Biogen Inc. $BIIB Shares Sold by AlphaQuest LLC

Key Points

• AlphaQuest LLC decreased its stake in Biogen Inc. by 60% in the first quarter, owning 8,327 shares worth approximately $1.14 million after selling 12,504 shares.
• Vanguard Group Inc. increased its holdings in Biogen, now owning 17,032,839 shares valued at around $2.33 billion, while other institutions like Invesco and Northern Trust also boosted their positions.
• Biogen reported a significant earnings per share (EPS) of $5.47 for the last quarter, beating estimates by $1.54, with a projected FY 2025 EPS guidance of 15.500 to 16.000.

AlphaQuest LLC trimmed its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 60.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,327 shares of the biotechnology company's stock after selling 12,504 shares during the quarter. AlphaQuest LLC's holdings in Biogen were worth $1,139,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Biogen by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 17,032,839 shares of the biotechnology company's stock worth $2,330,774,000 after acquiring an additional 283,964 shares in the last quarter. Invesco Ltd. boosted its position in shares of Biogen by 6.4% during the 1st quarter. Invesco Ltd. now owns 2,265,007 shares of the biotechnology company's stock worth $309,944,000 after acquiring an additional 136,200 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Biogen by 1.1% during 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 in the last quarter. Northern Trust Corp boosted its position in shares of Biogen by 14.6% during the 4th quarter. Northern Trust Corp now owns 1,550,130 shares of the biotechnology company's stock worth $237,046,000 after acquiring an additional 196,995 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Biogen by 33.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,533,813 shares of the biotechnology company's stock worth $234,551,000 after acquiring an additional 381,122 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Up 0.1%

BIIB opened at $139.31 on Friday. The business has a 50 day moving average price of $130.66 and a two-hundred day moving average price of $130.75. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36. The company has a market cap of $20.43 billion, a PE ratio of 13.32, a P/E/G ratio of 1.10 and a beta of 0.13. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $206.70.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, beating the consensus estimate of $3.93 by $1.54. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.32 billion. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The firm's revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the business earned $5.28 EPS. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. As a group, research analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

Wall Street Analysts Forecast Growth

BIIB has been the subject of several analyst reports. Piper Sandler upped their price objective on Biogen from $115.00 to $118.00 and gave the stock a "neutral" rating in a research report on Thursday, August 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of Biogen in a research report on Thursday, June 12th. Morgan Stanley reduced their target price on Biogen from $146.00 to $144.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Wall Street Zen raised Biogen from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Robert W. Baird reduced their target price on Biogen from $300.00 to $255.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Eleven 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, Biogen presently has an average rating of "Hold" and an average price target of $185.74.

Insider Buying and Selling

In other Biogen news, insider Rachid Izzar sold 2,223 shares of the company'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 directly owned 6,330 shares of the company's stock, valued at $854,550. This represents a 25.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by corporate 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.

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