Candriam S.C.A. Has $25.56 Million Position in Biogen Inc. $BIIB

Key Points

• Candriam S.C.A. reduced its holdings in Biogen Inc. by 7.5%, now owning 186,780 shares valued at approximately $25.56 million.
• Other institutional investors significantly increased their positions in Biogen, with OVERSEA CHINESE BANKING Corp raising its holdings by 1,663.4% during the same period.
• Biogen reported a quarterly earnings per share (EPS) of $5.47, surpassing analysts’ expectations, which predicts earnings to reach 15.83 EPS for the current fiscal year.

Candriam S.C.A. reduced its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 7.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 186,780 shares of the biotechnology company's stock after selling 15,184 shares during the quarter. Candriam S.C.A. owned about 0.13% of Biogen worth $25,559,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Level Four Advisory Services LLC grew its holdings in Biogen by 116.3% during the first quarter. Level Four Advisory Services LLC now owns 16,154 shares of the biotechnology company's stock worth $2,211,000 after acquiring an additional 8,685 shares during the period. Humankind Investments LLC grew its holdings in Biogen by 16.2% during the first quarter. Humankind Investments LLC now owns 3,497 shares of the biotechnology company's stock worth $479,000 after acquiring an additional 487 shares during the period. EntryPoint Capital LLC grew its holdings in Biogen by 94.0% during the first quarter. EntryPoint Capital LLC now owns 3,179 shares of the biotechnology company's stock worth $435,000 after acquiring an additional 1,540 shares during the period. Credit Agricole S A grew its holdings in Biogen by 10.6% during the first quarter. Credit Agricole S A now owns 40,323 shares of the biotechnology company's stock worth $5,518,000 after acquiring an additional 3,859 shares during the period. Finally, Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in Biogen by 1.8% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 129,513 shares of the biotechnology company's stock worth $17,724,000 after acquiring an additional 2,231 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BIIB has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on Biogen from $185.00 to $175.00 and set a "neutral" rating on the stock in a research note on Monday, May 5th. Wedbush restated a "neutral" rating and set a $121.00 price objective on shares of Biogen in a research report on Thursday, June 12th. HC Wainwright raised their price objective on Biogen from $187.00 to $194.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Citigroup raised their price objective on Biogen from $125.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Finally, Morgan Stanley decreased their price objective on Biogen from $146.00 to $144.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Eleven investment analysts have rated the stock with a Buy rating and twenty-one have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $185.74.

Biogen Stock Up 0.1%

Shares of Biogen stock traded up $0.19 during trading on Friday, hitting $139.31. 1,198,725 shares of the stock traded hands, compared to its average volume of 1,556,198. The stock has a market cap of $20.43 billion, a P/E ratio of 13.32, a PEG ratio of 1.10 and a beta of 0.13. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $206.70. The company has a fifty day moving average price of $130.66 and a two-hundred day moving average price of $130.75.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (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 analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company earned $5.28 EPS. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Equities research analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Activity

In other news, insider Rachid Izzar sold 2,223 shares of Biogen stock in a transaction dated 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 in the company, valued at $854,550. The trade was a 25.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is currently owned by corporate insiders.

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.