Biogen Inc. $BIIB Shares Purchased by Czech National Bank

Key Points

• The Czech National Bank increased its holdings in Biogen Inc. by 6.5%, owning 35,816 shares valued at approximately $4.5 million.
• Analysts have given Biogen varied ratings, with ten analysts rating it a "Buy" and twenty-one rating it a "Hold", reflecting mixed investor sentiment about the stock's performance.
• Biogen reported earnings of $5.47 EPS for the last quarter, exceeding estimates and revealing a 7.3% year-over-year revenue increase.

Czech National Bank raised its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 6.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,816 shares of the biotechnology company's stock after purchasing an additional 2,196 shares during the period. Czech National Bank's holdings in Biogen were worth $4,498,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB grew its holdings in Biogen by 21.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 617 shares of the biotechnology company's stock valued at $77,000 after purchasing an additional 107 shares during the period. Parallel Advisors LLC grew its holdings in Biogen by 170.4% in the second quarter. Parallel Advisors LLC now owns 4,354 shares of the biotechnology company's stock valued at $547,000 after purchasing an additional 2,744 shares during the period. Investors Research Corp acquired a new stake in Biogen in the second quarter valued at approximately $232,000. AG2R LA Mondiale Gestion D Actifs acquired a new stake in Biogen in the first quarter valued at approximately $992,000. Finally, Swedbank AB grew its holdings in Biogen by 18.5% in the first quarter. Swedbank AB now owns 218,039 shares of the biotechnology company's stock valued at $29,836,000 after purchasing an additional 33,994 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on BIIB shares. Citigroup raised their price objective on Biogen from $125.00 to $135.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Needham & Company LLC reissued a "hold" rating on shares of Biogen in a report on Thursday, September 4th. Royal Bank Of Canada lifted their price target on Biogen from $208.00 to $219.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. HC Wainwright lifted their price target on Biogen from $187.00 to $194.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, Wall Street Zen raised Biogen from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 5th. Ten analysts have rated the stock with a Buy rating and twenty-one have issued a Hold rating to the company. According to data from MarketBeat, Biogen has a consensus rating of "Hold" and a consensus target price of $181.65.

Insider Buying and Selling at Biogen

In related news, insider Rachid Izzar sold 2,223 shares of the business's stock in a transaction 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 transaction, the insider directly owned 6,330 shares of the company's stock, valued at $854,550. The trade was a 25.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Priya Singhal sold 517 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total value of $69,045.35. Following the transaction, the insider directly owned 5,772 shares of the company's stock, valued at $770,850.60. The trade was a 8.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Biogen Trading Down 0.7%

Shares of NASDAQ BIIB opened at $143.81 on Friday. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $204.18. The stock has a market capitalization of $21.09 billion, a PE ratio of 13.75, a PEG ratio of 1.14 and a beta of 0.11. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36. The stock has a fifty day simple moving average of $134.85 and a 200-day simple moving average of $130.92.

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. On average, equities analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current year.

Biogen Company 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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