Groupama Asset Managment Sells 1,940 Shares of Biogen Inc. $BIIB

Key Points

• Groupama Asset Management reduced its stake in Biogen Inc. by 19.7%, holding 7,932 shares valued at approximately $1.1 million as reported in their latest SEC filing.
• Institutional investors collectively own 87.93% of Biogen's stock, with notable recent increases in positions from firms like OVERSEA CHINESE BANKING Corp and AQR Capital Management.
• Biogen reported earnings per share of $5.47 for the last quarter, surpassing analyst estimates, and projecting a fiscal year 2025 guidance of 15.500-16.000 EPS.

Groupama Asset Managment lowered its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 19.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,932 shares of the biotechnology company's stock after selling 1,940 shares during the period. Groupama Asset Managment's holdings in Biogen were worth $1,098,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Israel Discount Bank of New York grew its holdings in shares of Biogen by 6.2% in the fourth quarter. Israel Discount Bank of New York now owns 1,405 shares of the biotechnology company's stock worth $215,000 after acquiring an additional 82 shares during the period. B. Riley Wealth Advisors Inc. grew its holdings in shares of Biogen by 4.1% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 2,343 shares of the biotechnology company's stock worth $358,000 after acquiring an additional 92 shares during the period. Quent Capital LLC grew its holdings in shares of Biogen by 31.2% in the first quarter. Quent Capital LLC now owns 391 shares of the biotechnology company's stock worth $54,000 after acquiring an additional 93 shares during the period. CVA Family Office LLC grew its holdings in shares of Biogen by 71.1% in the first quarter. CVA Family Office LLC now owns 231 shares of the biotechnology company's stock worth $32,000 after acquiring an additional 96 shares during the period. Finally, Private Trust Co. NA grew its holdings in shares of Biogen by 74.8% in the first quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company's stock worth $31,000 after acquiring an additional 98 shares during the period. Institutional investors own 87.93% of the company's stock.

Insider Activity at Biogen

In other news, insider Rachid Izzar sold 2,223 shares of the business's stock in a transaction dated Tuesday, July 8th. The stock was 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 $854,550. The trade was a 25.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by insiders.

Biogen Price Performance

Shares of Biogen stock traded up $0.19 during trading hours on Friday, hitting $139.31. The company's stock had a trading volume of 1,198,725 shares, compared to its average volume of 1,556,198. The business has a 50 day moving average price of $130.66 and a two-hundred day moving average price of $130.75. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $206.70. The company has a market cap of $20.43 billion, a PE ratio of 13.32, a PEG ratio of 1.10 and a beta of 0.13. 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 (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. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the business earned $5.28 earnings per share. The business'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. Analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

BIIB has been the subject of several research analyst reports. Wall Street Zen raised Biogen from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Canaccord Genuity Group lowered their target price on Biogen from $265.00 to $220.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. HC Wainwright lifted their target price on Biogen from $187.00 to $194.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Needham & Company LLC reiterated a "hold" rating on shares of Biogen in a research report on Thursday, June 12th. Finally, Robert W. Baird lowered their target price on Biogen from $300.00 to $255.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Eleven 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 company presently has a consensus rating of "Hold" and a consensus price target 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.