Yousif Capital Management LLC trimmed its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 13.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,751 shares of the biotechnology company's stock after selling 2,956 shares during the quarter. Yousif Capital Management LLC's holdings in Biogen were worth $2,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently made changes to their positions in BIIB. GAMMA Investing LLC lifted its stake in shares of Biogen by 367.8% in the 1st quarter. GAMMA Investing LLC now owns 1,862 shares of the biotechnology company's stock valued at $255,000 after purchasing an additional 1,464 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Biogen by 15.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 19,049 shares of the biotechnology company's stock valued at $2,607,000 after buying an additional 2,606 shares in the last quarter. Exchange Traded Concepts LLC increased its position in Biogen by 5.2% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,405 shares of the biotechnology company's stock valued at $329,000 after buying an additional 119 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Biogen by 45.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 17,941 shares of the biotechnology company's stock valued at $2,455,000 after buying an additional 5,620 shares in the last quarter. Finally, QRG Capital Management Inc. increased its position in Biogen by 55.1% in the 1st quarter. QRG Capital Management Inc. now owns 4,039 shares of the biotechnology company's stock valued at $553,000 after buying an additional 1,435 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts recently commented on the company. Royal Bank Of Canada decreased their target price on Biogen from $219.00 to $217.00 and set an "outperform" rating for the company in a research report on Wednesday, October 8th. Citigroup reaffirmed a "neutral" rating on shares of Biogen in a research report on Wednesday, September 24th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Biogen in a research report on Wednesday, October 8th. HC Wainwright boosted their target price on Biogen from $187.00 to $194.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Wall Street Zen raised Biogen from a "buy" rating to a "strong-buy" rating in a report on Sunday, September 28th. Eleven equities research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Biogen has a consensus rating of "Hold" and a consensus target price of $180.69.
Read Our Latest Research Report on Biogen
Biogen Stock Performance
Shares of BIIB opened at $143.00 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 stock has a 50 day moving average price of $141.53 and a two-hundred day moving average price of $131.43. The firm has a market capitalization of $20.97 billion, a P/E ratio of 13.67, a P/E/G ratio of 1.13 and a beta of 0.13. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $191.19.
Biogen (NASDAQ:BIIB - Get Free Report) last released its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.93 by $1.54. The company 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%.Biogen's quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Equities analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.
Insider Activity
In other news, insider Priya Singhal sold 517 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was 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 $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 SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by corporate insiders.
About Biogen
(
Free Report)
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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