Simplicity Wealth LLC Makes New $430,000 Investment in Biogen Inc. $BIIB

Key Points

• Simplicity Wealth LLC has made a new investment in Biogen Inc., purchasing 3,424 shares valued at approximately $430,000 during the second quarter.
• Biogen's stock has shown strong performance with a quarterly revenue increase of 7.3% year-over-year and >reported earnings of $5.47 per share, significantly exceeding consensus estimates.
• Several analysts have recently updated their ratings on Biogen, with Jefferies Financial Group initiating coverage and setting a "buy" rating and a price target of $190.00.

Simplicity Wealth LLC purchased a new position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,424 shares of the biotechnology company's stock, valued at approximately $430,000.

A number of other large investors also recently bought and sold shares of BIIB. NBC Securities Inc. acquired a new stake in shares of Biogen in the first quarter worth $35,000. UMB Bank n.a. increased its position in shares of Biogen by 88.0% in the first quarter. UMB Bank n.a. now owns 472 shares of the biotechnology company's stock worth $65,000 after acquiring an additional 221 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of Biogen by 32.9% in the first quarter. Park Avenue Securities LLC now owns 3,066 shares of the biotechnology company's stock worth $420,000 after acquiring an additional 759 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Biogen in the first quarter worth $308,000. Finally, GAMMA Investing LLC increased its position in shares of Biogen by 367.8% in the first quarter. GAMMA Investing LLC now owns 1,862 shares of the biotechnology company's stock worth $255,000 after acquiring an additional 1,464 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company's stock.

Insider Activity at Biogen

In other news, insider Priya Singhal sold 517 shares of Biogen stock in a transaction dated 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 directly owned 5,772 shares of the company's stock, valued at approximately $770,850.60. The trade was a 8.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.18% of the company's stock.

Biogen Price Performance

Shares of BIIB stock opened at $150.97 on Thursday. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $194.13. The firm has a fifty day moving average of $139.49 and a two-hundred day moving average of $131.13. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79. The firm has a market cap of $22.14 billion, a P/E ratio of 14.43, a P/E/G ratio of 1.20 and a beta of 0.13.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, beating the consensus estimate of $3.93 by $1.54. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period in the previous year, the business posted $5.28 EPS. 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 anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BIIB has been the subject of a number of recent analyst reports. Piper Sandler raised their price target on shares of Biogen from $115.00 to $118.00 and gave the company a "neutral" rating in a report on Friday, September 12th. Citigroup reaffirmed a "neutral" rating on shares of Biogen in a report on Wednesday, September 24th. Jefferies Financial Group initiated coverage on shares of Biogen in a report on Thursday, September 25th. They set a "buy" rating and a $190.00 price target for the company. Wedbush reaffirmed a "neutral" rating and set a $121.00 price target on shares of Biogen in a report on Thursday, June 12th. Finally, Truist Financial initiated coverage on shares of Biogen in a report on Monday, July 21st. They set a "hold" rating and a $142.00 price target for the company. Eleven research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $179.96.

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.

Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc. (NASDAQ:BIIB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.