J. Safra Sarasin Holding AG Sells 7,635 Shares of Biogen Inc. $BIIB

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Biogen Inc. by 76.3% in the second quarter, selling 7,635 shares and leaving it with 2,374 shares valued at approximately $298,000 at the end of the reporting period.
• In its latest earnings report, Biogen exceeded estimates with an EPS of $5.47 and revenue of $2.65 billion, marking a year-over-year revenue increase of 7.3%.
• Biogen's average rating is "Hold" among analysts, with a consensus price target of $181.24, and significant institutional ownership at 87.93%.

J. Safra Sarasin Holding AG trimmed its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 76.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,374 shares of the biotechnology company's stock after selling 7,635 shares during the period. J. Safra Sarasin Holding AG's holdings in Biogen were worth $298,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC purchased a new position in Biogen in the first quarter valued at about $26,000. Vision Financial Markets LLC bought a new stake in shares of Biogen in the 1st quarter worth approximately $27,000. Greykasell Wealth Strategies Inc. purchased a new position in Biogen in the first quarter valued at approximately $27,000. Zions Bancorporation National Association UT bought a new position in Biogen during the first quarter valued at $29,000. Finally, Private Trust Co. NA increased its position in Biogen by 74.8% in 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 last quarter. Institutional investors own 87.93% of the company's stock.

Biogen Stock Performance

Shares of NASDAQ BIIB opened at $159.88 on Monday. The stock's 50-day moving average is $138.02 and its 200 day moving average is $130.75. The stock has a market cap of $23.44 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 1.26 and a beta of 0.13. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $194.13. 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 (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, topping the consensus estimate 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 return on equity of 13.85% and a net margin of 15.31%.Biogen's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. On average, sell-side analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other Biogen news, insider Rachid Izzar sold 2,223 shares of the business's stock in a transaction on 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 sale, the insider directly 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Priya Singhal sold 517 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total value of $69,045.35. Following the transaction, the insider directly owned 5,772 shares in the company, valued at $770,850.60. This trade represents a 8.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

BIIB has been the topic of a number of recent research reports. HC Wainwright upped their price target on Biogen from $187.00 to $194.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Jefferies Financial Group started coverage on Biogen in a research note on Thursday, September 25th. They issued a "buy" rating and a $190.00 price objective on the stock. Wedbush reiterated a "neutral" rating and set a $121.00 target price on shares of Biogen in a research report on Thursday, June 12th. Needham & Company LLC reiterated a "hold" rating on shares of Biogen in a research note on Wednesday, September 24th. Finally, Royal Bank Of Canada upped their price target 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. Eleven research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Biogen has an average rating of "Hold" and a consensus price target of $181.24.

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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