Jacobi Capital Management LLC Has $823,000 Stock Position in Biogen Inc. $BIIB

Key Points

• Jacobi Capital Management LLC increased its stake in Biogen by 52.3% to a total of 6,011 shares, valued at $823,000, in the first quarter.
• Various large investors, including Vanguard Group and AQR Capital Management, have also boosted their positions in Biogen, indicating strong institutional interest.
• Biogen's recent earnings surpass analysts' expectations, reporting $5.47 EPS against an estimated $3.93, showcasing a 7.3% increase in quarterly revenue compared to the previous year.

Jacobi Capital Management LLC lifted its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 52.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,011 shares of the biotechnology company's stock after purchasing an additional 2,064 shares during the period. Jacobi Capital Management LLC's holdings in Biogen were worth $823,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Biogen by 1.7% during the first quarter. Vanguard Group Inc. now owns 17,032,839 shares of the biotechnology company's stock valued at $2,330,774,000 after purchasing an additional 283,964 shares in the last quarter. Invesco Ltd. lifted its position in shares of Biogen by 6.4% during the first quarter. Invesco Ltd. now owns 2,265,007 shares of the biotechnology company's stock valued at $309,944,000 after purchasing an additional 136,200 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of 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 lifted its position in shares of 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 lifted its position in shares of Biogen by 8.1% during 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 in the last quarter. 87.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BIIB. Royal Bank Of Canada raised their price target on shares of Biogen from $208.00 to $219.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Citigroup raised their price target on shares of Biogen from $125.00 to $135.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Wedbush restated a "neutral" rating and set a $121.00 price objective on shares of Biogen in a report on Thursday, June 12th. HC Wainwright raised their price objective 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, Piper Sandler raised their price objective on shares of Biogen from $115.00 to $118.00 and gave the stock a "neutral" rating in a report on Thursday, August 14th. Ten investment analysts have rated the stock with a Buy rating and twenty-one have assigned a Hold rating to the stock. According to data from MarketBeat, Biogen presently has an average rating of "Hold" and a consensus target price of $181.65.

Insider Activity at Biogen

In other news, insider Priya Singhal sold 517 shares of the business'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 value of $69,045.35. Following the sale, the insider owned 5,772 shares of the company's stock, valued at $770,850.60. The trade was a 8.22% 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 Rachid Izzar sold 2,223 shares of the business's 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 completion of the sale, the insider directly owned 6,330 shares in the company, valued at approximately $854,550. This trade represents a 25.99% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Biogen Stock Performance

NASDAQ BIIB opened at $144.86 on Friday. The company's 50 day moving average is $133.99 and its 200-day moving average is $130.83. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $204.18. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36. The firm has a market cap of $21.24 billion, a P/E ratio of 13.85, a price-to-earnings-growth ratio of 1.17 and a beta of 0.11.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly 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 net margin of 15.31% and a return on equity of 13.85%. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the previous year, the firm posted $5.28 earnings per share. The company's quarterly revenue was up 7.3% compared to the same quarter last year. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Sell-side analysts predict 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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