Cwm LLC Acquires 6,639 Shares of Biogen Inc. $BIIB

Key Points

• Cwm LLC increased its holdings in Biogen Inc. by 23.6%, acquiring an additional 6,639 shares, bringing its total ownership to 34,782 shares valued at approximately $4.37 million.
• Biogen's stock price opened at $142.26, with a market capitalization of $20.86 billion and a P/E ratio of 13.60, while the stock has experienced a 1.0% decline.
• The company reported quarterly earnings of $5.47 EPS, surpassing estimates, and projected FY 2025 EPS guidance between 15.500-16.000.

Cwm LLC increased its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 23.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,782 shares of the biotechnology company's stock after purchasing an additional 6,639 shares during the quarter. Cwm LLC's holdings in Biogen were worth $4,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vision Financial Markets LLC bought a new position in shares of Biogen during the first quarter valued at $27,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Biogen during the first quarter valued at $27,000. Zions Bancorporation National Association UT bought a new position in Biogen in the first quarter valued at about $29,000. Private Trust Co. NA lifted its holdings in Biogen by 74.8% in the first 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. Finally, Financial Gravity Asset Management Inc. bought a new position in Biogen in the first quarter valued at about $40,000. 87.93% of the stock is owned by institutional investors.

Biogen Stock Down 1.0%

NASDAQ BIIB opened at $142.26 on Friday. The stock's 50-day moving average price is $141.29 and its 200-day moving average price is $131.36. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $191.19. The company has a market capitalization of $20.86 billion, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 1.14 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 firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter last year, the company earned $5.28 earnings per share. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. On average, equities research analysts predict that Biogen Inc. will post 15.83 earnings per share for the current year.

Insider Activity

In related news, insider Priya Singhal sold 517 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total transaction of $69,045.35. Following the completion of the sale, the insider owned 5,772 shares in the company, valued at approximately $770,850.60. This trade represents a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on BIIB. HC Wainwright increased their target price on Biogen from $187.00 to $194.00 and gave the company a "buy" rating in a report on Friday, August 1st. Citigroup reissued a "neutral" rating on shares of Biogen in a report on Wednesday, September 24th. Wall Street Zen raised Biogen from a "buy" rating to a "strong-buy" rating in a report on Sunday, September 28th. Royal Bank Of Canada lowered their target price on Biogen from $219.00 to $217.00 and set an "outperform" rating on the stock in a report on Wednesday, October 8th. Finally, Morgan Stanley increased their target price on Biogen from $144.00 to $149.00 and gave the company an "equal weight" rating in a report on Friday, October 10th. Eleven equities research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $180.69.

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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