Biogen Inc. $BIIB Shares Acquired by Farmers Trust Co.

Key Points

• Farmers Trust Co. increased its stake in Biogen Inc. by 98.7%, owning 29,527 shares valued at approximately $3.7 million as of the latest SEC filing.
• Biogen's earnings report for the last quarter revealed an EPS of $5.47, exceeding analyst expectations of $3.93, and a revenue of $2.65 billion, up 7.3% year-over-year.
• Wall Street analysts rate Biogen's stock with ten Buy ratings and twenty-one Hold ratings, with an average target price of $181.65.

Farmers Trust Co. lifted its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 98.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,527 shares of the biotechnology company's stock after purchasing an additional 14,666 shares during the period. Farmers Trust Co.'s holdings in Biogen were worth $3,708,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new position in shares of Biogen during the 1st quarter worth approximately $26,000. Vision Financial Markets LLC acquired a new position in shares of Biogen during the 1st quarter worth approximately $27,000. Greykasell Wealth Strategies Inc. acquired a new position in shares of Biogen during the 1st quarter worth approximately $27,000. Zions Bancorporation National Association UT acquired a new position in shares of Biogen during the 1st quarter worth approximately $29,000. Finally, Private Trust Co. NA boosted its holdings in shares of Biogen by 74.8% during the 1st quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company's stock worth $31,000 after purchasing an additional 98 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BIIB. Truist Financial assumed coverage on Biogen in a research report on Monday, July 21st. They issued a "hold" rating and a $142.00 price objective for the company. Piper Sandler lifted their target price on Biogen from $115.00 to $118.00 and gave the company a "neutral" rating in a research report on Friday, September 12th. Wedbush restated a "neutral" rating and issued a $121.00 target price on shares of Biogen in a research report on Thursday, June 12th. Royal Bank Of Canada lifted their target price on Biogen from $208.00 to $219.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Finally, Morgan Stanley reduced their target price on Biogen from $146.00 to $144.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Ten investment analysts have rated the stock with a Buy rating and twenty-one have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $181.65.

Insider Activity

In other news, insider Priya Singhal sold 517 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total transaction of $69,045.35. Following the completion of the transaction, the insider directly owned 5,772 shares of the company's stock, valued at approximately $770,850.60. This represents a 8.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Rachid Izzar sold 2,223 shares of the company's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total value of $300,105.00. Following the transaction, the insider directly owned 6,330 shares of the company's stock, valued at approximately $854,550. This represents a 25.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

Biogen Trading Down 1.3%

BIIB opened at $140.66 on Tuesday. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $199.99. The stock has a market capitalization of $20.62 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 1.12 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. The business has a fifty day moving average price of $135.16 and a 200 day moving average price of $130.65.

Biogen (NASDAQ:BIIB - Get Free Report) last released its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, topping the consensus estimate of $3.93 by $1.54. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The firm had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.32 billion. During the same period in the previous year, the firm posted $5.28 EPS. Biogen's revenue for the quarter was up 7.3% on a year-over-year basis. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Sell-side analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal 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.

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