Nuveen LLC Takes Position in Biogen Inc. $BIIB

Key Points

• Nuveen LLC has acquired a new position in Biogen Inc., purchasing 146,431 shares valued at approximately $20 million, representing 0.10% ownership of the company.
• Biogen reported a quarterly EPS of $5.47, beating analyst estimates by $1.54, and achieved a year-over-year revenue increase of 7.3% to $2.65 billion.
• The company's stock is rated a consensus "Hold" by analysts, with a current target price averaging $185.74, following recent adjustments from multiple research firms.

Nuveen LLC bought a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 146,431 shares of the biotechnology company's stock, valued at approximately $20,038,000. Nuveen LLC owned 0.10% of Biogen as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Biogen by 6.5% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 416,960 shares of the biotechnology company's stock worth $57,057,000 after buying an additional 25,464 shares during the period. Asset Management One Co. Ltd. boosted its holdings in shares of Biogen by 5.5% in the first quarter. Asset Management One Co. Ltd. now owns 61,420 shares of the biotechnology company's stock worth $8,405,000 after buying an additional 3,194 shares during the period. Assenagon Asset Management S.A. grew its stake in Biogen by 3.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 44,796 shares of the biotechnology company's stock valued at $6,130,000 after acquiring an additional 1,336 shares in the last quarter. Blackhawk Capital Partners LLC. purchased a new position in Biogen during the 1st quarter valued at about $382,000. Finally, PKO Investment Management Joint Stock Co purchased a new position in Biogen during the 4th quarter valued at about $1,193,000. Institutional investors and hedge funds own 87.93% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on BIIB shares. Oppenheimer set a $205.00 target price on Biogen in a research note on Friday, May 2nd. Citigroup lifted their target price on Biogen from $125.00 to $135.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Wedbush reaffirmed a "neutral" rating and set a $121.00 target price on shares of Biogen in a research note on Thursday, June 12th. Canaccord Genuity Group lowered their target price on Biogen from $265.00 to $220.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, HC Wainwright lifted their target price on Biogen from $187.00 to $194.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Eleven investment analysts have rated the stock with a Buy rating and twenty-one have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $185.74.

Biogen Stock Performance

Biogen stock traded down $1.5230 during trading hours on Monday, reaching $137.7870. 124,821 shares of the company were exchanged, compared to its average volume of 1,548,660. The firm has a market cap of $20.20 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 1.10 and a beta of 0.13. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average of $130.66 and a 200 day moving average of $130.67. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $206.70.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.93 by $1.54. The firm had revenue of $2.65 billion during 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%.The company's revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. As a group, research analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

Insider Transactions at Biogen

In other Biogen news, insider Rachid Izzar sold 2,223 shares of the company'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 transaction of $300,105.00. Following the completion of the sale, the insider owned 6,330 shares of the company's stock, valued at $854,550. This represents a 25.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by 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.