Teza Capital Management LLC Buys New Stake in Biogen Inc. $BIIB

Key Points

• Teza Capital Management LLC acquired a new stake in Biogen Inc., purchasing 2,551 shares valued at approximately $349,000.
• Institutional investors now own 87.93% of Biogen's stock, reflecting significant interest from hedge funds and asset management firms.
• Recent analyst ratings for Biogen include upgrades, with Wall Street Zen raising its rating to "strong-buy" and Royal Bank Of Canada increasing the price target from $208 to $219.

Teza Capital Management LLC bought a new position in Biogen Inc. (NASDAQ:BIIB - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,551 shares of the biotechnology company's stock, valued at approximately $349,000.

A number of other institutional investors also recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. lifted its stake in shares of Biogen by 4.1% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 2,343 shares of the biotechnology company's stock worth $358,000 after acquiring an additional 92 shares during the period. Quent Capital LLC lifted its stake in shares of Biogen by 31.2% in the 1st quarter. Quent Capital LLC now owns 391 shares of the biotechnology company's stock worth $54,000 after acquiring an additional 93 shares during the period. CVA Family Office LLC lifted its stake in shares of Biogen by 71.1% in the 1st quarter. CVA Family Office LLC now owns 231 shares of the biotechnology company's stock worth $32,000 after acquiring an additional 96 shares during the period. Private Trust Co. NA lifted its stake in shares of Biogen by 74.8% in the 1st quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company's stock worth $31,000 after acquiring an additional 98 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its stake in shares of Biogen by 0.9% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 12,598 shares of the biotechnology company's stock worth $1,724,000 after acquiring an additional 110 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Biogen

In other Biogen news, insider Priya Singhal sold 517 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total value of $69,045.35. Following the transaction, the insider owned 5,772 shares in the company, valued at approximately $770,850.60. This represents a 8.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rachid Izzar sold 2,223 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider owned 6,330 shares in the company, valued at approximately $854,550. This represents a 25.99% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BIIB has been the subject of several recent research reports. Royal Bank Of Canada increased their target price on shares of Biogen from $208.00 to $219.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. HC Wainwright increased their target price on shares of Biogen from $187.00 to $194.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Needham & Company LLC reissued a "hold" rating on shares of Biogen in a research note on Thursday, September 4th. Citigroup increased their target price on shares of Biogen from $125.00 to $135.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Finally, Wedbush reissued a "neutral" rating and set a $121.00 target price on shares of Biogen in a research note on Thursday, June 12th. Ten research analysts have rated the stock with a Buy rating and twenty-one have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $181.65.

Biogen Trading Down 2.7%

Shares of BIIB stock traded down $3.98 during trading hours on Friday, reaching $144.86. 1,810,678 shares of the stock traded hands, compared to its average volume of 1,444,912. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $204.18. The business has a fifty day moving average price of $133.99 and a 200 day moving average price of $130.83. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $21.24 billion, a PE ratio of 13.85, a PEG ratio of 1.17 and a beta of 0.11.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.93 by $1.54. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.32 billion. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The firm's revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. On average, equities research analysts forecast 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.