Focus Partners Advisor Solutions LLC Takes Position in Biogen Inc. $BIIB

Key Points

• Focus Partners Advisor Solutions LLC has made a new investment in Biogen Inc., purchasing 5,301 shares valued at approximately $725,000 in the first quarter.
• Biogen's recent quarterly earnings beat estimates, reporting $5.47 EPS against a consensus estimate of $3.93 and a revenue of $2.65 billion, up 7.3% from the previous year.
• Analysts have raised their price targets for Biogen, with Royal Bank of Canada increasing its target from $208 to $219, reflecting a bullish outlook on the company's stock performance.

Focus Partners Advisor Solutions LLC acquired a new position in Biogen Inc. (NASDAQ:BIIB - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,301 shares of the biotechnology company's stock, valued at approximately $725,000.

Other institutional investors also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in Biogen during the 1st quarter valued at about $26,000. Vision Financial Markets LLC purchased a new stake in Biogen during the 1st quarter valued at about $27,000. Greykasell Wealth Strategies Inc. purchased a new stake in Biogen during the 1st quarter valued at about $27,000. Colonial Trust Co SC grew 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 valued at $29,000 after purchasing an additional 186 shares during the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in Biogen during the 1st quarter valued at about $29,000. 87.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. HC Wainwright raised their price target on shares of Biogen from $187.00 to $194.00 and gave the company a "buy" rating in a report on Friday, August 1st. Piper Sandler raised their price target on shares of Biogen from $115.00 to $118.00 and gave the company a "neutral" rating in a report on Thursday, August 14th. Royal Bank Of Canada raised their price objective on shares of Biogen from $208.00 to $219.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Wall Street Zen raised shares of Biogen from a "buy" rating to a "strong-buy" rating in a report on Friday, September 5th. Finally, Wedbush reissued a "neutral" rating and issued a $121.00 price objective on shares of Biogen in a report on Thursday, June 12th. Ten equities research analysts have rated the stock with a Buy rating and twenty-one have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $181.65.

Biogen Price Performance

Shares of Biogen stock traded down $2.91 on Wednesday, hitting $140.69. 273,508 shares of the company traded hands, compared to its average volume of 1,552,010. The stock has a market capitalization of $20.63 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 1.11 and a beta of 0.11. 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 $204.18. The business has a 50-day simple moving average of $133.24 and a 200 day simple moving average of $130.69.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (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 analysts' expectations of $2.32 billion. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The company's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Research analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Biogen

In other news, insider Rachid Izzar sold 2,223 shares of the company's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction, the insider owned 5,772 shares in the company, valued at approximately $770,850.60. The trade was a 8.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

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.