Signaturefd LLC Has $574,000 Stake in Biogen Inc. $BIIB

Key Points

• Signaturefd LLC increased its stake in Biogen Inc. by 69.5%, holding a value of $574,000 after purchasing additional shares in the second quarter.
• A variety of institutional investors have recently modified their holdings in Biogen, with approximately 87.93% of the stock now owned by these investors.
• Biogen's latest earnings report revealed $5.47 earnings per share, significantly exceeding analysts' estimates of $3.93, resulting in a 7.3% year-over-year revenue increase.

Signaturefd LLC raised its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 69.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,571 shares of the biotechnology company's stock after purchasing an additional 1,874 shares during the quarter. Signaturefd LLC's holdings in Biogen were worth $574,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in shares of Biogen during the 1st quarter worth about $26,000. Vision Financial Markets LLC acquired a new position in shares of Biogen during the 1st quarter worth approximately $27,000. Greykasell Wealth Strategies Inc. bought a new stake in shares of Biogen during the 1st quarter worth approximately $27,000. Zions Bancorporation National Association UT acquired a new stake in shares of Biogen in the 1st quarter valued at approximately $29,000. Finally, Private Trust Co. NA increased its holdings in Biogen by 74.8% during the first 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 last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BIIB. Truist Financial initiated coverage on Biogen in a report on Monday, July 21st. They set a "hold" rating and a $142.00 price objective for the company. Morgan Stanley cut their price objective on shares of Biogen from $146.00 to $144.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Wedbush reaffirmed a "neutral" rating and set a $121.00 target price on shares of Biogen in a report on Thursday, June 12th. Royal Bank Of Canada lifted their price target on shares of Biogen from $208.00 to $219.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Finally, Jefferies Financial Group began coverage on Biogen in a research report on Thursday, September 25th. They set a "buy" rating and a $190.00 price target on the stock. Eleven research analysts have rated the stock with a Buy rating and twenty have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $182.04.

Insider Activity

In other Biogen news, insider Rachid Izzar sold 2,223 shares of Biogen stock in a transaction dated 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 $854,550. The trade was a 25.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Priya Singhal sold 517 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was 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 $770,850.60. This trade represents a 8.22% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

Biogen Stock Performance

NASDAQ BIIB opened at $140.08 on Wednesday. The firm's 50 day simple moving average is $136.53 and its 200 day simple moving average is $130.53. The firm has a market capitalization of $20.54 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of 1.09 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 $195.00.

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