Vident Advisory LLC Grows Stake in Biogen Inc. $BIIB

Key Points

• Vident Advisory LLC increased its stake in Biogen Inc. by 392.8%, purchasing an additional 5,444 shares and valuing its holdings at approximately $935,000.
• Major institutional investors, such as OVERSEA CHINESE BANKING Corp Ltd, have drastically increased their positions in Biogen, with some raising stakes by over 1,600% in the first quarter alone.
• Analysts have mixed opinions on Biogen, with ratings ranging from "buy" to "neutral," while the consensus price target stands at $185.74.

Vident Advisory LLC lifted its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 392.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,830 shares of the biotechnology company's stock after purchasing an additional 5,444 shares during the period. Vident Advisory LLC's holdings in Biogen were worth $935,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of BIIB. OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of Biogen by 1,663.4% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 780,567 shares of the biotechnology company's stock worth $106,813,000 after purchasing an additional 736,301 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Biogen by 63.7% during the fourth quarter. Deutsche Bank AG now owns 1,169,570 shares of the biotechnology company's stock worth $178,851,000 after purchasing an additional 455,285 shares in the last quarter. AustralianSuper Pty Ltd purchased a new stake in shares of Biogen during the first quarter worth about $54,421,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Biogen by 33.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,533,813 shares of the biotechnology company's stock worth $234,551,000 after purchasing an additional 381,122 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC increased its stake in shares of Biogen by 214.9% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 461,120 shares of the biotechnology company's stock worth $70,514,000 after purchasing an additional 314,669 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BIIB shares. HC Wainwright boosted their price target on shares of Biogen from $187.00 to $194.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Piper Sandler boosted 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. Wedbush restated a "neutral" rating and set a $121.00 price target on shares of Biogen in a research report on Thursday, June 12th. Wall Street Zen upgraded shares of Biogen from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Morgan Stanley lowered their price target on shares of Biogen from $146.00 to $144.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Eleven investment analysts have rated the stock with a Buy rating and twenty-one have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $185.74.

Insider Activity

In other news, insider Rachid Izzar sold 2,223 shares of the business'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 value of $300,105.00. Following the sale, the insider directly owned 6,330 shares of the company's stock, valued at approximately $854,550. The trade was a 25.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Priya Singhal sold 517 shares of the business'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 transaction of $69,045.35. Following the completion of the sale, the insider directly owned 5,772 shares in the company, valued at $770,850.60. This trade represents a 8.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Biogen Stock Performance

NASDAQ:BIIB opened at $139.94 on Friday. 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 capitalization of $20.52 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.12 and a beta of 0.11. The company's 50-day moving average is $132.36 and its two-hundred day moving average is $130.65. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $205.19.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share for the quarter, beating the consensus estimate of $3.93 by $1.54. The company 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%. Biogen's revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business posted $5.28 EPS. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. 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.

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