Investors Research Corp Invests $232,000 in Biogen Inc. $BIIB

Key Points

• Investors Research Corp has recently acquired a new stake in Biogen Inc., purchasing 1,850 shares valued at approximately $232,000.
• Several institutional investors have increased their holdings in Biogen, with Vanguard Group now owning over $2.33 billion worth of shares following a 1.7% increase in their position.
• Analysts have mixed ratings on Biogen, with ten giving it a "Buy" rating and twenty-one maintaining a "Hold" rating, resulting in a consensus price target of $181.65.

Investors Research Corp acquired a new stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,850 shares of the biotechnology company's stock, valued at approximately $232,000.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Biogen by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 17,032,839 shares of the biotechnology company's stock valued at $2,330,774,000 after acquiring an additional 283,964 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Biogen by 6.4% during the 1st quarter. Invesco Ltd. now owns 2,265,007 shares of the biotechnology company's stock worth $309,944,000 after purchasing an additional 136,200 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Biogen by 33.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,533,813 shares of the biotechnology company's stock valued at $234,551,000 after purchasing an additional 381,122 shares in the last quarter. AQR Capital Management LLC boosted its position in Biogen by 153.6% during the first quarter. AQR Capital Management LLC now owns 1,368,842 shares of the biotechnology company's stock valued at $187,258,000 after purchasing an additional 829,150 shares in the last quarter. Finally, Amundi grew its stake in Biogen by 8.1% in the first quarter. Amundi now owns 1,315,947 shares of the biotechnology company's stock valued at $172,007,000 after purchasing an additional 98,957 shares during the last quarter. Institutional investors own 87.93% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Needham & Company LLC reissued a "hold" rating on shares of Biogen in a research report on Thursday, September 4th. Royal Bank Of Canada boosted 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. Piper Sandler raised their target price on shares of Biogen from $115.00 to $118.00 and gave the company a "neutral" rating in a research note on Thursday, August 14th. HC Wainwright lifted their price target on shares of Biogen from $187.00 to $194.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, Morgan Stanley decreased their price objective on Biogen from $146.00 to $144.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Ten investment 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, the company has an average rating of "Hold" and a consensus price target of $181.65.

Insider Activity

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 completion of the transaction, the insider directly owned 5,772 shares of the company's stock, valued at approximately $770,850.60. This trade represents a 8.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Rachid Izzar sold 2,223 shares of Biogen stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total transaction of $300,105.00. Following the sale, the insider owned 6,330 shares of the company's stock, valued at approximately $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.

Biogen Trading Down 2.7%

NASDAQ:BIIB opened at $144.86 on Friday. The company has a market capitalization of $21.24 billion, a P/E ratio of 13.85, a PEG ratio of 1.17 and a beta of 0.11. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $204.18. The firm has a fifty day simple moving average of $133.99 and a 200-day simple moving average of $130.76.

Biogen (NASDAQ:BIIB - Get Free Report) last released its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (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 firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the prior year, the firm earned $5.28 EPS. The firm'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. On average, equities research analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

Biogen 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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