Biogen Inc. $BIIB Shares Sold by Campbell & CO Investment Adviser LLC

Key Points

• Campbell & CO Investment Adviser LLC has reduced its position in Biogen Inc. by 62.1%, selling 18,936 shares and now holding 11,573 shares valued at approximately $1.58 million.
• Several institutional investors have increased their stakes in Biogen, notably OVERSEA CHINESE BANKING Corp Ltd, which raised its stake by 1,663.4%, bringing its total to 780,567 shares worth about $106.8 million.
• Equities analysts have adjusted price targets for Biogen, with Mizuho reducing its target from $207.00 to $169.00, while Citigroup increased its target from $125.00 to $135.00.

Campbell & CO Investment Adviser LLC lowered its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 62.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 11,573 shares of the biotechnology company's stock after selling 18,936 shares during the quarter. Campbell & CO Investment Adviser LLC's holdings in Biogen were worth $1,584,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Colonial Trust Co SC lifted its position in Biogen by 9,300.0% during the 4th quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock worth $29,000 after acquiring an additional 186 shares during the period. Opal Wealth Advisors LLC acquired a new position in shares of Biogen in the 1st quarter valued at about $26,000. Greykasell Wealth Strategies Inc. acquired a new position in shares of Biogen in the 1st quarter valued at about $27,000. Vision Financial Markets LLC acquired a new position in shares of Biogen in the 1st quarter valued at about $27,000. Finally, Zions Bancorporation National Association UT acquired a new position in shares of Biogen in the 1st quarter valued at about $29,000. Institutional investors and hedge funds own 87.93% of the company's stock.

Analysts Set New Price Targets

BIIB has been the subject of several analyst reports. Piper Sandler boosted their price objective on Biogen from $115.00 to $118.00 and gave the company a "neutral" rating in a report on Thursday, August 14th. Truist Financial initiated coverage on Biogen in a report on Monday, July 21st. They issued a "hold" rating and a $142.00 price objective for the company. HC Wainwright boosted their price objective on Biogen from $187.00 to $194.00 and gave the company a "buy" rating in a report on Friday, August 1st. Royal Bank Of Canada upped their price target on Biogen from $208.00 to $219.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Finally, Wedbush reaffirmed a "neutral" rating and issued a $121.00 price target on shares of Biogen in a report on Thursday, June 12th. Eleven research analysts have rated the stock with a Buy rating and twenty-one have given a Hold rating to the stock. According to MarketBeat, Biogen currently has an average rating of "Hold" and a consensus price target of $185.74.

Insider Activity

In other news, insider Rachid Izzar sold 2,223 shares of the company'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 sale, the insider directly owned 6,330 shares in the company, valued at $854,550. This represents a 25.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by company insiders.

Biogen Price Performance

NASDAQ:BIIB traded down $0.43 during trading hours on Friday, hitting $132.22. 1,081,750 shares of the stock were exchanged, compared to its average volume of 1,473,140. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $206.70. The firm's fifty day moving average price is $131.40 and its 200 day moving average price is $130.58. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36. The company has a market cap of $19.39 billion, a P/E ratio of 12.64, a P/E/G ratio of 1.04 and a beta of 0.13.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, topping the consensus estimate of $3.93 by $1.54. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period in the previous year, the business earned $5.28 EPS. Biogen's quarterly revenue was up 7.3% on a year-over-year basis. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. As a group, equities research analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

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.