Credit Agricole S A Has $5.52 Million Position in Biogen Inc. $BIIB

Key Points

• Credit Agricole S A increased its holdings in Biogen Inc. by 10.6% during the 1st quarter, owning 40,323 shares valued at approximately $5.5 million.
• Analysts have downgraded Biogen's stock, with HSBC changing its rating from "buy" to "hold" and setting a price target of $118.00, while the stock has an average rating of "hold" and a consensus target of $185.74.
• In the last quarterly earnings report, Biogen reported earnings per share of $5.47, surpassing estimates by $1.54, and a revenue of $2.65 billion, exceeding analyst expectations of $2.32 billion.

Credit Agricole S A increased its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 10.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,323 shares of the biotechnology company's stock after acquiring an additional 3,859 shares during the period. Credit Agricole S A's holdings in Biogen were worth $5,518,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of BIIB. Price T Rowe Associates Inc. MD increased its holdings in shares of Biogen by 1.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,933,716 shares of the biotechnology company's stock worth $295,705,000 after acquiring an additional 21,170 shares during the period. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Biogen by 43.4% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 6,788 shares of the biotechnology company's stock worth $1,038,000 after acquiring an additional 2,053 shares during the period. Syon Capital LLC increased its holdings in shares of Biogen by 190.1% in the 4th quarter. Syon Capital LLC now owns 3,937 shares of the biotechnology company's stock worth $602,000 after acquiring an additional 2,580 shares during the period. Integrated Wealth Concepts LLC increased its holdings in shares of Biogen by 185.1% in the 4th quarter. Integrated Wealth Concepts LLC now owns 4,479 shares of the biotechnology company's stock worth $685,000 after acquiring an additional 2,908 shares during the period. Finally, Coldstream Capital Management Inc. increased its holdings in shares of Biogen by 16.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,795 shares of the biotechnology company's stock worth $427,000 after acquiring an additional 398 shares during the period. Institutional investors and hedge funds own 87.93% of the company's stock.

Biogen Price Performance

Shares of BIIB traded down $0.46 during mid-day trading on Wednesday, hitting $136.26. The company's stock had a trading volume of 857,192 shares, compared to its average volume of 1,549,142. The firm has a 50-day moving average price of $130.97 and a 200 day moving average price of $130.68. The stock has a market capitalization of $19.98 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 1.07 and a beta of 0.13. 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 Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $206.70.

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 (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $2.32 billion. During the same quarter in the previous year, the company posted $5.28 EPS. The business'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, research analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Needham & Company LLC reissued a "hold" rating on shares of Biogen in a research note on Thursday, June 12th. Wedbush reissued a "neutral" rating and set a $121.00 target price on shares of Biogen in a research note on Thursday, June 12th. JPMorgan Chase & Co. lowered their target price on shares of Biogen from $185.00 to $175.00 and set a "neutral" rating on the stock in a research note on Monday, May 5th. Truist Financial assumed coverage on shares of Biogen in a research note on Monday, July 21st. They set a "hold" rating and a $142.00 target price on the stock. Finally, Oppenheimer set a $205.00 target price on shares of Biogen in a research note on Friday, May 2nd. Eleven equities research 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.com, the stock has a consensus rating of "Hold" and an average target price of $185.74.

Insider Activity at Biogen

In other Biogen news, insider Rachid Izzar sold 2,223 shares of the firm's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total value of $300,105.00. Following the completion of the transaction, the insider directly owned 6,330 shares in the company, valued at $854,550. This trade represents a 25.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.18% of the stock is currently owned by insiders.

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.