AustralianSuper Pty Ltd Has $92.86 Million Stake in Biogen Inc. $BIIB

AustralianSuper Pty Ltd grew its position in shares of Biogen Inc. (NASDAQ:BIIB) by 85.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 739,416 shares of the biotechnology company’s stock after buying an additional 341,719 shares during the quarter. AustralianSuper Pty Ltd owned approximately 0.50% of Biogen worth $92,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Biogen during the 1st quarter valued at about $27,000. Vision Financial Markets LLC acquired a new stake in shares of Biogen during the 1st quarter valued at about $27,000. Zions Bancorporation National Association UT acquired a new stake in shares of Biogen during the 1st quarter valued at about $29,000. Concord Wealth Partners raised its stake in shares of Biogen by 100.0% in the 2nd quarter. Concord Wealth Partners now owns 228 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 114 shares in the last quarter. Finally, Private Trust Co. NA raised 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 valued at $31,000 after acquiring an additional 98 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BIIB has been the topic of a number of recent analyst reports. Weiss Ratings raised Biogen from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday. William Blair reissued an “outperform” rating on shares of Biogen in a research note on Wednesday, September 24th. Rothschild & Co Redburn raised their price objective on Biogen from $149.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Citigroup reissued a “neutral” rating on shares of Biogen in a research note on Wednesday, September 24th. Finally, HC Wainwright raised their price objective on Biogen from $187.00 to $194.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Eleven research analysts have rated the stock with a Buy rating and twenty have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $180.69.

Biogen Stock Performance

Shares of NASDAQ BIIB opened at $149.89 on Monday. 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 business’s 50 day moving average is $143.03 and its two-hundred day moving average is $132.48. The company has a market cap of $21.98 billion, a P/E ratio of 14.33, a P/E/G ratio of 1.19 and a beta of 0.13. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $187.58.

Biogen (NASDAQ:BIIB) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $2.32 billion. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The company’s revenue for the quarter 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. On average, equities analysts expect that Biogen Inc. will post 15.83 EPS for the current year.

Insider Buying and Selling

In other Biogen 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 transaction, the insider directly owned 5,772 shares of the company’s stock, valued at $770,850.60. The trade was a 8.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by corporate insiders.

About Biogen

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.