NorthRock Partners LLC Invests $391,000 in Biogen Inc. $BIIB

Key Points

• NorthRock Partners LLC has invested $391,000 in Biogen Inc. by purchasing 3,116 shares during the 2nd quarter.
• Biogen reported a quarterly earnings per share (EPS) of $5.47, exceeding analysts' estimates of $3.93, with a revenue of $2.65 billion.
• Analysts maintain a consensus rating of "Hold" for Biogen, with an average price target of $180.69 according to recent brokerage reports.

NorthRock Partners LLC purchased a new stake in Biogen Inc. (NASDAQ:BIIB - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,116 shares of the biotechnology company's stock, valued at approximately $391,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BIIB. Vanguard Group Inc. raised its position in Biogen by 1.7% in the first quarter. Vanguard Group Inc. now owns 17,032,839 shares of the biotechnology company's stock worth $2,330,774,000 after acquiring an additional 283,964 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Biogen by 6.4% in the 1st 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. AQR Capital Management LLC increased its holdings in shares of Biogen by 153.6% in the 1st 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. Amundi lifted its stake in shares of 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 period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Biogen by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,019,219 shares of the biotechnology company's stock worth $139,470,000 after buying an additional 47,956 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company's stock.

Biogen Stock Performance

Biogen stock opened at $143.66 on Thursday. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $192.16. The company has a market capitalization of $21.06 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 1.15 and a beta of 0.13. The stock has a fifty day moving average of $141.00 and a two-hundred day moving average of $131.32. 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 posted its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, beating analysts' consensus estimates of $3.93 by $1.54. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter last year, the company earned $5.28 earnings per share. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. On average, analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BIIB. Truist Financial initiated coverage on shares of Biogen in a report on Monday, July 21st. They issued a "hold" rating and a $142.00 target price for the company. HC Wainwright upped their price target on Biogen from $187.00 to $194.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Wall Street Zen raised Biogen from a "buy" rating to a "strong-buy" rating in a report on Sunday, September 28th. Jefferies Financial Group started coverage on Biogen in a research report on Thursday, September 25th. They set a "buy" rating and a $190.00 target price on the stock. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Biogen in a research report on Wednesday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $180.69.

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 completion of the transaction, 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 filing with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.

About Biogen

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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