Sector Gamma AS Purchases 32,000 Shares of Biogen Inc. $BIIB

Key Points

• Sector Gamma AS increased its holdings in Biogen Inc. by 171.7% by purchasing 32,000 shares, bringing its total ownership to 50,639 shares valued at approximately $6.36 million.
• Institutional investors own 87.93% of Biogen stock, indicating strong institutional support for the company, with several hedge funds also increasing their stakes.
• Biogen's recent quarterly earnings surpassed estimates with an EPS of $5.47 against a forecast of $3.93, and the firm has set a fiscal year 2025 EPS guidance of 15.500-16.000.

Sector Gamma AS raised its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 171.7% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 50,639 shares of the biotechnology company's stock after buying an additional 32,000 shares during the period. Biogen comprises approximately 2.1% of Sector Gamma AS's holdings, making the stock its 19th largest holding. Sector Gamma AS's holdings in Biogen were worth $6,360,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Biogen by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 17,032,839 shares of the biotechnology company's stock valued at $2,330,774,000 after buying an additional 283,964 shares during the last quarter. Invesco Ltd. boosted its position in 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 buying an additional 136,200 shares during the last quarter. AQR Capital Management LLC boosted its position in 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 buying an additional 829,150 shares during the last quarter. Amundi boosted its position in Biogen by 8.1% in the 1st quarter. Amundi now owns 1,315,947 shares of the biotechnology company's stock valued at $172,007,000 after buying an additional 98,957 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Biogen by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,019,219 shares of the biotechnology company's stock valued at $139,470,000 after buying an additional 47,956 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. William Blair reiterated an "outperform" rating on shares of Biogen in a research report on Wednesday, September 24th. Jefferies Financial Group started coverage on Biogen in a research note on Thursday, September 25th. They issued a "buy" rating and a $190.00 price target on the stock. Rothschild & Co Redburn increased their price target on Biogen from $149.00 to $150.00 and gave the company a "neutral" rating in a research note on Monday, October 6th. Wedbush increased their price target on Biogen from $129.00 to $135.00 and gave the company a "neutral" rating in a research note on Tuesday, October 14th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Biogen in a research note on Wednesday, September 24th. Eleven research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $180.69.

Insider Buying and Selling

In related news, insider Priya Singhal sold 517 shares of the firm's stock in a transaction 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 sale, the insider 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.18% of the company's stock.

Biogen Stock Performance

Shares of Biogen stock opened at $150.08 on Friday. The company has a market capitalization of $22.00 billion, a PE ratio of 14.35, a PEG ratio of 1.17 and a beta of 0.13. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $187.58. 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's fifty day simple moving average is $142.80 and its 200 day simple moving average is $132.03.

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