Jacobs Levy Equity Management Inc. Makes New Investment in Biogen Inc. $BIIB

Jacobs Levy Equity Management Inc. bought a new position in Biogen Inc. (NASDAQ:BIIB - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 61,393 shares of the biotechnology company's stock, valued at approximately $8,401,000.

Several other large investors have also added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. boosted its stake in Biogen by 4.1% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 2,343 shares of the biotechnology company's stock worth $358,000 after purchasing an additional 92 shares during the period. Quent Capital LLC raised its holdings in shares of Biogen by 31.2% in the 1st quarter. Quent Capital LLC now owns 391 shares of the biotechnology company's stock valued at $54,000 after acquiring an additional 93 shares in the last quarter. CVA Family Office LLC raised its holdings in shares of Biogen by 71.1% in the 1st quarter. CVA Family Office LLC now owns 231 shares of the biotechnology company's stock valued at $32,000 after acquiring an additional 96 shares in the last quarter. Private Trust Co. NA raised its holdings in shares of Biogen by 74.8% in the 1st quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company's stock valued at $31,000 after acquiring an additional 98 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of Biogen by 0.9% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 12,598 shares of the biotechnology company's stock valued at $1,724,000 after acquiring an additional 110 shares in the last quarter. Institutional investors own 87.93% of the company's stock.

Biogen Stock Performance

Shares of NASDAQ BIIB opened at $140.67 on Monday. The stock has a market cap of $20.63 billion, a price-to-earnings ratio of 13.45, a P/E/G ratio of 1.11 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 1-year low of $110.04 and a 1-year high of $204.18. The stock's 50-day moving average is $132.65 and its 200 day moving average is $130.59.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share for the quarter, beating analysts' consensus estimates of $3.93 by $1.54. The company had revenue of $2.65 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the firm posted $5.28 EPS. 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.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 517 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rachid Izzar sold 2,223 shares of the firm's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total value of $300,105.00. Following the transaction, the insider owned 6,330 shares in the company, 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. 0.18% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on BIIB. Morgan Stanley lowered their price target on Biogen from $146.00 to $144.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. Truist Financial began coverage on Biogen in a report on Monday, July 21st. They issued a "hold" rating and a $142.00 price target on the stock. Piper Sandler raised their price target on Biogen from $115.00 to $118.00 and gave the company a "neutral" rating in a report on Thursday, August 14th. HC Wainwright raised their price target on Biogen from $187.00 to $194.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Royal Bank Of Canada raised their price target on Biogen from $208.00 to $219.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Eleven analysts have rated the stock with a Buy rating and twenty-one have given a Hold rating to the company's stock. Based on data from MarketBeat, Biogen has an average rating of "Hold" and an average target price of $185.74.

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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