Biogen Inc. $BIIB Shares Acquired by Woodline Partners LP

Key Points

• Woodline Partners LP increased its holdings in Biogen Inc. by 42.0% in the 1st quarter, owning 125,162 shares valued at approximately $17.1 million.
• Biogen reported a $5.47 EPS for the latest quarter, exceeding analysts' expectations of $3.93, with a year-over-year revenue increase of 7.3% to $2.65 billion.
• Analysts have mixed ratings for Biogen, with target prices ranging from $118 to $219, resulting in a consensus rating of "Hold" and a target price of $181.65.

Woodline Partners LP increased its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 42.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 125,162 shares of the biotechnology company's stock after buying an additional 37,005 shares during the period. Woodline Partners LP owned about 0.09% of Biogen worth $17,127,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of BIIB. Opal Wealth Advisors LLC acquired a new position in shares of Biogen in the 1st quarter valued at about $26,000. Vision Financial Markets LLC acquired a new position in shares of Biogen in the 1st quarter valued at about $27,000. Greykasell Wealth Strategies Inc. acquired a new position in shares of Biogen in the 1st quarter valued at about $27,000. Zions Bancorporation National Association UT acquired a new position in shares of Biogen in the 1st quarter valued at about $29,000. Finally, Private Trust Co. NA boosted its holdings in shares of Biogen by 74.8% in the 1st quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company's stock valued at $31,000 after buying an additional 98 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Down 0.7%

BIIB stock opened at $142.61 on Thursday. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $204.18. The company has a market capitalization of $20.91 billion, a price-to-earnings ratio of 13.63, a price-to-earnings-growth ratio of 1.13 and a beta of 0.11. The firm's 50-day moving average is $133.42 and its two-hundred day moving average is $130.77. 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 (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the firm earned $5.28 EPS. Biogen'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. On average, analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Transactions at Biogen

In other Biogen news, insider Priya Singhal sold 517 shares of the business's 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 sale, the insider directly owned 5,772 shares in the company, valued at approximately $770,850.60. The trade was a 8.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rachid Izzar sold 2,223 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The stock was 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. The trade was 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 insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Royal Bank Of Canada boosted their target price on shares of Biogen from $208.00 to $219.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Morgan Stanley reduced their target price 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. Piper Sandler boosted their target price on shares of Biogen from $115.00 to $118.00 and gave the company a "neutral" rating in a research note on Thursday, August 14th. Citigroup boosted their target price 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, Needham & Company LLC reissued a "hold" rating on shares of Biogen in a research note on Thursday, September 4th. Ten research analysts have rated the stock with a Buy rating and twenty-one have given a Hold rating to the company. According to MarketBeat.com, Biogen presently has a consensus rating of "Hold" and a consensus price target of $181.65.

Biogen Profile

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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