Wealth Enhancement Advisory Services LLC Buys 8,818 Shares of Biogen Inc. $BIIB

Key Points

• Wealth Enhancement Advisory Services LLC increased its holdings in Biogen Inc. by 46.3%, acquiring an additional 8,818 shares, bringing their total to 27,867 shares valued at approximately $3.7 million.
• Biogen's stock has recently received mixed ratings, with a consensus price target of $182.04 and eleven analysts rating it as a buy, while twenty maintain a hold rating.
• Biogen reported a quarterly earnings per share (EPS) of $5.47, significantly exceeding analysts' expectations, alongside revenue of $2.65 billion, up 7.3% year-over-year.

Wealth Enhancement Advisory Services LLC increased its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 46.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,867 shares of the biotechnology company's stock after purchasing an additional 8,818 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Biogen were worth $3,703,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Biogen by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 17,032,839 shares of the biotechnology company's stock valued at $2,330,774,000 after purchasing an additional 283,964 shares during the period. Invesco Ltd. lifted its stake in shares of Biogen by 6.4% in the 1st quarter. Invesco Ltd. now owns 2,265,007 shares of the biotechnology company's stock valued at $309,944,000 after purchasing an additional 136,200 shares during the period. AQR Capital Management LLC lifted its stake in shares of Biogen by 153.6% in the 1st quarter. AQR Capital Management LLC now owns 1,368,842 shares of the biotechnology company's stock valued at $187,258,000 after purchasing an additional 829,150 shares during the period. Amundi lifted its stake in shares of Biogen by 8.1% in the 1st quarter. Amundi now owns 1,315,947 shares of the biotechnology company's stock valued at $172,007,000 after purchasing an additional 98,957 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Biogen by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,019,219 shares of the biotechnology company's stock valued at $139,470,000 after purchasing an additional 47,956 shares during the period. Hedge funds and other institutional investors own 87.93% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on BIIB. Wall Street Zen cut Biogen from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 20th. Needham & Company LLC reiterated a "hold" rating on shares of Biogen in a research note on Wednesday. Piper Sandler lifted their price objective on Biogen from $115.00 to $118.00 and gave the company a "neutral" rating in a research note on Friday, September 12th. William Blair reiterated an "outperform" rating on shares of Biogen in a research note on Wednesday. Finally, Citigroup reiterated a "neutral" rating on shares of Biogen in a research note on Wednesday. Eleven research analysts have rated the stock with a Buy rating and twenty have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $182.04.

Biogen Stock Up 1.3%

Biogen stock opened at $137.37 on Friday. The firm has a market cap of $20.14 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 1.07 and a beta of 0.11. The stock has a fifty day simple moving average of $135.97 and a two-hundred day simple moving average of $130.61. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $197.70. 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 (NASDAQ:BIIB - Get Free Report) last posted its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, topping analysts' consensus estimates of $3.93 by $1.54. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.32 billion. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The company's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $5.28 EPS. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Equities analysts predict that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Priya Singhal sold 517 shares of the company's stock in a transaction on 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 sale, the insider owned 5,772 shares in the company, valued at approximately $770,850.60. This represents a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $300,105.00. Following the sale, the insider owned 6,330 shares of the company's stock, valued at approximately $854,550. This trade 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.

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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