Biogen Inc. $BIIB Shares Purchased by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd increased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 7.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,671 shares of the biotechnology company’s stock after acquiring an additional 1,186 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Biogen were worth $2,418,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of BIIB. Captrust Financial Advisors boosted its position in shares of Biogen by 49.6% during the 4th quarter. Captrust Financial Advisors now owns 9,712 shares of the biotechnology company’s stock valued at $1,485,000 after acquiring an additional 3,218 shares during the last quarter. Cetera Investment Advisers grew its position in shares of Biogen by 3.1% during the fourth quarter. Cetera Investment Advisers now owns 13,269 shares of the biotechnology company’s stock worth $2,029,000 after buying an additional 400 shares in the last quarter. Focus Partners Wealth grew its position in shares of Biogen by 37.5% during the fourth quarter. Focus Partners Wealth now owns 3,737 shares of the biotechnology company’s stock worth $578,000 after buying an additional 1,020 shares in the last quarter. LMR Partners LLP grew its position in shares of Biogen by 78.5% during the fourth quarter. LMR Partners LLP now owns 14,500 shares of the biotechnology company’s stock worth $2,217,000 after buying an additional 6,379 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in Biogen by 128.3% in the fourth quarter. Lazard Asset Management LLC now owns 54,476 shares of the biotechnology company’s stock valued at $8,330,000 after purchasing an additional 30,619 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Analysts Set New Price Targets

BIIB has been the subject of several research analyst reports. Wall Street Zen raised Biogen from a “buy” rating to a “strong-buy” rating in a report on Friday, September 5th. HC Wainwright increased their price objective on Biogen from $187.00 to $194.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Wedbush reissued a “neutral” rating and issued a $121.00 target price on shares of Biogen in a report on Thursday, June 12th. Needham & Company LLC reissued a “hold” rating on shares of Biogen in a report on Thursday, September 4th. Finally, Piper Sandler increased their price objective on Biogen from $115.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, August 14th. Ten research analysts have rated the stock with a Buy rating and twenty-one have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $181.65.

Biogen Price Performance

BIIB stock opened at $143.60 on Wednesday. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $204.18. The stock’s 50 day moving average is $133.24 and its two-hundred day moving average is $130.69. The company has a market capitalization of $21.05 billion, a PE ratio of 13.73, a P/E/G ratio of 1.11 and a beta of 0.11.

Biogen (NASDAQ:BIIB) last issued its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, topping 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%.The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $5.28 EPS. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Activity at Biogen

In other news, insider Priya Singhal sold 517 shares of Biogen 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 owned 5,772 shares in the company, valued at approximately $770,850.60. This trade represents a 8.22% decrease in their position. The sale 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 Biogen stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total value of $300,105.00. Following the completion of the transaction, the insider 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 disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

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.