Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 5,600 Shares of Biogen Inc. $BIIB

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund has reduced its stake in Biogen Inc. by 18.8%, holding a total of 24,221 shares worth approximately $3.31 million.
• Several institutional investors have increased their positions in Biogen, with Neuberger Berman Group LLC raising its stake by 100.2%.
• Analyst ratings for Biogen vary, with a consensus rating of "Hold" and a price target of $185.74, amidst fluctuating price objectives from several brokerages.

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 18.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,221 shares of the biotechnology company's stock after selling 5,600 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Biogen were worth $3,314,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Biogen by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 17,032,839 shares of the biotechnology company's stock worth $2,330,774,000 after purchasing an additional 283,964 shares during the period. Invesco Ltd. increased its stake in Biogen by 6.4% in the 1st quarter. Invesco Ltd. now owns 2,265,007 shares of the biotechnology company's stock worth $309,944,000 after purchasing an additional 136,200 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Biogen by 1.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,933,716 shares of the biotechnology company's stock worth $295,705,000 after purchasing an additional 21,170 shares during the period. Northern Trust Corp increased its stake in Biogen by 14.6% in the 4th quarter. Northern Trust Corp now owns 1,550,130 shares of the biotechnology company's stock worth $237,046,000 after purchasing an additional 196,995 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Biogen by 33.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,533,813 shares of the biotechnology company's stock worth $234,551,000 after purchasing an additional 381,122 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Stock Up 0.1%

Shares of NASDAQ BIIB traded up $0.13 during mid-day trading on Wednesday, hitting $138.99. 1,286,294 shares of the stock traded hands, compared to its average volume of 1,563,180. 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 Inc. has a 52 week low of $110.04 and a 52 week high of $207.59. The company has a market cap of $20.38 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 1.07 and a beta of 0.13. The stock has a fifty day moving average price of $130.24 and a 200-day moving average price of $130.84.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.32 billion. During the same period in the previous year, the company posted $5.28 earnings per share. The firm's revenue was up 7.3% on a year-over-year basis. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Research analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

Insider Buying and Selling

In other Biogen news, insider Rachid Izzar sold 2,223 shares of the business'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 directly owned 6,330 shares of the company's stock, valued at approximately $854,550. The trade was a 25.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

BIIB has been the topic of a number of analyst reports. Piper Sandler lifted their price target on Biogen from $115.00 to $118.00 and gave the stock a "neutral" rating in a research note on Thursday, August 14th. Oppenheimer set a $205.00 price objective on Biogen in a research report on Friday, May 2nd. Royal Bank Of Canada lifted their price objective on Biogen from $208.00 to $219.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. HC Wainwright lifted their price objective on Biogen from $187.00 to $194.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, Hsbc Global Res lowered Biogen from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Eleven analysts have rated the stock with a Buy rating and twenty-one have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $185.74.

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.