge funds own 87.93% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Biogen in a report on Thursday. Royal Bank Of Canada lifted their target price on shares of Biogen from $208.00 to $219.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Citigroup lifted their target price on shares of Biogen from $125.00 to $135.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Truist Financial started coverage on shares of Biogen in a research note on Monday, July 21st. They issued a "hold" rating and a $142.00 price objective for the company. Finally, Mizuho reduced their price objective on shares of Biogen from $207.00 to $169.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Eleven analysts have rated the stock with a Buy rating and twenty-one have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $185.74.

Insider Transactions at Biogen

In other Biogen news, insider Priya Singhal sold 517 shares of Biogen stock in a transaction dated 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 transaction, the insider owned 5,772 shares in the company, valued at approximately $770,850.60. The trade was 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. Also, insider Rachid Izzar sold 2,223 shares of Biogen stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total transaction of $300,105.00. Following the transaction, the insider owned 6,330 shares of the company's stock, valued at approximately $854,550. The trade was a 25.99% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Biogen Price Performance

Shares of NASDAQ BIIB traded down $1.68 during midday trading on Thursday, hitting $139.94. The company had a trading volume of 1,528,975 shares, compared to its average volume of 1,559,628. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $20.52 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 1.04 and a beta of 0.11. The business has a 50-day simple moving average of $132.10 and a two-hundred day simple moving average of $130.63. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $205.19.

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 company 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 quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Equities research analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

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.