Generali Asset Management SPA SGR Purchases 2,518 Shares of Biogen Inc. $BIIB

Key Points

• Generali Asset Management SPA SGR increased its stake in Biogen Inc. by 6.4% during Q2, purchasing an additional 2,518 shares, bringing its total holdings to 41,682 shares valued at approximately $5.24 million.
• Institutional investors collectively own 87.93% of Biogen's stock, reflecting strong confidence in the company's prospects.
• Biogen's stock has a current consensus rating of "Hold" from analysts, with a price target averaging $180.69, as the company continues to explore treatments for neurological diseases.

Generali Asset Management SPA SGR grew its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 6.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,682 shares of the biotechnology company's stock after purchasing an additional 2,518 shares during the quarter. Generali Asset Management SPA SGR's holdings in Biogen were worth $5,235,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vision Financial Markets LLC bought a new position in shares of Biogen in the first quarter valued at approximately $27,000. Greykasell Wealth Strategies Inc. bought a new position in Biogen during the first quarter worth $27,000. Zions Bancorporation National Association UT bought a new position in Biogen during the first quarter worth $29,000. Concord Wealth Partners increased its position in Biogen by 100.0% during the second quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company's stock worth $29,000 after acquiring an additional 114 shares during the period. Finally, Private Trust Co. NA boosted its stake in shares of Biogen by 74.8% in the 1st quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company's stock valued at $31,000 after purchasing an additional 98 shares in the last quarter. Institutional investors own 87.93% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Rothschild & Co Redburn increased their price objective on shares of Biogen from $149.00 to $150.00 and gave the stock a "neutral" rating in a report on Monday, October 6th. Jefferies Financial Group assumed coverage on shares of Biogen in a research report on Thursday, September 25th. They set a "buy" rating and a $190.00 target price on the stock. Wall Street Zen upgraded shares of Biogen from a "buy" rating to a "strong-buy" rating in a report on Sunday, September 28th. Needham & Company LLC reaffirmed a "hold" rating on shares of Biogen in a research note on Wednesday, September 24th. Finally, Citigroup reaffirmed a "neutral" rating on shares of Biogen in a research note on Wednesday, September 24th. Eleven investment analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $180.69.

Insider Activity

In related news, insider Priya Singhal sold 517 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total value of $69,045.35. Following the transaction, the insider directly owned 5,772 shares in the company, valued at $770,850.60. This trade represents a 8.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.18% of the company's stock.

Biogen Stock Down 1.1%

Shares of NASDAQ BIIB opened at $143.66 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 company has a market cap of $21.06 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 1.15 and a beta of 0.13. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $192.16. The stock has a 50-day moving average price of $141.00 and a two-hundred day moving average price of $131.32.

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. 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 the consensus estimate of $2.32 billion. During the same quarter in the prior year, the firm posted $5.28 earnings per share. The firm's revenue was up 7.3% compared to the same quarter last year. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. As a group, analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

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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