Ethic Inc. Has $1.04 Million Stock Holdings in Biogen Inc. $BIIB

Key Points

• Ethic Inc. reduced its stake in Biogen Inc. by 47.3%, ending the quarter with 7,855 shares valued at approximately $1,037,000.
• Biogen reported $5.47 EPS in its latest quarterly earnings, significantly surpassing analysts' expectations of $3.93, and had revenues of $2.65 billion.
• Institutional investors now hold 87.93% of Biogen's stock, with significant increases in holdings reported from several major investment firms, including OVERSEA CHINESE BANKING Corp and AQR Capital Management.

Ethic Inc. lessened its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 47.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,855 shares of the biotechnology company's stock after selling 7,057 shares during the period. Ethic Inc.'s holdings in Biogen were worth $1,037,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Marshall Wace LLP raised its holdings in shares of Biogen by 20.6% in the 4th quarter. Marshall Wace LLP now owns 79,952 shares of the biotechnology company's stock worth $12,226,000 after buying an additional 13,652 shares in the last quarter. Freedom Investment Management Inc. grew its position in Biogen by 8.5% in the fourth quarter. Freedom Investment Management Inc. now owns 2,024 shares of the biotechnology company's stock valued at $310,000 after acquiring an additional 159 shares during the period. First Trust Advisors LP raised its stake in Biogen by 42.6% during the fourth quarter. First Trust Advisors LP now owns 511,280 shares of the biotechnology company's stock worth $78,185,000 after acquiring an additional 152,789 shares in the last quarter. Norinchukin Bank The raised its stake in Biogen by 9.7% during the fourth quarter. Norinchukin Bank The now owns 8,032 shares of the biotechnology company's stock worth $1,228,000 after acquiring an additional 711 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of Biogen by 1.8% during the fourth quarter. MetLife Investment Management LLC now owns 38,564 shares of the biotechnology company's stock valued at $5,897,000 after acquiring an additional 690 shares during the period. Institutional investors own 87.93% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BIIB shares. Piper Sandler upped their target price on shares of Biogen from $115.00 to $118.00 and gave the stock a "neutral" rating in a report on Thursday, August 14th. HC Wainwright upped their price objective on shares of Biogen from $187.00 to $194.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. HSBC lowered shares of Biogen from a "buy" rating to a "hold" rating and set a $118.00 price objective for the company. in a report on Monday, April 28th. Oppenheimer set a $205.00 target price on Biogen in a report on Friday, May 2nd. Finally, Canaccord Genuity Group decreased their price target on Biogen from $265.00 to $220.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Eleven equities research analysts have rated the stock with a Buy rating and twenty-one have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $185.74.

Biogen Trading Up 0.1%

Shares of NASDAQ BIIB traded up $0.19 during mid-day trading on Friday, hitting $139.31. The company's stock had a trading volume of 1,198,725 shares, compared to its average volume of 1,556,198. The company's fifty day simple moving average is $130.66 and its 200-day simple moving average is $130.85. 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 one year low of $110.04 and a one year high of $206.70. The stock has a market cap of $20.43 billion, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 1.10 and a beta of 0.13.

Biogen (NASDAQ:BIIB - Get Free Report) last released its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share for the quarter, beating the consensus estimate of $3.93 by $1.54. The firm had revenue of $2.65 billion for 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 company's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. On average, sell-side analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Transactions at Biogen

In related news, insider Rachid Izzar sold 2,223 shares of the business'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 value of $300,105.00. Following the completion of the transaction, the insider directly owned 6,330 shares in the company, valued at approximately $854,550. The trade was a 25.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.18% of the company's stock.

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.