Swedbank AB Acquires 33,994 Shares of Biogen Inc. $BIIB

Key Points

• Swedbank AB increased its stake in Biogen Inc. by 18.5%, acquiring an additional 33,994 shares, bringing its total ownership to approximately 218,039 shares worth around $29.8 million.
• A majority of the stock (87.93%) is held by institutional investors, with analysts rating Biogen as a "Hold" and setting a consensus target price of $181.65.
• In its latest earnings report, Biogen reported earnings per share of $5.47, exceeding expectations and showing a year-over-year revenue increase of 7.3%.

Swedbank AB boosted its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 18.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 218,039 shares of the biotechnology company's stock after buying an additional 33,994 shares during the quarter. Swedbank AB owned approximately 0.15% of Biogen worth $29,836,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in BIIB. Opal Wealth Advisors LLC bought a new stake in Biogen during the first quarter valued at approximately $26,000. Vision Financial Markets LLC bought a new stake in Biogen during the first quarter valued at approximately $27,000. Greykasell Wealth Strategies Inc. bought a new stake in Biogen during the first quarter valued at approximately $27,000. Zions Bancorporation National Association UT bought a new stake in Biogen during the first quarter valued at approximately $29,000. Finally, Private Trust Co. NA grew its position in Biogen by 74.8% during the first quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company's stock valued at $31,000 after buying an additional 98 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on BIIB. Needham & Company LLC reiterated a "hold" rating on shares of Biogen in a research report on Thursday, September 4th. Royal Bank Of Canada upped their price target on shares of Biogen from $208.00 to $219.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Morgan Stanley dropped their price target on shares of Biogen from $146.00 to $144.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Piper Sandler upped their price target on shares of Biogen from $115.00 to $118.00 and gave the stock a "neutral" rating in a research report on Thursday, August 14th. Finally, Citigroup upped their price target on shares of Biogen from $125.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Ten research analysts have rated the stock with a Buy rating and twenty-one have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $181.65.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $144.86 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50. The firm has a fifty day moving average price of $133.99 and a 200 day moving average price of $130.76. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $204.18. The firm has a market cap of $21.24 billion, a price-to-earnings ratio of 13.85, a P/E/G ratio of 1.17 and a beta of 0.11.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share for the quarter, topping analysts' consensus estimates of $3.93 by $1.54. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the prior year, the business earned $5.28 earnings per share. Biogen's revenue for the quarter 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, sell-side analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Rachid Izzar sold 2,223 shares of the company's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total transaction of $300,105.00. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Priya Singhal sold 517 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total transaction of $69,045.35. Following the sale, the insider directly owned 5,772 shares in the company, valued at approximately $770,850.60. The trade was a 8.22% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Biogen Company 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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