BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 25,875 Shares of Biogen Inc. $BIIB

Key Points

• BNP PARIBAS ASSET MANAGEMENT Holding S.A. sold 25,875 shares of Biogen Inc., decreasing its position by 14.5%, resulting in ownership of 152,593 shares worth approximately $20.88 million.
• Biogen's latest earnings report revealed an EPS of $5.47, exceeding estimates by $1.54, along with a 7.3% year-over-year revenue increase.
• Analyst ratings for Biogen vary, with a consensus rating of "Hold" and a target price of $185.74, while multiple firms have recently adjusted their price targets.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 14.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 152,593 shares of the biotechnology company's stock after selling 25,875 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.10% of Biogen worth $20,880,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in BIIB. Israel Discount Bank of New York increased its holdings in shares of Biogen by 6.2% in the 4th quarter. Israel Discount Bank of New York now owns 1,405 shares of the biotechnology company's stock worth $215,000 after purchasing an additional 82 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in shares of Biogen by 4.1% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 2,343 shares of the biotechnology company's stock valued at $358,000 after buying an additional 92 shares during the last quarter. Quent Capital LLC increased its holdings in Biogen by 31.2% in the 1st quarter. Quent Capital LLC now owns 391 shares of the biotechnology company's stock worth $54,000 after buying an additional 93 shares in the last quarter. CVA Family Office LLC raised its position in Biogen by 71.1% in the 1st quarter. CVA Family Office LLC now owns 231 shares of the biotechnology company's stock worth $32,000 after buying an additional 96 shares during the last quarter. Finally, Private Trust Co. NA lifted its stake in Biogen by 74.8% during the 1st quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company's stock valued at $31,000 after acquiring an additional 98 shares during the period. Institutional investors own 87.93% of the company's stock.

Insider Buying and Selling

In other Biogen news, insider Rachid Izzar sold 2,223 shares of the firm'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 transaction, the insider owned 6,330 shares in the company, valued at $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. Insiders own 0.18% of the company's stock.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $138.60 on Monday. The firm has a market cap of $20.32 billion, a price-to-earnings ratio of 13.25, a P/E/G ratio of 1.09 and a beta of 0.13. The firm has a fifty day moving average price of $130.13 and a 200 day moving average price of $130.84. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $207.59. 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 (NASDAQ:BIIB - Get Free Report) last released 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 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 business's 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. As a group, sell-side analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on BIIB shares. Morgan Stanley reduced their price target on shares of Biogen from $146.00 to $144.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st. Oppenheimer set a $205.00 target price on shares of Biogen in a research report on Friday, May 2nd. Citigroup boosted their target price on shares of Biogen from $125.00 to $135.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Royal Bank Of Canada raised 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. Finally, Wall Street Zen raised Biogen from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Twenty-one investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $185.74.

About Biogen

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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