Biogen Inc. $BIIB Shares Acquired by IFM Investors Pty Ltd

Key Points

• IFM Investors Pty Ltd increased its stake in Biogen Inc. by 6% during the second quarter, holding a total of 35,752 shares valued at $4.49 million.
• Insider selling activity was noted with Priya Singhal and Rachid Izzar selling 517 and 2,223 shares respectively, indicating a decrease in their stock ownership.
• Biogen's recent quarterly earnings report showed an EPS of $5.47, exceeding analysts' expectations of $3.93, and showcasing a year-over-year revenue increase of 7.3%.

IFM Investors Pty Ltd raised its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 6.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,752 shares of the biotechnology company's stock after acquiring an additional 2,023 shares during the quarter. IFM Investors Pty Ltd's holdings in Biogen were worth $4,490,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in shares of Biogen in the 1st quarter valued at $26,000. Vision Financial Markets LLC acquired a new stake in Biogen in the first quarter valued at $27,000. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Biogen in the first quarter valued at approximately $27,000. Zions Bancorporation National Association UT acquired a new stake in Biogen in the 1st quarter worth about $29,000. Finally, Private Trust Co. NA increased 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 acquiring an additional 98 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BIIB shares. Morgan Stanley lowered their price objective on shares of Biogen from $146.00 to $144.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Needham & Company LLC restated a "hold" rating on shares of Biogen in a research report on Thursday, September 4th. Truist Financial started coverage on shares of Biogen in a research note on Monday, July 21st. They set a "hold" rating and a $142.00 target price for the company. Piper Sandler increased their price target on Biogen from $115.00 to $118.00 and gave the company a "neutral" rating in a report on Friday, September 12th. Finally, Royal Bank Of Canada boosted their target price on shares of Biogen from $208.00 to $219.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Ten analysts have rated the stock with a Buy rating and twenty-one have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Biogen currently has an average rating of "Hold" and a consensus target price of $181.65.

Biogen Price Performance

NASDAQ:BIIB traded down $1.84 during trading hours on Monday, reaching $140.66. 1,445,805 shares of the company were exchanged, compared to its average volume of 1,618,855. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $199.99. The company has a market capitalization of $20.62 billion, a P/E ratio of 13.45, a P/E/G ratio of 1.12 and a beta of 0.11. The business has a 50 day moving average of $135.16 and a 200 day moving average of $130.65.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.32 billion. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business earned $5.28 EPS. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Research analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.

Insider Activity

In other news, insider Priya Singhal sold 517 shares of Biogen 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 completion of the transaction, the insider directly owned 5,772 shares in the company, valued at approximately $770,850.60. The trade was a 8.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rachid Izzar sold 2,223 shares of the company'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 completion of the transaction, the insider owned 6,330 shares of the company's stock, valued at $854,550. The trade was a 25.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

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.