Erste Asset Management GmbH Reduces Holdings in Biogen Inc. $BIIB

Key Points

• Erste Asset Management GmbH has reduced its holdings in Biogen Inc. by 14.1%, owning 50,956 shares valued at approximately $7,051,000 after selling 8,360 shares in the first quarter.
• Despite Erste's divestment, several other institutional investors, including CVA Family Office LLC and Private Trust Co. NA, significantly increased their positions by over **71%** during the same period.
• Biogen's latest quarterly earnings reported an EPS of $5.47, exceeding expectations and reflecting a 7.3% year-over-year revenue growth.

Erste Asset Management GmbH lessened its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 14.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,956 shares of the biotechnology company's stock after selling 8,360 shares during the period. Erste Asset Management GmbH's holdings in Biogen were worth $7,051,000 at the end of the most recent reporting period.

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

Biogen Price Performance

Shares of Biogen stock opened at $138.99 on Thursday. 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 firm has a market capitalization of $20.38 billion, a PE ratio of 13.29, a price-to-earnings-growth ratio of 1.09 and a beta of 0.13. The business's 50-day moving average price is $130.35 and its 200-day moving average price is $130.90. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $207.59.

Biogen (NASDAQ:BIIB - Get Free Report) last announced 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 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 revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company earned $5.28 EPS. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Sell-side analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Activity at Biogen

In other news, insider Rachid Izzar sold 2,223 shares of the stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total transaction of $300,105.00. Following the transaction, the insider directly owned 6,330 shares in the company, valued at approximately $854,550. This represents 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 link. Company insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BIIB shares. The Goldman Sachs Group dropped their price objective on Biogen from $219.00 to $197.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley dropped their price objective on Biogen from $146.00 to $144.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. Needham & Company LLC reissued a "hold" rating on shares of Biogen in a report on Thursday, June 12th. Royal Bank Of Canada increased their price objective on Biogen from $208.00 to $219.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Finally, Citigroup increased their price objective on Biogen from $125.00 to $135.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating and twenty-one have assigned a Hold rating to the company. Based on data from MarketBeat.com, Biogen has a consensus rating of "Hold" and a consensus target price of $185.74.

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.

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