Biogen Inc. $BIIB Stake Lifted by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its stake in Biogen Inc. by 17.1%, acquiring an additional 10,195 shares, bringing its total holdings to 69,729 shares valued at approximately $9.54 million.
• Research firms have raised their price targets for Biogen, with estimates ranging from $135.00 to $265.00, and eleven analysts currently rate the stock as a "Buy."
• Biogen reported a strong quarterly earnings performance with an EPS of $5.47, significantly exceeding analyst expectations of $3.93, leading to revenue of $2.65 billion for the quarter.

Ieq Capital LLC boosted its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 17.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,729 shares of the biotechnology company's stock after buying an additional 10,195 shares during the quarter. Ieq Capital LLC's holdings in Biogen were worth $9,542,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Colonial Trust Co SC lifted its holdings in Biogen by 9,300.0% in the 4th quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock worth $29,000 after buying an additional 186 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in Biogen in the 1st quarter worth $26,000. Greykasell Wealth Strategies Inc. acquired a new position in Biogen in the 1st quarter worth $27,000. Vision Financial Markets LLC acquired a new position in Biogen in the 1st quarter worth $27,000. Finally, Zions Bancorporation National Association UT acquired a new position in Biogen in the 1st quarter worth $29,000. Institutional investors and hedge funds own 87.93% of the company's stock.

Insider Buying and Selling

In other Biogen 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 completion of the transaction, the insider owned 6,330 shares in the company, valued at approximately $854,550. This represents a 25.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.18% of the company's stock.

Biogen Stock Performance

BIIB traded down $0.43 on Monday, hitting $132.22. 1,081,750 shares of the company's stock were exchanged, compared to its average volume of 1,387,363. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $206.70. 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 firm has a market cap of $19.39 billion, a PE ratio of 12.64, a P/E/G ratio of 1.04 and a beta of 0.11. The stock has a fifty day moving average of $131.40 and a two-hundred day moving average of $130.53.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, topping the consensus estimate of $3.93 by $1.54. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The firm had revenue of $2.65 billion during the quarter, compared to analysts' expectations of $2.32 billion. During the same quarter in the prior year, the firm earned $5.28 EPS. Biogen'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. On average, research analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Biogen from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Royal Bank Of Canada upped their target price on shares of Biogen from $208.00 to $219.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Wedbush restated a "neutral" rating and issued a $121.00 target price on shares of Biogen in a research note on Thursday, June 12th. Truist Financial assumed coverage on shares of Biogen in a research note on Monday, July 21st. They issued a "hold" rating and a $142.00 target price on the stock. Finally, Morgan Stanley cut their target price on shares of Biogen from $146.00 to $144.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Eleven investment analysts have rated the stock with a Buy rating and twenty-one have assigned a Hold rating to the company. According to data from MarketBeat, Biogen presently has a consensus rating of "Hold" and an average target price of $185.74.

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.