Caisse DE Depot ET Placement DU Quebec Takes $11.21 Million Position in Biogen Inc. $BIIB

Key Points

• Caisse DE Depot ET Placement DU Quebec has acquired 81,900 shares of Biogen Inc., valued at approximately $11.2 million, increasing its stake to about 0.06% in the biotechnology company.
• Several institutional investors, including Vanguard Group and Deutsche Bank AG, have adjusted their holdings in Biogen, reflecting a broader interest from large investors with institutional ownership at 87.93%.
• Biogen reported Q2 earnings of $5.47 per share, exceeding expectations, with a revenue of $2.65 billion, which is a 7.3% increase from the previous year, leading to a positive outlook for FY 2025 guidance.

Caisse DE Depot ET Placement DU Quebec purchased a new stake in Biogen Inc. (NASDAQ:BIIB - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 81,900 shares of the biotechnology company's stock, valued at approximately $11,207,000. Caisse DE Depot ET Placement DU Quebec owned approximately 0.06% of Biogen at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Integrated Wealth Concepts LLC raised its holdings in Biogen by 185.1% during the fourth quarter. Integrated Wealth Concepts LLC now owns 4,479 shares of the biotechnology company's stock worth $685,000 after acquiring an additional 2,908 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in Biogen by 16.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,795 shares of the biotechnology company's stock worth $427,000 after acquiring an additional 398 shares in the last quarter. Beacon Pointe Advisors LLC raised its holdings in Biogen by 10.7% during the fourth quarter. Beacon Pointe Advisors LLC now owns 1,537 shares of the biotechnology company's stock worth $235,000 after acquiring an additional 149 shares in the last quarter. Northern Trust Corp raised its holdings in Biogen by 14.6% during the fourth 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, Lido Advisors LLC raised its holdings in Biogen by 2,364.3% during the fourth quarter. Lido Advisors LLC now owns 41,598 shares of the biotechnology company's stock worth $6,361,000 after acquiring an additional 39,910 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Biogen

In other Biogen news, insider Rachid Izzar sold 2,223 shares of the firm's stock in a transaction 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 sale, the insider owned 6,330 shares of the company's stock, valued at approximately $854,550. This trade represents a 25.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

BIIB has been the topic of several analyst reports. Mizuho dropped their target price on Biogen from $207.00 to $169.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. JPMorgan Chase & Co. dropped their price objective on Biogen from $185.00 to $175.00 and set a "neutral" rating on the stock in a research note on Monday, May 5th. HC Wainwright upped their price objective on Biogen from $187.00 to $194.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Wedbush restated a "neutral" rating and issued a $121.00 price objective on shares of Biogen in a research note on Thursday, June 12th. Finally, Royal Bank Of Canada upped their price objective on Biogen from $208.00 to $219.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Eleven research analysts have rated the stock with a Buy rating and twenty-one have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $185.74.

Biogen Price Performance

NASDAQ:BIIB traded down $0.43 during trading hours on Monday, reaching $132.22. 1,081,750 shares of the company were exchanged, compared to its average volume of 1,387,363. The company has a market capitalization of $19.39 billion, a P/E ratio of 12.64, a P/E/G ratio of 1.04 and a beta of 0.11. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $206.70. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79. The business has a 50 day moving average of $131.40 and a 200 day moving average of $130.53.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.93 by $1.54. The business had revenue of $2.65 billion for 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 quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Research analysts forecast that Biogen Inc. will post 15.83 EPS for the current 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.