Nordea Investment Management AB Purchases 6,811 Shares of Biogen Inc. $BIIB

Nordea Investment Management AB increased its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 5.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 125,935 shares of the biotechnology company's stock after buying an additional 6,811 shares during the period. Nordea Investment Management AB owned 0.09% of Biogen worth $15,810,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Wedmont Private Capital boosted its holdings in shares of Biogen by 3.8% during the 2nd quarter. Wedmont Private Capital now owns 2,190 shares of the biotechnology company's stock worth $291,000 after buying an additional 81 shares during the period. Private Trust Co. NA boosted its holdings in shares of Biogen by 74.8% during the 1st 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 period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Biogen by 21.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 617 shares of the biotechnology company's stock worth $77,000 after buying an additional 107 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in shares of Biogen by 0.9% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 12,598 shares of the biotechnology company's stock worth $1,724,000 after buying an additional 110 shares during the period. Finally, Capital Investment Advisors LLC boosted its holdings in shares of Biogen by 5.4% during the 2nd quarter. Capital Investment Advisors LLC now owns 2,164 shares of the biotechnology company's stock worth $272,000 after buying an additional 111 shares during the period. 87.93% of the stock is owned by institutional investors.

Insider Activity at Biogen

In other news, 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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on BIIB. Piper Sandler upped their price objective on shares of Biogen from $115.00 to $118.00 and gave the stock a "neutral" rating in a report on Friday, September 12th. Royal Bank Of Canada reduced their price target on shares of Biogen from $219.00 to $217.00 and set an "outperform" rating for the company in a report on Wednesday, October 8th. William Blair reissued an "outperform" rating on shares of Biogen in a report on Wednesday, September 24th. Jefferies Financial Group assumed coverage on shares of Biogen in a report on Thursday, September 25th. They issued a "buy" rating and a $190.00 price target for the company. Finally, HC Wainwright increased their price target on shares of Biogen from $187.00 to $194.00 and gave the company a "buy" rating in a report on Friday, August 1st. Eleven analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $180.69.

Biogen Price Performance

NASDAQ:BIIB opened at $143.00 on Monday. The company has a 50-day moving average of $141.53 and a 200-day moving average of $131.44. The company has a market capitalization of $20.97 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 1.13 and a beta of 0.13. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $191.19. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, topping analysts' consensus estimates of $3.93 by $1.54. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.32 billion. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the firm earned $5.28 EPS. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. As a group, equities research analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

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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