B. Metzler seel. Sohn & Co. AG Raises Stake in Biogen Inc. $BIIB

Key Points

• B. Metzler seel. Sohn & Co. AG increased its stake in Biogen Inc. by 23.2% in the first quarter, owning a total of 12,482 shares valued at approximately $1.7 million.
• Multiple institutional investors have significantly modified their holdings in Biogen, with OVERSEA CHINESE BANKING Corp Ltd increasing its stake by an impressive 1,663.4%.
• Biogen reported an EPS of $5.47 for the quarter, surpassing analysts' expectations of $3.93 and reflecting a year-over-year revenue increase of 7.3%.

B. Metzler seel. Sohn & Co. AG increased its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 23.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,482 shares of the biotechnology company's stock after buying an additional 2,354 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Biogen were worth $1,708,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Colonial Trust Co SC grew its holdings in shares of Biogen by 9,300.0% during the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock valued at $29,000 after buying an additional 186 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in Biogen during the first quarter valued at $26,000. Greykasell Wealth Strategies Inc. acquired a new position in Biogen during the first quarter valued at $27,000. Vision Financial Markets LLC acquired a new position in Biogen during the first quarter valued at $27,000. Finally, Zions Bancorporation National Association UT acquired a new position in Biogen during the first quarter valued at $29,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Biogen

In related news, insider Rachid Izzar sold 2,223 shares of Biogen stock in a transaction 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Priya Singhal sold 517 shares of Biogen stock in a transaction 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 owned 5,772 shares in the company, valued at $770,850.60. This represents a 8.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Biogen Stock Up 5.6%

Shares of BIIB traded up $7.41 during midday trading on Tuesday, reaching $139.63. The stock had a trading volume of 2,466,484 shares, compared to its average volume of 1,555,473. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $206.70. The company's fifty day simple moving average is $131.55 and its two-hundred day simple moving average is $130.49. The company has a market cap of $20.47 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 1.04 and a beta of 0.11. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share 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 business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period last year, the business earned $5.28 EPS. The company's revenue was up 7.3% on a year-over-year basis. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Equities research analysts expect that Biogen Inc. will post 15.83 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Morgan Stanley decreased 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 report on Friday, August 1st. Wedbush reissued a "neutral" rating and issued a $121.00 price target on shares of Biogen in a research note on Thursday, June 12th. Needham & Company LLC reissued a "hold" rating on shares of Biogen in a research report on Thursday, June 12th. Citigroup increased their target price on shares of Biogen from $125.00 to $135.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Finally, Wall Street Zen upgraded shares of Biogen from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Eleven 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, the company currently has an average rating of "Hold" and an average price target of $185.74.

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.