Guardian Investment Management Lowers Stock Position in Biogen Inc. $BIIB

Key Points

• Guardian Investment Management reduced its stake in Biogen Inc. by 27.4%, now holding 5,300 shares worth approximately $666,000.
• Biogen reported a strong quarterly earnings performance, achieving $5.47 EPS, exceeding analysts' estimates of $3.93, with revenue increasing by 7.3% year-over-year.
• The stock has shown some volatility, with a 52-week low of $110.04 and a high of $197.70, currently priced at $137.37.

Guardian Investment Management lessened its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 27.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,300 shares of the biotechnology company's stock after selling 2,000 shares during the quarter. Guardian Investment Management's holdings in Biogen were worth $666,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in Biogen during the first quarter worth about $26,000. Vision Financial Markets LLC purchased a new position in Biogen during the first quarter worth about $27,000. Greykasell Wealth Strategies Inc. purchased a new position in Biogen during the first quarter worth about $27,000. Zions Bancorporation National Association UT purchased a new position in Biogen during the first quarter worth about $29,000. Finally, Private Trust Co. NA boosted its stake in Biogen by 74.8% during the first quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company's stock worth $31,000 after buying an additional 98 shares during the period. Hedge funds and other institutional investors own 87.93% of the company's stock.

Biogen Stock Up 1.3%

Shares of Biogen stock opened at $137.37 on Friday. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $197.70. The company has a 50 day moving average of $135.97 and a 200 day moving average of $130.54. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $20.14 billion, a P/E ratio of 13.13, a P/E/G ratio of 1.08 and a beta of 0.11.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.93 by $1.54. Biogen had a net margin of 15.31% and a return on equity of 13.85%. 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 previous year, the firm earned $5.28 earnings per share. The firm's quarterly revenue was up 7.3% on a year-over-year basis. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. As a group, research analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 517 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total transaction of $69,045.35. Following the sale, the insider owned 5,772 shares of the company's stock, valued at approximately $770,850.60. This trade represents a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rachid Izzar sold 2,223 shares of the firm's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total transaction of $300,105.00. Following the sale, the insider directly owned 6,330 shares in the company, valued at approximately $854,550. The trade was a 25.99% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BIIB has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Biogen in a research note on Wednesday. HC Wainwright raised their price objective on shares of Biogen from $187.00 to $194.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Jefferies Financial Group started coverage on shares of Biogen in a research note on Thursday. They issued a "buy" rating and a $190.00 price objective for the company. Wedbush reissued a "neutral" rating and issued a $121.00 price objective on shares of Biogen in a research note on Thursday, June 12th. Finally, Truist Financial started coverage on shares of Biogen in a research note on Monday, July 21st. They issued a "hold" rating and a $142.00 price objective for the company. Eleven analysts have rated the stock with a Buy rating and twenty have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $182.04.

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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