Biogen Inc. $BIIB Stake Lessened by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd reduced its stake in Biogen Inc. by 30%, selling 3,399 shares to bring its total holdings to 7,924 shares, valued at approximately $1.08 million.
• Various large institutional investors, including OVERSEA CHINESE BANKING Corp Ltd and AQR Capital Management LLC, significantly increased their holdings in Biogen, reflecting heightened interest in the biotechnology company.
• Despite insider selling and mixed analyst ratings, Biogen's stock recently rose by 2.7%, and the company reported better-than-expected earnings, with $5.47 EPS for the last quarter.

Gulf International Bank UK Ltd decreased its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 30.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,924 shares of the biotechnology company's stock after selling 3,399 shares during the period. Gulf International Bank UK Ltd's holdings in Biogen were worth $1,084,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BIIB. Opal Wealth Advisors LLC acquired a new position in Biogen during the 1st quarter worth approximately $26,000. Vision Financial Markets LLC acquired a new position in Biogen during the 1st quarter worth approximately $27,000. Greykasell Wealth Strategies Inc. acquired a new position in Biogen during the 1st quarter worth approximately $27,000. Colonial Trust Co SC increased 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 worth $29,000 after purchasing an additional 186 shares during the period. Finally, Zions Bancorporation National Association UT acquired a new position in Biogen during the 1st quarter worth approximately $29,000. Institutional investors and hedge funds own 87.93% of the company's stock.

Insider Buying and Selling at Biogen

In related news, insider Rachid Izzar sold 2,223 shares of the business's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total transaction of $300,105.00. Following the completion of the sale, the insider owned 6,330 shares of the company's stock, valued at $854,550. This represents a 25.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Biogen Stock Down 0.5%

Shares of Biogen stock traded down $0.6850 during trading on Wednesday, reaching $138.1750. The company had a trading volume of 471,403 shares, compared to its average volume of 1,557,890. The company has a market cap of $20.26 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.07 and a beta of 0.13. The firm's fifty day moving average is $130.24 and its 200-day moving average is $130.84. 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 fifty-two week low of $110.04 and a fifty-two week high of $207.59.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the prior year, the business posted $5.28 EPS. The company's revenue for the quarter was up 7.3% on a year-over-year basis. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. On average, analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

Analyst Ratings Changes

BIIB has been the subject of a number of research analyst reports. Robert W. Baird dropped their target price on shares of Biogen from $300.00 to $255.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. HSBC cut shares of Biogen from a "buy" rating to a "hold" rating and set a $118.00 price objective for the company. in a research note on Monday, April 28th. Hsbc Global Res cut shares of Biogen from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. 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 research note on Friday, August 1st. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Biogen in a research note on Thursday, June 12th. Eleven analysts have rated the stock with a Buy rating and twenty-one have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average 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.