Biogen Inc. $BIIB Shares Sold by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. reduced its stake in Biogen Inc. by 1.1%, now holding 448,757 shares valued at approximately $56.36 million.
• Analysts have a mixed outlook on Biogen, with a consensus rating of "Hold" and an average target price of $181.24, while some firms have set target prices as high as $194.00.
• Biogen's recent quarterly results exceeded expectations with an EPS of $5.47 and revenue of $2.65 billion, indicating a year-over-year revenue increase of 7.3%.

Robeco Institutional Asset Management B.V. decreased its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 1.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 448,757 shares of the biotechnology company's stock after selling 4,772 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.31% of Biogen worth $56,359,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Opal Wealth Advisors LLC acquired a new stake in shares of Biogen in the 1st quarter valued at about $26,000. Vision Financial Markets LLC acquired a new stake in shares of Biogen in the 1st quarter valued at about $27,000. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Biogen in the 1st quarter valued at about $27,000. Zions Bancorporation National Association UT acquired a new stake in shares of Biogen in the 1st quarter valued at about $29,000. Finally, Private Trust Co. NA raised its stake 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 purchasing an additional 98 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BIIB shares. Wedbush restated a "neutral" rating and issued a $121.00 target price on shares of Biogen in a research note on Thursday, June 12th. Wall Street Zen upgraded shares of Biogen from a "buy" rating to a "strong-buy" rating in a research note on Sunday, September 28th. HC Wainwright upped their target price on shares of Biogen from $187.00 to $194.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Truist Financial initiated coverage on shares of Biogen in a research report on Monday, July 21st. They set a "hold" rating and a $142.00 price objective for the company. Finally, Jefferies Financial Group initiated coverage on shares of Biogen in a research report on Thursday, September 25th. They set a "buy" rating and a $190.00 price objective for the company. Eleven equities research analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the company's stock. According to data from MarketBeat, Biogen has a consensus rating of "Hold" and an average target price of $181.24.

Insider Activity at Biogen

In related news, insider Rachid Izzar sold 2,223 shares of the firm's stock in a transaction on Tuesday, July 8th. The shares were 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 in the company, valued at approximately $854,550. This trade represents a 25.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Priya Singhal sold 517 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total transaction of $69,045.35. Following the completion of the sale, the insider directly owned 5,772 shares of the company's stock, valued at approximately $770,850.60. This trade represents a 8.22% 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 corporate insiders.

Biogen Stock Up 0.7%

BIIB stock opened at $155.25 on Friday. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $194.13. The firm has a market cap of $22.76 billion, a PE ratio of 14.84, a P/E/G ratio of 1.22 and a beta of 0.13. The firm has a 50 day simple moving average of $137.45 and a 200 day simple moving average of $130.78. 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 (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.32 billion. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.28 EPS. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Equities research analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

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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